Atlantic Sapphire's production fresh and saline water wells at its South Florida land-based farm allow the company to replicate natural conditions for growing salmon, a "crucial" element of the company's model, according to CEO Johan Andreassen.

Andreassen detailed the progress of these wells in the company's latest investor update, released Tuesday.

Fresh water at its US farm is supplied by two wells drawing from shallow water in the Biscayne Aquifer, with deeper wells, drawing from the aquifer's salt water depths due for completion next month.