Akva's Stig Martin Bø seals the deal with Egersund's Benedikt Ernir Stefansson. Image: Akva.

Braced for Icelandic boom

The prospect of Iceland’s salmon aquaculture sector growing to nearly the same size as Scotland's by 2028 has inspired Akva to sign a formal agency contract with Egersund’s Icelandic operations. 

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Following the deal, Egersund Island EHF will represent Akva group and sell aquaculture technology and associated services to Icelandic fish farmers. The contract came into force last month, but the companies have already collaborated for 3-4 years. The office will be based in Reykjavik.

“We're doing this to increase our presence in Iceland and to promote sales and service work. The intention is to be able to provide even better service to Icelandic customers through a dedicated representative. Egersund Island will promote AKVA group's products and look into opportunities to expand and further develop services in Iceland,” says Stig Martin Bø, one of Akva’s sales managers.

The aim of the collaboration is to increase turnover in line with the growth and initiatives in Icelandic aquaculture. Icelandic authorities have introduced new Icelandic regulations for sea farming, which are largely based on the Norwegian NS-9415. Low costs for investments in licences for salmon and no ownership limitations in companies should also help fuel the boom, leading to an increased belief that Iceland will soon become a major salmon producer - with some projections predicting that the island nation will be producing about 170,000 tonnes (roughly the same as Scotland is producing now) a year by 2028.

It is not the only foray into Iceland for Akva in recent months, as they recently revealed that they will be delivering a 650-tonne feed barge to Anarlax, Iceland's largest salmon farmer, in the coming months.

“Akva group ASA wants to be a part of the Icelandic aquaculture boom and contribute to further develop the industry in Iceland, and this agreement is a part of this effort,” Bø concludes.

A graph showing the potential growth of Iceland's salmon sector in the next 12 years. Image: Akva.