Norwegian land-based salmon producer Salmon Evolution said the company remains on track for its first commercial harvest in the fourth quarter of 2022.

At 2.3 kg, average fish weights are around 20 percent ahead of schedule, while the company said it has conducted extensive quality testing confirming "good fillet quality and excellent taste."

Taste is one of the biggest concerns among land-based salmon producers, some of whom have suffered from "off flavors" when raising fish in recirculating systems.

Last month Salmon Evolution successfully completed its second smolt release at its Indre Haroy facility, comprising about 230,000 smolt with an average weight of 125 grams.

At the beginning of the second quarter Salmon Evolution announced it had raised another NOK 300 million (€30.5 million/$30.8 million) capital from a private placement to back expansion plans and to fund the second phase of its Indre Haroy facility.

All buildings and structural facilities at Indre Haroy are now completed.

Remaining construction works require installation of equipment and piping as well as system integration.

The company is currently holding fish in two tanks but expects to put remaining tanks into operation over the coming months following the stocking of new smolt batches and transfer of existing batches into new tanks.

The company said it expects construction of the project to be completed in the first quarter of 2023, back from original projections of the fourth quarter this year.

The land-based salmon producer, whose backers include Korean giant Dongwon and Cargill, announced in June that it is planning to expand into North America and raise its production capacity target to 100,000 metric tons by 2032.

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