Andfjord Salmon

Regulatory Filings • Dec 16, 2021

Andfjord Salmon: Successful verification of laminar water flow

Andfjord Salmon: Successful verification of laminar water flow

16.12.2021 11:03:00 CET | Andfjord Salmon | Inside information

? Verification of laminar water flow technology

? Salmon's natural habitat recreated on land

? De-risks business case significantly

Following a period of successful testing, Andfjord Salmon has verified the

laminar water flow technology at its first pool at Kvalnes, Andøya.

"In practice, this confirms that we have been able to recreate wild salmon's

natural habitat on land. In the wild, salmon swims in laminar water flows in the

ocean, similar to what we now have in our pool at Andøya. Never have I been more

certain that we will meet our ambition of building the world's most sustainable

aquaculture facility of its kind," says Martin Rasmussen, CEO of Andfjord

Salmon.

During the past couple of weeks, Andfjord Salmon has gradually increased the

intensity of its flow-through technology tests. The tests have included

utilization of the complete water inlet and outlet infrastructure, filling of

pool, activation of power adapters, gradual increase of the laminar water flow -

from minimum to maximum - and measurements of the water flow, plus analyses of

how the pool infrastructure reacts to the laminar water flow.

The laminar water flow is the heart of Andfjord Salmon's flow-through

technology. It is this technology that enables the creation of a natural

environment in which the salmon can thrive in. It also allows the company to

produce fish at an energy cost at only 1 kWh per kilo.

A flow-through system with laminar water flow reduces energy consumption and

associated costs significantly as there is no need to lift, filter or heat the

seawater. Simply because the seawater is clean and holds a perfect temperature

as it is sourced directly from the nearby Andfjorden.

"This is a major technological milestone for Andfjord Salmon and a really nice

Christmas present to our shareholders, utilizing our own technology. We were

always confident in the technological capabilities, but humble to the fact

demonstrating it in practice is what matters. As such, the successful

verification of the laminar water flow helps to de-risk our business case

substantially," says Martin Rasmussen.

The testing and fine tuning of the laminar water flow technology, and other pool

functions, will continue over the coming months.

Andfjord Salmon's aim is to release first smolt during the second quarter 2021.

DISCLOSURE REGULATION

The information in this announcement is subject to disclosure requirements under

the EU Market Abuse Regulation and Euronext Growth listing rules. The

information was submitted for publication by the contact person set out below.

CONTACTS

* Bjarne Martinsen, CFO, Andfjord Salmon AS, +47 975 08 345,

bjarne.martinsen@andfjord.no

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

ABOUT ANDFJORD SALMON

About Andfjord Salmon AS

Located at Kvalnes on the island of Andøya on the Arctic Archipelago of

Vesterålen, Norway, Andfjord Salmon has developed an innovative and sustainable

aquaculture concept for land-based farming of Atlantic salmon, based on a

flow-through technology solution. The company's ambition is to build the world's

most sustainable aquaculture facility of its kind.

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

www.andfjordsalmon.com - http://www.andfjordsalmon.com/