Approval of Torjulvågen zoning plan for halibut facility

The Tingvoll municipality council has approved the zoning plan application from Nordic Halibut for the development of a land-based halibut facility at Torjulvågen, Tingvoll. The zoning plan specifies the use, conservation and design of land and surroundings of the area where Nordic Halibut intend to develop and build a new land-based facility, targeting annual production of 1.25 million juveniles.

With reference to previously communicated project timeline, the facility will be fully operative and produce 1.25 million juveniles from 2027. The approval of the zoning plan and the overall project progression in 2022 strengthens current timeline estimates for facility completion, with the potential for an advanced timeline present.

The approval enables Nordic Halibut to further realise phase two of the Company's ramp-up plan to 9.000 tonnes HOG within 2030. The facility, located in proximity to the established production HUB at Nordmøre, will significantly de-risk future production cycles as early-phase production will be spread across numerous locations throughout the production lifecycle.

"We are really pleased that Tingvoll municipality continues to demonstrate its support to Nordic Halibut's plans to create local jobs and value creation through the development of a new land-based halibut facility," says CEO Edvard Henden.

The fit-for-purpose built facility will strengthen and further improve the internal biological competence and represent a platform for further progress in genetics. The Company's dedicated broodstock program and the advancements made in broodstock generations is the prerequisite for Nordic Halibut's growth plan through increased robustness, growth rates and reduced lead time. The new facility at Torjulvågen will enable further biological improvement and increase the Company's competitive advantage.

For more information about Nordic Halibut visit the website, HERE.

The Aquaculturists

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