Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) refers to
the stock exchange notice dated 31st of March 2021 where the Company announced
that it had signed a JV Agreement with Dongwon 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 in South 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 in Seoul, Korea with both the top management of
Dongwon, Salmon Evolution and Artec Aqua precent, and shows that the progress
for Salmon Evolution's involvement in South Korea is going according to plan.
Mr Håkon André Berg, CEO of Salmon Evolution says:
"We are very pleased with the progress of our joint venture with Dongwon in
South Korea. We are also happy to announce that the partnership between Salmon
Evolution and Dongwon 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 with Dongwon 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
About Salmon 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 with Dongwon Industries,
called K Smart Farming, where the parties will develop, construct and operate a
land-based salmon farming facility in South Korea with an annual production
capacity of 16,800 tonnes HOG, using Salmon 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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