Salmon Evolution ASA ("Salmon Evolution " or the "Company", OSE: SALME) refers to the stock exchange notice dated 31st ofMarch 2021 where the Company announced that it had signed a JV Agreement withDongwon Industries regarding the establishment of K Smart Farming, a South Korean company established with the purpose to develop, construct, own and operate land-based facilities for salmon farming inSouth Korea . After this announcement, the parties have been working to secure data regarding the quality of the planned smolt site in Jeungseon and the grow out location in Yangyang. As these studies have been satisfying, K Smart Farming has now entered into an agreement with the Norwegian company Artec Aqua regarding a feasibility study for the two facilities. The outcome of this study will be the basis for further concept development, detailed engineering as well as application for relevant building permits etc. The agreement was signed inSeoul, Korea with both the top management ofDongwon ,Salmon Evolution and Artec Aqua precent, and shows that the progress forSalmon Evolution's involvement inSouth Korea is going according to plan. MrHåkon André Berg , CEO ofSalmon Evolution says: "We are very pleased with the progress of our joint venture withDongwon inSouth Korea . We are also happy to announce that the partnership betweenSalmon Evolution andDongwon continues to develop. This feasibility study is the first of many engineering and construction contracts that K Smart Farming will enter into, and we are excited to continue to work closely withDongwon in building up K Smart Farming as a substantial land-based salmon farmer in the Korean market over the coming years." For further information, contact:Håkon A. Berg Trond Håkon Schaug-Pettersen CEO,Salmon Evolution CFO ,Salmon Evolution +47 411 92 257 +47 911 91 327 AboutSalmon Evolution Salmon Evolution is a Norwegian land-based salmon farming company focused on extending the ocean's potential by transferring the best preconditions offered by the sea to farm fish on land through its hybrid flow-through system technology (HFS). This secures a truly sustainable production process with controlled and optimal growth conditions and limiting operational and biological risk. The Company's first production facility is under construction at Indre Harøy, strategically located on the Norwegian west coast with unlimited access to fresh seawater, renewable energy, established infrastructure for salmon farming, and an educated and experienced work force. The entire project is designed for an annual capacity of approx. 31,500 tonnes HOG. The Company has also entered into a joint venture withDongwon Industries , called K Smart Farming, where the parties will develop, construct and operate a land-based salmon farming facility inSouth Korea with an annual production capacity of 16,800 tonnes HOG, usingSalmon Evolution's HFS technology. Salmon Evolution ASA is listed at Euronext Growth under the ticker SALME. To learn more, please visit www.salmonevolution.no.
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