International aquafeed producer BioMar and Icelandic fishing and processing group Síldarvinnslan have signed an MoU to join forces in building a high-tech aquafeed production facility in Iceland.
This would put BioMar in the position of being the only global feed company with a presence on the Icelandic market. The ambition is to build a facility that will achieve net-zero within its own operations.
‘As part of our strategy, above and beyond, we are committed to expanding our business to new geographies and demonstrating our sustainability ambitions. Partnering with Sildarvinnslan offers a great opportunity to grow the Icelandic industry locally, and in a sustainable way,’ said BioMar Group CEO Carlos Diaz.
The joint venture offers an opportunity to fully utilise by-products from Sildarvinnslans’ fishing operations and tap into BioMar’s extensive R&D portfolio and knowledge. The agreement includes Sildarvinnslan’s Laxá production facility and existing feed operations which have been importing and distributing BioMar starter feeds for several years.
‘We have had a long-standing relationship with BioMar, and this joint venture is an ideal fit between two companies fully dedicated to driving an ambitious sustainability agenda,’ said Síldarvinnslan CEO Gunnthór Ingvason.
‘Our expertise in the production of sustainable marine raw materials and by-products, our fish processing and farming technologies combined with BioMar’s feed production knowledge will give us the opportunity to supply Iceland’s aquaculture industry with feed that will enable a differentiated offering to the global market.’
The Icelandic aquaculture industry has grown steadily over the last decade and prides itself on a prime sustainability focus and increased organic production at sea. Newer land-based projects are taking advantage of the natural environmental conditions to reduce resource requirements by utilising geothermic sources. This makes it an ideal location for a net-zero facility that will reduce the need for imported feeds while benefiting from Iceland’s cost-effective green hydro and hydrothermal energy supply and locally available ingredients.