Aquaculture

Yet another deal for Benchmark Genetics as it signs with Swiss land-based salmon farmer

Swiss Alpine Fish is producing about 600 metric tons of Atlantic salmon in a land-based facility.

A portion of the salmon is further processed and smoked by the company, and the rest is distributed fresh to the domestic market.
A portion of the salmon is further processed and smoked by the company, and the rest is distributed fresh to the domestic market.Photo: Swiss Alpine Fish

Switzerland’s first land-based salmon farm, Swiss Alpine Fish, has secured its ova requirements for a period of five years through a long-term agreement with Benchmark Genetics.

The agreement also includes technical support from Benchmark.

Swiss Alpine Fish is currently producing about 600 metric tons of Atlantic salmon in a land-based recirculating aquaculture systems (RAS) facility in the Lostallo region.

Swiss Alpine Fish imports six batches of ova from Benchmark Genetics Iceland annually. which it grows to a harvest size of about 3.5 kilograms.

A portion of the salmon is further processed and smoked by the company, and the rest is distributed fresh to the domestic market.

Swiss Alpine Fish is due to expand its facility, increasing its need for eggs by 2026. The eggs will be delivered from the new incubation center in Vogar, Iceland, which will officially open in August.

A busy 24 months

Benchmark Genetics has secured a run of deals over the last couple of years.

In September 2020, Spring Genetics, Benchmark’s tilapia genetics business, signed a five-year broodstock agreement with African tilapia producer Lake Harvest Group.

The agreement secures Lake Harvest an exclusive supply of Nile tilapia broodstock from Spring Genetics's advanced selection program in the United States for its commercial operations in Zambia and Zimbabwe, and a license to produce and sell sex-reversed fingerlings to third-party farms in this region.

In November 2020, Benchmark Genetics signed a five-year agreement to supply AquaCon with 40 million salmon ova and genetics expertise via its Icelandic subsidiary StofnFiskur.

The contract involves deliveries of genetics to the facilities AquaCon is planning to build in Maryland, set to supply approximately 40 million ova to AquaCon over five years. This project, however, has been delayed and it is unclear how quickly construction will now resume.

Days later, the company signed a seven-year agreement to exclusively supply Norwegian land-based salmon project Salmon Evolution with salmon eggs.
The following month Nordic Aqua Partners selected Benchmark Genetics as egg supplier to its Ningbo, China, land-based salmon project.

Construction of the farm began in January 2021 with Benchmark signing a five year agreement for 9.5 million ova with the company.

In February 2021 World Heritage Salmon (WHS), the huge land-based salmon farm backed by Hofseth International CEO Roger Hofseth, entered into a five-year contractual agreement with Benchmark Genetics.

WHS plans an annual production of up to 100,000 metric tons of salmon, which equals a yearly demand of 20-25 million ova. The contract is initially for five years starting in 2023, and with a further option for an additional five years.

In April last year land-based farming company Pure Salmon signed a multi-year agreement with Benchmark Genetics, which will supply Atlantic salmon eggs to Pure Salmon's projects worldwide.

The contract’s potential volume represents more than 80 million eggs annually at full capacity, with first delivery of ova expected in 2022.

In July Norway's Proximar signed an agreement with Benchmark, which will supply eggs to the company’s land-based salmon farm in Japan. The farm is expected to produce 5,300 metric tons of salmon, and sell its first fish to the Japanese market in 2024.
In August, new land-based salmon company Singapore RAS signed a long-term agreement with Benchmark Genetics to deliver Atlantic salmon eggs to the project.

Singapore RAS is in the final phase of financing the first construction phase of a 1,000 metric ton capacity facility, with plans to expand to 3,000 metric tons in the next stage.

A couple of weeks later Swedish land-based salmon farmer Premium Svensk Lax signed a long-term deal with Benchmark Genetics for the supply of salmon eggs.

The plant, which is designed to produce 10,000 metric tons annually, is scheduled to be in full-scale production in 2024.

In November last year global tilapia giant Regal Springs signed a strategic collaboration agreement with Benchmark Genetics to support its breeding programs.
Benchmark Holdings, a global aquaculture genetics, health and nutrition firm, saw a steep increase in earnings and revenue in the first half of its fiscal year, due in part to a restructured organization and an increased commercial focus.
Group revenue during the six-month period ending March 31 increased 33 percent to £79.2 million (€93.3 million/$98.2 million), while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) doubled to £15.9 million (€18.7 million/$19.7 million) compared with the same period last year.
Benchmark hailed the results as a continued sign of the success of its restructuring program, where it disposed of all its non-core assets, raising £44 million (€49.2 million/$58.6 million) in the process.
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Published 25 May 2022, 06:00Updated 25 May 2022, 08:55
SwitzerlandSwiss LachsGeneticsBenchmarkIceland