Combining Iceland´s unique natural resources and state-of-the-art onshore farming technology, our salmon embodies innovation
GeoSalmo intends to be a leader in developing the onshore salmon farming industry to future success for the benefit of the world.
Building a 24.000 MT hybrid flow-through land-based salmon farm in Iceland.
The farm will have an on-site smolt facility, a grow-out and a processing plant. The production process will be linear and integrated, ensuring firm control and visibility on the 500 meter journey from ova to harvest size salmon.
Project timeline
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Þórlákshöfn progression
2024
Þórlákshöfn progression
2024
.png "From left: Sigurður Ingi Jóhannsson, Minister of Infrastructure, Guðrún Hafsteinsdóttir, minister of justice and Hreiðar Hreiðarsson, Head of Aquaculture.")
Groundbreaking at the Þorlákshöfn site.
2024
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Energy agreement
2023
Land lease signed
2023
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Assessment completed
2023
Design & construction
2022
The location
- 01
Iceland is nestled in the cold arctic circle between the powerhouse consumer markets of Europe and North America. Therefore, GeoSalmo has the ability to reach both continents with fresh products by ship.
- 02
The farm will be located in Þorlákshöfn, one of the largest fresh fish export harbors in Iceland. This secures optimal logistics to our main markets, reducing domestic transport costs and emissions.
- 03
The location is rich in sustainable natural resources, including freshwater and seawater that are naturally filtered through volcanic rock and collected at optimal temperature for salmon farming.
- 04
This will enable GeoSalmo to maintain rigorous control of water conditions in the facility, strongly contributing to biological safety, fish welfare and unmatched product quality.
Renewable Energy
- 01
Iceland has an abundance of clean, renewable energy thanks to its remarkable geography and geology. Iceland is literally powered by the land in the form of hydro- and geothermal energy.
- 02
GeoSalmo will use 100% renewable energy for its farming operations, while making sure to minimize its energy usage.
Considering the unique and abundant recourses Iceland has to offer, utilizing innovative hybrid flow-through technology in onshore salmon farming is a natural choice.
Our salmon will be raised in a state-of-the-art hybrid flow-through system.
Freshwater and seawater, that has been filtered through volcanic rock, will be supplied from boreholes to the facility. Therefore, water conditions are ideal and no treatment is needed before utilization in the grow-out phase. Antibiotics and lice treatments will be completely eliminated.
The farming method enables the fish to grow in optimal conditions with minimal handling.
Hybrid flow-through is a proven method in fish farming. It limits biological risk, and ensures full control over the farming process. The technology removes the necessity to use undesirable chemicals in the farming process.
GeoSalmo is inspired by the UN Sustainable Development Goals (SDGs) and the Global Compact’s call to the private sector for corporate responsibility, transparency, and working toward becoming a part of the solution.
An investment opportunity in a sustainable Natural land-based salmon farm supplying the fast-growing global seafood demand.
It is projected that aquaculture will account for 62% of global fish production in 2030.
Supply of farmed Atlantic salmon is projected to be at 6m+ tons by 2040 with land-based fish farming accounting for 27% of total supply.
Ambitions for zero-carbon footprint and sustainable operations are at the heart of GeoSalmo’s design process with clear ESG goals.
The business will deliver over NOK 1.5 billion in annual revenue at over 40% EBITDA margin once steady state operations are reached.
GeoSalmo’s leadership team is both experienced and dedicated to fostering a dynamic change-driven culture.
