BioMar and Síldarvinnslan sign a memorandum of understanding
Danish aquafeed company BioMar Group and Icelandic seafood corporation Síldarvinnslan have signed a joint venture to produce a net-zero aquafeed production facility in Iceland.
BioMar will be the only global aquafeed company in Iceland, the company stated in a press release announcing the memorandum of understanding to construct the high-tech facility.
“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,” announced Carlos Diaz, CEO BioMar Group.
The new partnership will utilize byproducts from Sildarvinnslans’ fishing operations and tap into BioMar’s R&D portfolio and knowledge of novel ingredient usage in aquafeeds. The agreement includes Sildarvinnslan’s Laxá production facility and existing feed operations.
“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. Our expertise in the production of sustainable marine raw materials and byproducts, 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,” said Gunnþór Ingvason, CEO of Síldarvinnslan.
The Icelandic aquaculture industry has grown tenfold since 2010, with both at-sea farms and land-based facilities, some tapping into geothermal energy sources unique to Iceland. The companies say Iceland is an ideal location for a net-zero facility that will reduce the need for imported feeds while benefiting from Iceland’s cost-effective energy supply.
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BioMar has released a plan for achieving net-zero under the Science Based Targets initiative (SBTi) by no later than 2050.