Nordic Aqua: Sale of high quality Atlantic Salmon resumes with renewed strength

Oslo, 13 February 2025: Nordic Aqua (OSE: NOAP), a global pioneer in land-based salmon farming, announces the restart of its sale of Atlantic Salmon at the Ningbo facility, marking a significant milestone in the company’s plan to deliver fresh, sustainably farmed Atlantic salmon to the growing Chinese market.

Having successfully addressed operational challenges, including implementing state-of-the-art measures to combat geosmin, the facility is now fully operational and de-risked. Hence, Nordic Aqua is entering 2025 with a fortified production system, enhanced operational protocols, and a commitment to delivering premium quality salmon under its Nordic PureAtlantic brand

“We are pleased to announce that sale of Atlantic Salmon at our Ningbo facility is back on track and stronger than ever. With comprehensive corrective actions now in place, the Ningbo facility is fully optimized for sustainable, high-quality salmon farming, and we are now ready to reengage with partners and customers to launch our unique products. Handling the operational issues brought challenges, but it also demonstrated the resilience of our team and the robustness of our business model, and I am grateful for the confidence of our stakeholders through the unscheduled transition period in 2024”, commented CEO Ragnar Joensen in Nordic Aqua.

The Chinese salmon market continues to show robust growth potential, driven by a rising middle class and demand for premium, sustainably produced seafood. Nordic Aqua’s proximity to key urban markets gives the company access to more than 100 million consumers within a five-hour radius. Offering products of unparalleled freshness, Nordic Aqua is well-positioned to capitalize on the rising demand for fresh, local Atlantic salmon in China. The consumption growth  of fresh, whole salmon in China in 2024 was and impressive 16%, the biggest growth in any of the major markets for salmon in the world. By end of week 6 2025 the consumption of fresh, whole salmon from Norway showed a further growth of 52%.

Construction for Stage 2 expansion is on track with the first harvest scheduled for Q3 2026, paving the way to double production capacity to 8,000 tonnes, 5.3 kg salmon annually.  On this basis the current plan is to harvest 3,500 – 3,700 tonnes in 2025. This expansion, and the further growth to 20,000 tonnes reinforces the company’s commitment to long-term growth and market leadership. Nordic Aqua’s plans for 2025 include scaling production, strengthening market penetration, and advancing our sustainability initiatives to secure long-term shareholder value.

For further information please contact:

Ragnar Joensen, CEO

E-mail: [email protected]

Mobile: +298 599 112

Tom Johan Austrheim, CFO

E-mail: [email protected]

Mobile + 47 9820 9873

About Nordic Aqua Partners

Nordic Aqua Partners is a Nordic land-based Atlantic salmon farming company, using cutting-edge Nordic technology and expertise to set up the first fully integrated and commercially scaled Recirculating Aquaculture System (RAS) farm for Atlantic salmon located in Ningbo, China. Nordic Aqua Partners is the first local producer of truly sustainable and Super-fresh Atlantic salmon to the Chinese market. The current business plan is for an annual production of 20,000 tonnes HOG. Nordic Aqua Partners AS is listed at Euronext Growth under the ticker NOAP.