The Norwegian company behind a project to bring land-based salmon production to Japan has extended its agreement with Japanese trading giant Marubeni as regards to a potential sales and marketing agreement.

Proximar Seafood and Marubeni have worked closely since May to find a common framework for the future sales and marketing of the Atlantic salmon produced by Proximar. The parties have now extended the initial agreement to permit sufficient time to finalize the negotiations. The intention of the memorandum of understanding is to conclude on a firm offtake agreement.

“We are very pleased with the progress in our discussions made over the past months," said Proximar CEO Joachim Nielsen. "Marubeni has allocated significant resources and a very competent team to the discussions, which is really encouraging. We share the same view on the product’s attractiveness and potential for branding and pricing, which is important for Proximar.”

Partnering with strong, strategic players is part of Proximar’s strategy. Marubeni is one of the largest general trading companies in Japan, with 136 branches and offices in 68 countries and regions. Proximar also signed a construction contract with Daiwa House in March.

“The construction planning was time consuming but pays off when progress so far is in accordance to time and budget. We are now focusing on the operational planning and sales strategy. An offtake agreement for sales is an important part of the long-term bank financing," said Nielsen.

"Next summer, the first eggs will be delivered, and the first sales are expected in the first of 2024,” said Nielsen.

Proximar Seafood’s large-scale recirculating aquaculture production facility at the foot of Mount Fuji Japan is utilizing AquaMaof technology and design.

"We recently had samples of fresh Atlantic Salmon delivered to relevant parties in Japan from the AquaMaof facility in Poland. The feedback was very positive, and we look forward to serving the Japanese market with the freshest Atlantic salmon from 2024,” said Nielsen.