AKVA group ASA (“AKVA”) hereby announces that its wholly owned subsidiary, AKVA group Land Based A/S, is the chosen technology supplier of a full grow-out RAS project for Atlantic Salmon to Nordic Aqua Partners, in China (“The Project”). The Project’s targeted harvest volumes are 8,000 tonnes in 2026. The realization of The Project and AKVA’s delivery is dependent upon certain conditions to the Project’s equity financing, which is scheduled to be concluded in January 2020.

The value of AKVA’s delivery is estimated to be NOK 500 million in the period 2020 to mid-2023. Further, AKVA will participate with 3,1 MEUR in equity in The Project. The equity participation is considered by AKVA to increase its opportunity for a close follow-up on all technical, operational and biological performance measures, to ensure successful project delivery.

Dated: 20 December, 2019

AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Nesse Chief Executive Officer
Phone:+47 51 77 85 00
Mobile:+47 91 37 62 20
E-mail:knesse@akvagroup.com


Simon Nyquist MartinsenChief Financial Officer
Phone:+47 51 77 85 00
Mobile:+47 91 63 00 42
E-mail:snmartinsen@akvagroup.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act