Andfjord Salmon

Board/Management Information • Sep 21, 2021

Andfjord Salmon appoints Jostein Nilssen as its new Project Director

Andfjord Salmon appoints Jostein Nilssen as its new Project Director

21.9.2021 08:00:00 CEST | Andfjord Salmon | Non-regulatory press releases

Andfjord Salmon is excited to announce the appointment of Jostein Nilssen as its

new Project Director. Nilssen has international experience as a project manager

and Offshore Installation Manager in ConocoPhillips, and was most recently

Production Director in Øksnes Entreprenør. The new role of Project Director will

be a part of Andfjord Salmon's management group.

"Jostein Nilssen has highly relevant and unique experience in developing big

international projects. He has documented his ability to implement and deliver

results, having led innovative projects for one of the world's biggest oil

companies. Jostein Nilssen will have a key role in the future development of the

company's facilities," says Martin Rasmussen, CEO of Andfjord Salmon AS.

Jostein Nilssen has experience from the position of Offshore Installation

Manager on Ekofisk for ConocoPhillips. In the same company, he served as project

manager for the first turnarounds of the LNG (liquefied natural gas) facility in

Darwin, Australia, which is similar to the Snøhvit facility at Melkøya. He was

also based in Houston for three years, with overriding responsibility for

follow-up and coordination of maintenance/turnarounds for all of

ConocoPhillips's onshore and offshore facilities. During the last four years,

Nilssen has been Production Director in Øksnes Entreprenør with overriding

responsibility for all of its projects and factories.

"Andfjord Salmon has ambitions and concrete development plans that are very

attractive. Being allowed to take part in this industrial adventure is an

opportunity one cannot pass up. With my experience from technological

innovations both offshore and onshore, I'm really looking forward to using my

expertise in the future development of the company," says Nilssen.

Andfjord Salmon AS is developing land-based facilities at three different sites

on Andøya. This summer, the first pool was completed and handed over. This pool

is now entering a test phase, while the development of the remaining pools and

sites is proceeding at full capacity. In total, Andfjord Salmon has the

potential to produce 90,000 tonnes of salmon HOG.

In contrast to other land-based initiatives, Andfjord Salmon AS uses

flow-through technology, with technological adaptations developed by the company

itself. The facility utilises its unique access to tempered water directly from

the Gulf Stream, and is not dependent on pumping, heating/cooling, or other

costly operations. It´s estimated that the energy usage is as low as 1 kWh per

kilo of produced salmon.

"We are on schedule with our long-term plans to produce approximately 90,000

tonnes of salmon, with the smallest environmental footprint ever seen. Jostein

Nilssen is the best person to have with us when we will now be realising our

further development plans", says Rasmussen.

Jostein Nilssen starts in his new post as Project Director on September 21,

CONTACTS

* Martin Rasmussen, CEO, +47 975 08 665, martin@andfjord.no

ABOUT ANDFJORD SALMON

About Andfjord Salmon AS

Andfjord Salmon's head office is at Kvalnes on Andøya in Vesterålen. The company

has developed an innovative and sustainable method for the land-based farming of

Atlantic salmon. The salmon cannot escape or be exposed to Salmon lice, and is

produced with minimal energy consumption. Bio residue and waste is collected and

recycled. The system is based on flow-through technology that does not require

the reuse and recirculation of water. The company's ambition is to build the

world's most sustainable aquaculture facility of its kind. With the best of both

worlds, we are combining the advantages of both sea-based and land-based

aquaculture.The result is good salmon welfare and sustainable production in

arctic waters - at 69 degrees north.

www.andfjordsalmon.com - http://www.andfjordsalmon.com - www.andfjord.no -

http://www.andfjord.no

Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF.

ATTACHMENTS

Andfjord Salmon new project director.pdf -

https://kommunikasjon.ntb.no/ir-files/17847566/852/1112/Andfjord%20Salmon%20new%

20project%20director.pdf