Aquaculture, better known as fish farming, has been a staple of Iceland’s economy since the 1950s. Today, thanks to scientific breakthroughs in fish breeding as well as a better understanding of the country’s own natural advantages, aquaculture has become a thriving industry which is expected to double in production in 2021. Keeping up with the Icelandic ambition to have a fully green powered economy, energy consumption and production costs can easily be reduced thanks to the availability of geothermal water, as well as local workers which have decades of experience in the field. Swapp Agency will be able to guide you throughout the process of investing in fish farms in Iceland, as well as answering any other inquiry you may have.
Fish farming in Iceland, a thriving tradition
Iceland is well known for its commitment to green energy, and one of the few countries in the world with an almost completely green energy grid. This guarantees any project set up on the island to have a close to zero-carbon foot print. Fish farming is no exception. While aquaculture in other countries will consume massive amounts of energy to achieve the right temperature for fish growth, Iceland has limitless quantities of geothermal water which can be used not only as a green solution, but also to reduce production costs dramatically.
Fish farming in Iceland has a long history, going back to the 1950s. The industry has found new life since the 1990s with scientific advances in the fields of fish breeding, which allows the best fish to be bred at Icelandic farms. This has earned the country the rank number 1 in production of Atlantic Char, as well as being one of the top producers of Atlantic cod and Atlantic salmon.
Being a thriving industry still on the rise, the Ministry of Finance of Iceland expects its production to keep growing well after 2021. The promise the industry shows, coupled with the growing importance of a zero emission production chain, makes Icelandic aquaculture one of the most promising and sought after investment opportunities in Europe.
Companies such as Matorka and Stolt Sea Farm have already start producing fish using the country’s natural energy resources, and in October 2019, Iceland’s largest aquaculture enter opened, with an investment of ISK 4 billion. It also uses geothermal heat.
With good consultancy services, a prospective investor can familiarise themselves with fish farming in Iceland, analysing the potential investment opportunities the industry holds, and become a part of a growing industry which mixes natural resources with science, all within a green and renewable production system.
Get in touch with Icelandic professionals
To have an extensive consultancy relating to aquaculture and investing in fish farming in Iceland, contact Swapp Agency. We are a leading group of experts in diverse fields. Our professional team will be happy to assist you throughout the process of investing in the aquaculture industry, purchasing fish farms, and any other need you may have. Regardless of the industry or area, we are prepared to solve all your inquiries.