Noray Seafood and Salmon Evolution have scored distribution agreements with Falkenberg, Sweden-headquartered seafood firm Korshags Foods.
Created in 2008 and known as Gamba Natural until 2020, Noray Seafood is a land-based vannamei shrimp farmer that operates a fully vertically integrated “microbiome” production facility in Medina del Campo, Spain.
Molde, Norway-headquartered startup Salmon Evolution runs a hybrid flow-through Atlantic salmon farm at Indre Harøy on the west coast of Norway. It produced its first fish in November 2022.
Founded in 1980 as a salmon-smoking firm, Korshags has since expanded into a distributor of premium seafood across Sweden and Finland, with an emphasis on sustainable products. Customers include retailers ICA, Axfood, and Mathem.
It was acquired in 2023 by Ocean Collective, co-founded by Pernilla and Niklas Korshag and Jorgen Bergqvist. Bergqvist said at the time Ocean Collective plans to “invest in a long-term strategy for growth and transformation toward the next generation of sustainable seafood.”
“We see ourselves as pragmatic visionaries with the ambition to be a positive force and a source of inspiration for how to combine existing solutions with innovative technology and sustainability to drive change with entrepreneurship as a driving force,” Bergqvist said.
Noray produced 40 metric tons (MT) of shrimp at its indoor facility in 2023 and is aiming for 120 MT in 2024, which would nearly max out its pilot farm’s capacity. If the company continues to see solid sales, it will consider either enlarging the farm or building a larger facility elsewhere, Noray Seafood Marketing and Branding Head Yolanda Patiño Iglesias told SeafoodSource at the 2024 Seafood Expo Global in Barcelona, Spain.
The farm can probably produce up to 150 MT of shrimp, but if the company can sell through 120 MT, it will likely look to build another facility or enlarge its current campus, according to Patiño Iglesias.
Korshags plans to begin trial sales at several Swedish restaurants beginning in the autumn of 2024, according to Noray Seafood CEO Benjamin Björkenheim Ajo.
"Noray Seafood is redefining the global shrimp industry with a whole new level of quality and sustainability for shrimp farming, an industry that faces challenges in terms of sustainability. We are continuing to build new markets outside of Spain in response to the growing demand for sustainability, and we are, therefore, very pleased to form a new partnership with Korshags,” Ajo said. “Since we share the core values of quality and the importance of sustainability, the partnership enables us to unleash the full potential of our products on the environmentally conscious Swedish market.”
Also starting in the fall of 2024, Korshags will become Salmon Evolution’s exclusive distributor in Sweden, “with volumes limited as it ramps up production,” according to Ocean Collective CEO and Korshags Foods CEO Jörgen Bergqvist.
"Korshags' vision is to change the view of seafood and make it simpler, more accessible, and tastier while never compromising our belief in healthy seas and genuine craftsmanship," Bergqvist said. "We are very proud of this new transformative partnership which, together with our brand and innovation pipeline, will be a cornerstone of our future growth and sustainability strategy.”
Salmon Evolution recently completed a NOK 365 million (USD 34.6 million, EUR 32.3 million) private placement to help fund its next growth phase, which will include an upgrade on its annual production capacity to 18,000 metric tons. The company also posted its first positive earnings ever in Q1 2024 on the back of a successful harvest and strong pricing for its salmon.
"Validating our concept in a key market like Sweden, known for its strong focus on sustainability, and collaborating with a leading partner like Korshags fits perfectly with our strategic plans," Salmon Evolution Chief Commercial Officer Odd Frode Roaldsnes said.
