AFISH: Arctic Fish, Eykt and Eyvi Join Forces on New Smolt Facility in Tálknafjördur, Iceland

Arctic Smolt, a subsidiary of the salmon farming company Arctic Fish ehf in
Iceland's Westfjords, has entered into two separate agreements on the expansion
of the company's smolt facility at Nordur Botn in Tálknafjördur, Iceland. One
contract is with Eykt ehf, an Icelandic construction company which will design
and construct the buildings, and another contract with Eyvi AS, an international
supplier of RAS turnkey facilities. Eyvi will design, deliver and install a
comprehensive solution including a water recirculation system (RAS), piping and
auxiliary systems for production. The water is recycled and purified to ensure
water quality and high smolt welfare. A backup power station is also a part of
the project. Three 1.4 MW generators will be delivered and installed by
Aflhlutir ehf. The Faroese aquaculture consultancy SMJ Aqua advised Arctic Fish
during the preliminary design and tender phase. "We are very pleased to have
Eyvi and Eykt on board and to get this project underway on site," says Ragna
Helgadóttir, project manager for Arctic Fish.

The project is one of the largest private investment projects in the Westfjords,
with an estimated cost of EUR 24 million. 4,200 square meters of new floorspace
with a total of about 7,200 cubic meters of tank space will be added to the
existing 10,000 square meters and 6,300 cubic meters of tanks. After the
expansion, the station's annual breeding capacity will be about 1,000 tons of
smolt, or the equivalent of about five million 200-gram smolts. And from there
it should be possible to farm approximately 25,000 tonnes of salmon.

Construction will begin shortly when the building permit has been granted. It is
estimated that the construction phase will last about two years and that about
40-50 people will be involved in the project during construction. 

"The Eyvi team is proud and excited to enter this agreement with a highly
competent client. In collaboration with Arctic Smolt, we have developed a
tailormade facility suited for their special requirements and the conditions in
Iceland. During the collaboration phase we focused on optimizing solutions for
safe and secure operations and fish health," says Heidi Kyvik, CEO of Eyvi AS. 

"Eyvi is fully committed to assist the client to achieve optimal operation of
the facility. Ensuring client satisfaction is how we build Eyvi's reputation as
a reliable partner for the industry", says Kyvik."The aquaculture industry is
growing fast with high focus on sustainability. To take an active role in this
trend we are constantly developing more sustainable solutions for land-based
production. We consider Iceland as a highly interesting country for our further
development" says Kyvik.

"We are pleased to have the opportunity to be part of the developments in fish
farming in the Westfjords. Eykt will oversee the design of the civil work and
construction, as well as coordinating and sourcing the building process. We are
very excited to work in the Westfjords and Tálknafjörður and get this
development underway", says Páll Daníel Sigurðsson, CEO of Eykt. 

Arctic Fish currently employs a staff of about 70 people with about 10,000 tons
of salmon in the sea spread over three fjords. It is estimated that about 12,000
tonnes will be harvested this year. About fifteen people work in the company's
smolt production and the number will increase slightly with the planned
expansion.

"We are growing rapidly as a company and aim to harvest about 24,000 tons within
three years. In order to realize this growth and achieve a greater focus on
larger smolt, which spend less time at sea, we want to undertake this expansion.
We are confident that the people we have partnered with share our objective of
building a state-of-the-art grow out facility, which will provide a foundation
for robust aquaculture operations," says Stein Ove Tveiten, CEO of Arctic Fish.