Nordic Halibut AS (NOHAL) has started the construction of a new grow-out site in
Grønset, Møre & Romsdal. The new Grønset site is located in Kvernesfjorden near
NOHAL`s other operational grow-out sites in Ørjavik and Krekvikbogen. The
North-West region of Norway is perfectly suited for sea-based halibut farming
due to the ideal cold-water habitat.

This will be NOHAL`s third grow-out site and will consist of 12x 160meter cages,
a production volume of 480.000m3 and have a stand-alone biomass capacity of
3.000 tonnes. Combined with the already producing licenses, NOHAL has secured
the production capacity to realize phase one of the volume ramp-up plan of 4.500
tonnes HOG in 2026, both at sea and land. 

For the first time in halibut farming history 160-meter cages are being deployed
into operations. This is the same size used in the largest sea-based salmon
farming sites and represent a key enabler for scaling of sea-based production
volumes in a cost-efficient way.    

- This is another important milestone for Nordic Halibut. Larger cages located
in our defined production HUB in Møre & Romsdal enables us to scale our
production in a cost-efficient way and at the same time ensure that the fish is
kept stress free throughout the production cycle. Density levels per kg/m3 will
be comparable to our other sea-sites which has proven low mortality rates and
consistent output. We are very excited that we now can produce sustainable
superfood free of antibiotics and chemicals also at Grønset, says CEO Edvard
Henden. 
 
Sea-cages, moorings, nets, cameras, and feed automats are currently being
installed and first fish set to sea at Grønset is expected during Q4 2021. 

In addition, as part of the volume ramp-up plan, the on-growing facility at
Averøy is currently being upgraded to meet increased delivery of juveniles in
2022. NOK 17 million are being invested in the facility to improve water
quality, temperature control and increased capacity for medium size juveniles
(50-100 gram). Operability of improvements and construction will be completed
during Q1 2022 with significant increased biological performance expected going
forward. 

The establishment of the third sea site combined with the strategic investments
at Averøy is an important step towards realizing the production target of 4.500
tonnes HOG in 2026 and 9.000 tonnes HOG within 2030.  


For more information, please see attached presentation or contact: 

CEO Edvard Henden, edvard@nordichalibut.no, +47 91 14 11 65 


About Nordic Halibut AS: 
Nordic Halibut is a company based in Western Norway and with headquarters in
Averøy, Nordmøre. The Company is a leading farmer of Atlantic halibut. The
Company has a fully integrated and well-developed value chain from genetics to
sales and has had a significant breakthrough in early phase production. The
Company will be implementing a growth plan to expand production volumes
considerably. Nordic Halibut will create shareholder value by pursuing value
accretive organic growth through by increased production.

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