ANDD SALM : Research report from NIBIO confirms commercial potential of fish sludge from Andfjord Salmon™

Sortland, 20. November 2020:

Dried fish sludge from Andfjord Salmon's land-based aquaculture facility has the potential to be used in growth media such as organic fertilizer and organo-mineral fertilizer for agriculture and gardening, concludes a research report from the Norwegian Institute of Bioeconomy Research (NIBIO).

'Put plainly, we can make money from the salmon's feces', says Martin Rasmussen, CEO in Andfjord Salmon and educated within biology. 'To treat biological waste as a sustainable resource rather than a problem has been a key objective for us. The NIBIO report confirms that this is possible, taking us one step closer to building the world's most sustainable and fish-friendly aquaculture facility', Rasmussen adds.

The NIBIO report was developed on behalf of Andøytorv AS and Andfjord Salmon AS. The research institution explored both opportunities and limitations related to the use of fish sludge from Andfjord Salmon as a CO2-reducing component in products like growth media, soil improvers and fertilizer products for agriculture, gardening and other relevant areas of application.In this context, fish sludge means fish feces and leftover fish feed that sinks to the bottom of the land-based farming facility at Andøya, which in turn is collected by cleaning robots.

The NIBIO report concludes that dried fish sludge from Andfjord Salmon's land-based farming facility has the properties required to satisfy the treatment requirements set in current regulations. This will still be valid after the expected upcoming revision of Norway's fertilizer regulations. Thus, the fish sludge has many potential areas of application. As an example, fertiliser made from dried fish sludge can be used as an additive in growth media such as organic and organo-mineral fertilisers, used on agricultural land, for gardening, and other agricultural purposes.'

To reuse biological waste is both sustainable and profitable. We will use NIBIO's recommendations in our continued efforts to explore the compelling commercial opportunities our fish sludge brings', says Rasmussen.Andfjord Salmon has developed an innovative and sustainable patented aquaculture concept for land-based farming of Atlantic salmon. The company's flow-through facility is escape-proof, lice-free and its innovative cleaning system avoids polluting marine life. Additionally, the facility will be partly powered by the use of solar panels and wind turbines.

For more information, please contact: Martin Rasmussen, CEO, Andfjord Salmon, [phone], [e-mail]

About Andfjord Salmon™ Andfjord Salmon™ has developed an innovative and sustainable aquaculture concept for shore-based farming of Atlantic salmon. The company's ambition is to build the world's most sustainable aquaculture facility of its kind. The facility is escape-proof, lice-free and its highly filtered effluent avoids polluting marine life. Additionally, the facility will be partly powered by the use of solar panels and wind turbines. Located at Kvalnes on the island Andøya on the Arctic archipelago of Vesterålen, Norway, the company's first facility is currently under construction. The company holds a license for 10,000 tonnes maximum allowed biomass (MAB) for land-based farming of Atlantic salmon and has secured rights to land for a potential expansion of an additional 60,000 tonnes MAB production capacity. The further expansion is subject to zoning of the land and granting of licenses. Andfjord Salmon AS is listed on Merkur Market under the ticker ANDF-ME.