Cflow Secures Major Contract for Landmark Salmon Farming Project in Japan

Cflow has entered into a significant agreement to implement a comprehensive system for the gentle and efficient handling of fish at the ambitious Pure Salmon Japan facility located in Tsu City, Mie Prefecture. This innovative land-based salmon farming project is projected to produce 10,000 tonnes of Atlantic salmon annually, marking it as one of the most ambitious RAS (Recirculating Aquaculture System)-based aquaculture facilities globally.

An Integrated Approach to Aquaculture

The Pure Salmon Japan project embodies a vertically integrated model encompassing both farming and processing of Atlantic salmon for local distribution within Japan, as well as for pet nutrition based on salmon by-products. Construction is set to commence in the summer of 2024, with the inaugural harvest anticipated for February 2028.

Robust Financing Structure

The project has secured a substantial financing package, including a long-term debt facility amounting to JPY 33 billion (approximately NOK 2.2 billion) from both equity and debt investors. Additionally, it benefits from the backing of Japanese government authorities as well as local stakeholders, enhancing the project’s viability and support network.

Comprehensive Fish Handling Solutions

Cflow’s scope of delivery encompasses the entire fish handling value chain distributed across six buildings—from smolt to slaughter. Each system is meticulously designed with a focus on fish welfare, operational reliability, and optimal production flow.

“We have been collaborating closely with Pure Salmon and Pure Salmon Technology since 2022. This partnership allows us to contribute significantly to a project that aims to establish new benchmarks in land-based aquaculture,” says Gunn-Marit Nerem, VP Sales at Cflow. “Our goal is to combine technological precision with a deep respect for the fish.”

Global Partnership with Local Expertise

Singapore-based 8F Asset Management, the owner of Pure Salmon Japan, has secured a strategic investment from the renowned Japanese property developer, Mori Trust Group. This partnership not only bolsters financing but also enhances project execution capabilities.

The facility will span a total floor area of 137,000 m², aiming for an antibiotic- and vaccine-free production cycle, which covers the entire spectrum from farming to processing and distribution.

Emphasis on Fish Welfare

“Prioritizing fish welfare is the linchpin of success for any RAS facility,” asserts Per Ivar Foshaug, CEO of Pure Salmon. “At Pure Salmon, we incorporate fish welfare considerations into our design and technology selection from the very beginning, overseeing our projects through all phases—from concept and construction to operation and customized follow-up.”

Foshaug emphasizes, “Cflow’s expertise in fish handling is vital in ensuring high quality and efficiency throughout production. Our joint ambition is to cultivate healthy, locally-produced salmon that not only meets environmental standards but also caters to consumer needs.”

Strategically Located for Sustainability

Having received the highest sustainability financing rating from the Japan Credit Rating Agency, Pure Salmon Japan stands as a key contributor to Japan’s food security. Its strategic location in proximity to major cities like Tokyo, Nagoya, and Osaka allows for the prompt delivery of fresh salmon to some of the most discerning seafood consumers worldwide.