Thor Salmon Secures $28M to Revolutionize Land-Based Salmon Farming in South Iceland

Thor Salmon is thrilled to announce a significant milestone in our journey toward revolutionizing sustainable aquaculture—a successful funding round of $28,000,000. This investment marks a strategic step forward in our mission to establish an innovative, land-based salmon farm near Thorlakshofn, South Iceland. Our unique location is a true natural wonder, where pristine seawater, naturally filtered through ancient lava fields, provides the ideal environment for rearing high-quality salmon. This distinctive setting not only ensures superior water quality but also maintains optimal temperatures that are crucial for the growth and health of our fish. The infusion of capital will be directed toward the phased development of our state-of-the-art aquaculture facility. In the first phase, we will construct a cutting-edge smolt facility, paving the way for the subsequent on-growing facility designed to support an impressive production capacity of up to 5,000 tonnes initially, eventually growing to an ambitious target of 20,000 tonnes per year. Essential to our infrastructure is the utilization of hybrid flow-through technology, which not only enhances the efficiency of water usage but also minimizes environmental impacts, aligning with our commitment to sustainability and best practices in aquaculture. This capital raise is not just a financial boost—it is a vote of confidence in our vision and in the transformative impact that sustainable, land-based aquaculture can have on the future of food production. At Thor Salmon, we are excited to use this funding to drive technological innovations, expand our facility, and firmly position ourselves as leaders in environmental stewardship and responsible fish farming. We look forward to sharing our continued progress and success with our investors, partners, and the broader community.