The former heads of Norway land-based salmon company Nordic Aquafarms have launched a new 5,000 metric ton land-based salmon project in Millinocket, Maine.
The project, called Katahdin Salmon, will cost between $120 million (€113 million) and $140 million (€131 million), co-founder and CEO Marianne Naess confirmed with IntraFish.
Naess' husband Erik Heim, founder of and former president of Maine-based Nordic Aquafarms, will serve as the new company's chairman of the board.
The cost for the first phase is significantly lower than the investment required by her former company Nordic Aquafarms, whose 33,000-metric ton Maine facility has been priced as high as $500 million (€496 million) to build, and still is not complete five years after being announced.
"We have focused on creating a smaller and greener project than ones that have had challenges in the US over the last 4-5 years," Naess said.
Based at the site of Millinocket's former Great Northern Paper Company, Naess said the location comes with significant cost benefits at a lower "investment threshold."
Millinocket has been seeking aquaculture development for years, according to Katahdin Salmon's new website, and the company cites having a strong partnership with the local economic development entity, Our Katahdin/One North, that dates back to last year.
After site and environmental assessments were conducted in 2022, it was confirmed that the location did not have environmental risks of concern, the company said. It plans to repurpose a 24-acre settlement lagoon as the construction site for its land-based fish farming facility.
"It's the best Erik and I have ever seen," Naess said in reference to how well the site will work for a land-based salmon project.
The company said it has held meetings with many stakeholders in the town and has received "significant support for [our] proposed plans and the positive contributions to the community."
Naess said Katahdin salmon was created from Xcelerate Aqua, which was launched last September, following her and Heim's exit from Nordic Aquafarms.
Read more
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- 'We lack fish to supply to our clients': Land-based producer The Kingfish Company sold out despite doubling production
- Ex-Nordic Aquafarms executives planning land-based salmon farms for two East Coast sites
