Listed Norwegian cod-farming venture has been granted permission to establish a new production location in Nesna municipality with a total maximum allowed biomass (MAB) of 3,600mt.
“We have been very well received by Nesna municipality, which we highly appreciate, and we look forward to continuing our excellent cooperation. We consider the site at Labukta to be perfectly suited for cod farming with good water depth, water temperature and current conditions. I am confident our fish will thrive here,” said Norcod CEO Christian Riber.
The mayor of Nesna municipality, Hanne Davidsen, added: “The arrival of Norcod is extremely important for Nesna and as mayor I am delighted it has been given the go-ahead to begin cod farming in our community. We wish them the best of luck and trust that we will continue to work together successfully in future.”
The new site will be equipped with state-of-the-art aquaculture technology and is planned to go into production in the first half of 2023. “Setting up a new location is always an exciting process especially given our motivation to provide a healthy source of protein to an eager market. We have a highly skilled production team with many years of combined experience so I anticipate this will be a smooth and efficient process,” said Riber.
Good community relations are also integral to Norcod’s strong commitment to responsible farming of premium product. “Our ambition is to contribute not only to the industrial base of the coastal municipalities in which we are active, but also to support employment opportunities and ensure sustainable operations with minimal impact to the environment,” added Riber.
Including Labukta, Norcod now has a total of five cod-farming sites along the Norwegian coast encompassing 19 licenses with MAB of 13,920mt in total. The company recently finalized its first full production cycle and is set to begin harvesting its second cycle in the third quarter of this year. It is also in the process of putting its third cycle of cod into the sea phase this summer.
Norcod AS’ core business is commercial sea farming of cod but through ownership and partnerships is involved in the entire value chain. Norcod’s existing fish farms are located in Mid- and North Norway with ideal sea conditions for cod. The company is contributing to blue ocean value creation with minimal impact on the environment while supporting local communities. Norcod is listed on Oslo’s Euronext Growth market.