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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Royal DSM    DSM   NL0000009827

ROYAL DSM

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DSM and Evonik take next step in sustainable aquaculture: Veramaris facility in Blair (USA) starts commercial production

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07/10/2019 | 08:03am EDT

Three billion people today rely on marine fish for food. Especially salmon is a rich source of the two essential omega-3 fatty acids EPA and DHA, which are vital for brain, eye and heart health. Spiraling demand for seafood and the consequent pressure on overfishing has fueled the growth of fish farms. Aquaculture, however, compounds the burden on wild fish stocks, since 20% of the wild catch is used to make feed for farmed fish and 75% of all fish oil produced is currently fed to farmed fish.

In response to a limited, finite availability of fish oil along with soaring demand for seafood, the level of omega-3 EPA and DHA fatty acids in salmon has declined by more than a half over the past decade. This development is not supportive for consumers looking for a healthy food option. Furthermore, the limited wild fish stocks restrict the amount of fish oil available and thus the growth of the aquaculture industry.

Veramaris' algal oil offers a sustainable alternative: Veramaris' algal oil goes right back to the source - algae are the original source of Omega-3 fatty acids - making it possible to leave all marine life between the original phytoplankton and algae untouched. The highly concentrated algal oil contains twice the levels of EPA and DHA than fish oil. For the first time, it will enable the aquaculture industry to keep up with the increasing demand for these two essential omega-3 fatty acids and help to reverse the decline of these vital omega-3 levels in farmed salmon without any reliance on fish oil obtained from wild fish stocks. The salmon industry has welcomed this solution and first premium salmon products have been launched by leading retailers across Europe.

The Veramaris facility's initial production capacity of Omega-3 fatty acids rich in EPA & DHA is equivalent to that derived from 1.2 million tons of wild-caught fish. This will meet around 15 percent of the global salmon farming industry's annual demand for Omega-3 fatty acid - a significant contribution to conserving the biodiversity in our oceans.

Feike Sijbesma, CEO/Chairman DSM Managing Board commented: 'I am pleased that together with Evonik we have reached a key milestone in turning the tide: through Veramaris, we are able to reduce the aquaculture industry's reliance on the world's finite fish oil resources for these vital omega-3 fatty acids. This fits perfectly with our purpose-led performance driven strategy, focused on addressing the world's biggest challenges while simultaneously creating economic, environmental and societal value for all our stakeholders.'

DSM is a leading global integrated nutritional solutions provider to the feed markets with an industry leading portfolio of innovative feed ingredient solutions for aquaculture, a strategic growth segment for its animal nutrition & health business. Veramaris combines DSM's expertise in the cultivation of marine organisms including algae and long-established expertise in fermentation processes with Evonik's know-how in the development of industrial biotechnology processes and operating competitively large-scale manufacturing sites for fermentative amino acids.

'In Veramaris, we have combined the competencies of two strong partners to make an innovative contribution to the healthy nutrition of the world's growing population, without putting any further burden on our oceans,' said Christian Kullmann, chairman of the Executive Board of Evonik.

Construction of the new facility was completely on time, on budget and with no lost-time incidents.

Evonik's existing site in Blair was selected to produce the omega-3 fatty acids to take advantage of the fermentative production capacity at the site and the favorable site infrastructure. The Veramaris production will be a zero-waste facility including concepts to utilize by-products in sustainable applications, such as biogas and cattle feed.

Photos of the grand opening will be uploaded throughout the day on the Veramaris website. B-roll is available on request.

Disclaimer

Koninklijke DSM NV published this content on 10 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 July 2019 12:02:09 UTC

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Financials (EUR)
Sales 2019 9 228 M
EBIT 2019 1 143 M
Net income 2019 819 M
Debt 2019 1 298 M
Yield 2019 2,18%
P/E ratio 2019 23,1x
P/E ratio 2020 20,0x
EV / Sales2019 2,21x
EV / Sales2020 2,09x
Capitalization 19 086 M
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Average target price 112,75  €
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Spread / Highest target 24,2%
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NameTitle
Feike Sijbesma CEO & Chairman-Management Board
Robert John Routs Chairman-Supervisory Board
Géraldine Matchett Chief Financial Officer
Pauline F. M. van der Meer Mohr Member-Supervisory Board
Victoria Franchetti Haynes Member-Supervisory Board
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