21 June 2021 – Endúr ASA’s wholly-owned subsidiary Artec Aqua AS has today signed an agreement with K Smart Farming Co., Ltd. (“KSF”) to conduct a feasibility study for a 20,000 tonnes land-based salmon farming facility in South Korea.

The agreement includes an intention for Artec Aqua to conduct engineering, delivery, installation and commissioning of designed process related systems and equipment in the future build-out of the project.

– We are delighted to secure this feasibility study, which puts us in pole position to deliver the full turnkey build-out of this exciting salmon farming facility in South Korea, says Ingegjerd Eidsvik, CEO of Artec Aqua.

KSF is a joint venture between Norway-based Salmon Evolution ASA and Korean seafood giant Dongwon Industries Co., Ltd.

The KSF joint venture plans to develop, construct, and operate a land-based salmon farming facility with an annual production capacity of 20.000 tonnes live weight of harvestable Atlantic salmon in South Korea. The project plans to use a hybrid flow through system technology, such as the one Artec Aqua is delivering to Salmon Evolution’s land-based facility at Indre Harøy in Norway.

– Salmon Evolution has through our cooperation at Indre Harøya gained first-hand experience of our specialist competence within engineering and delivery of land-based aquaculture facilities, and consequently they have introduced us to K Smart Farming. We look forward to working with K Smart Farming to realise this project. The project represents an important step on our journey towards becoming a major international supplier of land-based aquaculture facilities, adds Ingegjerd Eidsvik.

Artec Aqua AS is a leading turnkey supplier of land-based aquaculture facilities and solutions – both within smolt, broodstock and grow-out facilities. The company is renowned for its superior water treatment solutions design. It has the capability to deliver all available water system solutions for onshore aquaculture, including flow-through, hybrid and RAS (recirculation aquaculture systems).

Artec Aqua is a wholly owned subsidiary of Oslo-listed Endúr ASA.

For further information, please contact:

Ingegjerd Eidsvik, CEO of Artec Aqua, tel: +47 95 08 77 54
Hans Olav Storkås, CEO of Endúr, tel: +47 901 22 744

Lasse B. Kjelsås, CFO of Endúr, tel: +47 908 49 772