Icelandic salmon farmer raises £35m for new project

Icelandic land salmon farming company Laxey, formerly known as Icelandic Land Farmed Salmon, has successfully completed a £35.5m ($43.4m) share capital increase. Laxey is developing a new fish farm on Heimaey in the Westfjords region, with a production capacity target of 32,000 tonnes by 2031. Construction will commence in November, and the first harvest is expected within two years. The project is set to generate at least 100 direct jobs and numerous indirect employment opportunities. Laxey plans to build the farm in six phases, with the first phase operational by mid-2024 and the first slaughter scheduled for late 2025. (Fish Farmer Magazine)