AKVA Group ASA Signs Land-Based Contract for Atlantic Salmon Project in Iceland

AKVA Group ASA, a Norwegian company specializing in aquaculture technology, has recently signed a significant land-based contract, marking a pivotal development for the company. This contract, valued at approximately MEUR 20, is part of a larger initiative to establish a re-use grow-out facility for Atlantic Salmon at Westman Islands, Iceland. The project’s progression was contingent upon Laxey securing necessary financing, which has now been achieved through a combined equity and debt financing of MEUR 130.

The contract is a testament to AKVA Group ASA’s expanding influence in the aquaculture sector, particularly in land-based technology. The company operates through three main segments: Cage Based Technology, Software, and Land Based Technology. The Land Based Technology segment, which is central to this new contract, focuses on designing and delivering recirculation systems for land-based fish farming.

AKVA Group ASA’s operations span across multiple countries, including Norway, Chile, Canada, Scotland, Denmark, Iceland, and other international locations. The company is headquartered in Oslo, Norway, and is a subsidiary of Egersund Group AS.

The successful signing of this contract is expected to positively impact the company’s stock price, which has been experiencing a moderate increase recently. The company’s market value has been steadily rising, driven by its growing presence and innovation in the aquaculture industry. As of May 5, 2025, AKVA Group ASA’s close price was NOK 65, with a 52-week high of NOK 77 and a low of NOK 54.8. The company’s market capitalization stands at NOK 2.3 billion, with a price-to-earnings ratio of 17.75.

This development underscores AKVA Group ASA’s commitment to advancing sustainable aquaculture solutions and its strategic positioning within the industry.