In the US, the company has since 2010 worked to identify and permit the ideal location for BluehouseTM farming in Miami, Florida. Atlantic Sapphire has been operating its innovation center in Langsand, Denmark since 2011 with a strong focus on R&D and innovation to equip the company with technology and procedures that enables the company to commercially scale up production in end markets close to the consumer. Jon Olav Ødegård, CFO of Hofseth BioCare ASAĪtlantic Sapphire is pioneering BluehouseTM (land-raised) salmon farming, locally, and transforming protein production, globally. We see a large potential in developing the US market”, said Johan Andreassen, CEO of Atlantic Sapphire.Ītlantic Sapphire and HBC aim to enter into a definitive agreement in Q1 2020, begin limited production in Q4, 2020 and increase output once Atlantic Sapphire begins 20,000t (HOG) annual production. This development aligns with Atlantic Sapphire’s vertical integration and sustainability strategy. “Refining Atlantic Sapphire salmon off-cuts on-site into high quality products ensures that 100% of Atlantic Sapphire salmon is processed into value-added products. Over the last couple of years, we have built unique IPR and competence ready to be applied both in different parts of the world and on different species,” Roger Hofseth, CEO of HBC, said. “Utilizing the whole fish has been our vision since we founded HBC in 2009 and with our plants in Norway now running at stable, high volumes, a joint venture with Atlantic Sapphire is a right step in the direction of being a global producer of nutrition from fish off-cuts. HBC’s proprietary intellectual property will be leveraged to produce refined products such as salmon oil, proteins and calcium products for the feed, pet and human consumption market. The intention of the JV is to build and operate a facility in Miami, FL to produce valuable by-products from salmon off-cuts supplied by Atlantic Sapphire. Atlantic Sapphire AS (“Atlantic Sapphire”, ASA-ME) and Hofseth Biocare ASA (“HBC” OSE:HBC) announce today the signing of a Letter of Intent to establish a joint venture in Miami, Florida, USA (the “JV”).
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