Sweden’s first large salmon farm receives 42 million pounds of EU funding
The EU’s investment bank EIB is to provide 530 million Swedish kronor (SEK) or £42 million to build a new “super green” land-based salmon farm in Sweden.
The company behind the project is RE:OCEAN, which plans to produce 10,000 tons of salmon a year until 2026.
RE:OCEAN has received this generous support because of its commitment to innovative and sustainable food production.
The bank said RE:OCEAN is revolutionizing the seafood industry with the future of land-based salmon farming at a large-scale facility near the attractive forest town of Säffle in the south of the country. It will be powered by fossil-free energy and almost all water used will be in a closed environment.
With their new “sea-on-land”, they can locally produce 10,000 tonnes of sustainable and healthy salmon each year. Sweden currently imports most of its salmon, mainly from neighboring Norway.
The project is supported by Sweden’s three leading wholesale companies — Axfood, Coop and ICA — who see great opportunities in being able to offer consumers healthy and sustainable Swedish salmon.
EIB Vice-President Thomas Östros, who is responsible for the EIB’s operations in Sweden, said: “We are delighted to finance this ground-breaking, major project for sustainable food production.
“Re:OCEAN’s new facility will not only provide the Swedish population with domestically and sustainably produced salmon, but it will also do so in an innovative and climate-friendly way using cutting-edge technology for zero-water circulation. “
RE:OCEAN CEO Morten Malle said: “We are delighted with the EIB’s support. The EIB investment is a strong signal of confidence and a cornerstone for other investors in our new sustainable food production concept, and a result of 12 months of close collaboration.
“This process also verifies our team’s and partners’ experience in the industry, our highly advanced solutions and new technologies, which will enable consumers to enjoy clean, healthy locally produced salmon while protecting our environment.”