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NYC Investor Forum: Land-based salmon farmer Atlantic Sapphire sees path to cost-competitive production

Company's facility in Miami has an ultimate capacity of 90,000 tons, but the first phase is projected to produce 10,000 tons.

Atlantic Sapphire, developers of the closely watched land-based salmon farm under development in Miami, is on track to harvest its first fish within two years, and the metrics point to a cost base that makes it competitive with conventional salmon, Jose Prado, CFO of the company, told attendees at the recent IntraFish Seafood Investor Forum in New York.

The facility has an ultimate capacity of 90,000 metric tons, but the first phase is projected to produce 10,000 metric tons, he said. Phase two will add an additional 20,000 metric tons.

Growing the fish to between 4 and 5 kilos with perfect flavor is “old news," he said. The company has achieved this at its facility in Denmark.

The goal now is to repeat this production over and over again consistently.

Atlantic Sapphire forecasts a NOK 36 ($4.45/€3.79) per kilo production cost for its salmon, which includes lower costs for shipping and disease treatments and builds in higher technology and associated development costs.

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Click here to pre-order IntraFish's upcoming Industry Report, 'The Land-Based Salmon Revolution.'

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