Atlantic Sapphire

Regulatory Filings • Sep 15, 2021

Atlantic Sapphire ASA: Fire at Atlantic Sapphire’s Denmark facility

Atlantic Sapphire ASA: Fire at Atlantic Sapphire’s Denmark facility

Miami, FL, Sep 15, 2021

On September 15, 2021 at approximately 8:20pm CEST, a fire broke out in the facility of Atlantic Sapphire Denmark A/S, a wholly-owned subsidiary of Atlantic Sapphire ASA (the “Company” or “Atlantic Sapphire”). All employees are safely out of the building and accounted for. There are no reported injuries. The fire is ongoing and the fire department is handling the situation at the Danish facility.

The Company expects the full Danish facility will be impacted by the fire and that the damages will be material and substantial. The cause of the fire is currently unknown. The standing biomass in the Danish facility is expected to be lost.

The Danish facility is insured against fire for the full book value of the facility of approximately USD33 million.

The Company will provide additional updates as more information becomes available.

For further information, please contact:

Johan E. Andreassen 

Chairman, Atlantic Sapphire ASA, and CEO, Atlantic Sapphire USA LLC; 

Karl Øystein Øyehaug 

Managing Director, Atlantic Sapphire ASA, and Chief Financing Officer, Atlantic Sapphire USA LLC

investorrelations@atlanticsapphire.com

About Atlantic Sapphire ASA 

Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire has been operating its innovation center in Denmark since 2011 with a strong focus on R&D and innovation to equip the Company with the technology and procedures that enable the Company to commercially scale up production in end markets close to the consumer. 

In the US, the Company has identified and obtained the requisite permits to construct its Bluehouse® in the ideal location in Homestead, Florida, just south of Miami. The Company has completed Phase 1 construction, which provides the capacity to harvest approximately 10,000 tons (HOG) of salmon annually. The Company completed its first commercial harvest in the US in September 2020. Atlantic Sapphire has secured the key US water permits to produce up to 90,000 tons onsite, and has a targeted harvest volume in 2031 of 220,000 tons.