AKVA group (AKVA) is pleased to announce that it has entered into a Supply and Sales Contract with Grieg NL Seafarms Ltd, the marine based operations of Grieg NL. Grieg NL's aquaculture project in Newfoundland and Labrador includes developing significant production of salmon in Placentia Bay, Newfoundland, Canada. Under the Supply and Sales Contract, AKVA group, through its wholly owned Canadian subsidiary AKVA group North America Inc., will become exclusive supplier of feed systems and feed barges for the period up to 2026.
The barges will be built locally, utilizing AKVA's decades of experience within feed barge design and innovation. The Supply and Sales contract's scope is for a minimum of eight barges. The final number of barges is dependent upon the final number of licenses/sites issued and approved by the Province of Newfoundland and Labrador and the Federal Authorities.
Final Sales Contracts will be determined by AKVA group and Grieg NL when the final design of the barges is agreed. The delivery is estimated to commence with the first three barges in Q2 2020.
Web: www.akvagroup.com
CONTACTS:
| Hallvard Muri | Chief Executive Officer |
| Phone: | +47 51 77 85 00 |
| Mobile: | +47 91 58 07 50 |
| E-mail: | hmuri@akvagroup.com |
| Simon Nyquist Martinsen | Chief Financial Officer |
| Phone: | +47 51 77 85 00 |
| Mobile: | +47 91 63 00 42 |
| E-mail: | snmartinsen@akvagroup.com |
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AKVA group is the leading provider of technology and services to the global fish farming industry and the only with global distribution. The products consist of software systems, operational equipment and sensor systems, feed systems, cage systems, net cleaning systems, light systems and recirculation aquaculture systems.