Årdal Aqua’s post-smolt facility resumes under Akva Group following contractor bankruptcy

NORWAY – Årdal Aqua has enlisted AKVA group to take over and complete its 6,000-ton post-smolt facility in Årdal, Vestland County, Norway, after the original contractor, Billund Aquaculture, declared bankruptcy. 

AKVA group, recognized as the world’s largest supplier of aquaculture solutions, has been tasked with ensuring the project’s completion by June 2025.

The state-of-the-art facility, consisting of four modules with a capacity of 1,500 tons each, is expected to be a game changer for Norway’s aquaculture sector. 

Initially designed by Billund Aquaculture to produce Atlantic salmon post-smolt with an annual production capacity of 6,000 tons and a daily feed capacity of 25 tons, the project encountered delays following Billund’s financial troubles. Despite these setbacks, Årdal Aqua’s expansion plans remain intact.

Billund Aquaculture, a Danish company specializing in recirculating aquaculture systems (RAS), filed for bankruptcy in July 2024. After 40 years of operations, the company struggled to secure the necessary capital to continue its business, despite solid operational performance. 

Managing Director Kristoffer Lund explained that legacy disputes from earlier operations had made it impossible to raise sufficient funds, ultimately forcing the company to cease operations.

The company’s finances took a hit due to the consequences of the Covid pandemic and Russia’s war on Ukraine, but significant changes in project and risk management have been implemented over the past two years.

Despite good operational progress, the company’s efforts to secure its capital needs were ultimately hampered by disputes from before the 2022 changes.

“Based on this, the board has concluded that there is no basis for further operation. Efforts will now be made to find the best possible solutions for all our employees, customers and creditors.”

With AKVA group stepping in, Årdal Aqua is confident that the facility will be completed as scheduled. Nils Viga, General Manager of Årdal Aqua, highlighted AKVA group’s expertise and the integration of key personnel from Billund as crucial to the project’s continuity. 

“We are confident that their expertise and the integration of key personnel from the previous supplier will ensure progress and completion by June 2025,” Viga stated.

Owned by Omfar AS, Grieg Seafood Rogaland AS, and Vesthavbruk AS, Årdal Aqua is developing the facility to support the production of large smolt for food fish farmers in Rogaland. 

The facility will also have the capability to produce food fish, with a target capacity of 15,000 tons per year by 2030, spread across ten production halls.

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