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Endur ASA

Endúr ASA – Investment decision (FID) for Salmon Evolution’s Phase 2

By 26.06.2024No Comments

Salmon Evolution ASA has today decided to go ahead with start of construction for their Phase 2 land-based grow-out salmon farming facility at Indre Harøy, Norway. Endúr ASA’s wholly owned subsidiary Artec Aqua AS signed the contract to deliver the process facility for phase 2 (BTB) in June 2023, and will now commence construction. Under the contract, Artec Aqua has done engineering of the process facility. Now with the final investment decision taken, Artec Aqua will deliver its hybrid flow-through technology and manage the construction and commissioning of the process facility.

The total contract awarded is approximately NOK 1 billion for Artec Aqua. The construction will commence in Q3 2024 and is expected to be completed in Q4 2026. Artec Aqua has previously conducted design, construction and commissioning of Salmon Evolution’s phase 1 (BTA) at Indre Harøy. This facility has delivered strong results over an extended period of time.

“We look forward to commencing construction of Phase 2 at Indre Harøy, and with that contribute to a foundation for further growth for Salmon Evolution. Overall, the results from Phase 1 at Indre Harøy have been excellent, and the feedback from our customer emphasizes our project execution and technology as a major contributor to the facility’s success,” says Ingegjerd Eidsvik, CEO of Artec Aqua.

“Artec Aqua is one of the world’s leading suppliers of technical infrastructure to land-based fish farming facilities, and Salmon Evolution is rapidly building up its production volumes. It is a highly valuable collaboration, and we look forward to contributing towards creating even stronger operational, biological and financial results at Indre Harøy going forward,” says Jeppe Raaholt, CEO of Endúr ASA.

The contract also includes an intention for Artec Aqua to provide technical infrastructure for Salmon Evolution’s phase 3 (BTC), which is double the size compared to phase 1 and 2, also at Indre Harøy.

(ENDS)

For further information, contact:

Media
CEO Endúr ASA, Jeppe Raaholt, +47 97 66 97 59
CEO Artec Aqua, Ingegjerd Eidsvik, + 47 95 08 77 54

Investors
CFO Endúr ASA, Einar Olsen, +47 924 01 787

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