Norwegian salmon company Kvaroy Group has invested NOK 125 million (€12 million/$14 million) into a new smolt facility, giving the group access to as many as 10 million smolt per year.
The new facility, constructed via subsidiary Kvaroy Smolt, is part of the group's smolt capacity expansion that began with the acquisition of Ranfjord Fiskeprodukter in January 2020.
Kvaroy Smolt, which is situated in Norway’s Mo I Rana industrial park, has good access to water and surplus heat from other local industries.
"This synergy effect suits Kvaroy and the industrial park’s green profile well," the company said of the new facility.
The investment will allow the company to produce its smolt at a smaller global footprint than current production allows.
A collaboration between Norwegian material solution provider Elkem Rana and Mo I Rana's industrial park will allow the plant to utilize cooling water used by Elkem Rana's furnaces.
In addition, Kvaroy has partnered with research group Sintef, Mo Industripark and others to explore if the sludge from smolt production can be used to grow vegetables.