Land-based salmon farmer Proximar Seafood has transferred its first batch of Atlantic salmon to its smolt facility.

Proximar has released four batches of fish into its hatchery facility since it began production in October 2022. The first of these has now moved to the smolt facility.

“Transferring our first batch of fish to the next facility is an important milestone,” Proximar CEO Joachim Nielsen said in the stock exchange update.

During the first phase of the project, the company is planning to produce 5,300 metric tons of salmon from its land-based facility at the base of Mt. Fuji in Japan.

The project is on time and on cost, Nielsen told IntraFish earlier this month, and the first batch of fish are performing well and on track for a 2024 harvest.

Construction of the facility is progressing according to schedule, and is on target for completion by the third quarter of 2023, the company noted in its update.

Proximar, which trades on the Oslo Stock Exchange, is backed by Norway-based Grieg, and agri-giant Nutreco, parent of Skretting, the world's largest aquaculture feed company, and Japanese conglomerate Marubeni. Marubeni is set to take delivery of all production for the first ten years of the facility's operation.

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