LAXEY Achieves First Harvest Milestone: A Step Towards Sustainable Aquaculture

Project Timeline:
• November 2023 – First eggs received
• November 2024 – First transfer to grow-out
• November 2025 – First harvest executed

In under 23 months from the initial receipt of eggs, LAXEY has successfully harvested Atlantic salmon weighing between 4-5 kg. This achievement validates the fisheries’ biological and operational model in a commercial setting and marks the inaugural performance test of the processing facility, where all systems functioned as planned. This progress aligns perfectly with LAXEY’s roadmap presented to investors three years prior.

The salmon exhibited robust biological indicators, consistent physical characteristics, and vibrant fillet coloration, further enhancing confidence in the product’s long-term quality and overall production efficiency.

Kristmann Kristmannsson, Head of Processing and Procurement, remarked, “This is a significant milestone in our development. The project has progressed steadily on schedule, and we are now transitioning towards steady-state production, driven by the dedication of our exceptional team.”

The company is poised to scale its harvest volumes and initiate regular export shipments of fresh Icelandic salmon to international markets. LAXEY continues to foster strong collaboration with the local community in Vestmannaeyjar, utilizing local expertise as production levels rise. Projections for next year estimate that harvest volumes will reach 5,000 tons.

Fresh Icelandic salmon from Vestmannaeyjar is set to reach consumers worldwide, showcasing the region’s commitment to quality aquaculture.

Image credit: LAXEY

Source: LAXEY Official Announcement