The Octopus solution will create access to oceans for worldwide fish farming and improve fish health and reduce environmental footprint – at a production price of NOK 32-34/kg.
Blár is in consideration for 1-14 development licenses for offshore fish farming in the North Sea and Norwegian Sea. One license allows for a production of 780 tons of fish per year to at least 50 MNOK, but a conversion cost of 10MNOK must be assumed if the development license is converted to normal license after the test period of 5 years (in this case).
In 2017, DNB Markets10 valuated each license to 120 MNOK. The government has sold licenses for 93.6 MNOK / license in 2017 and in an auction in June 2018, the weighted average of each license was 152 MNOK. The first approved “development license” applicants typically received 1 license per 90-95 MNOK of budgeted investment. The program is designed to give a risk reduction for technology developers, but too few licenses are given to make the development license system profitable unless the salmon price is higher than the expected 60 NOK /kg or the actual price for the project is less than budgeted.
Blár will seek to use local partners and Norwegian industry expertise to build its systems and further develop the technology.
In addition to the Norwegian market, Blár is looking to enter the Faroe Islands, Chile and more. With opportunity to sell and / or operate technology to other fish exporting countries like China, Tasmania, Canada, Iceland and Scotland
For more information, pleas contact us.