Iceland-based land-based aquaculture company First Water has begun harvesting and packing five-kilogram salmon for export to international markets, with the first batch sold to buyers in the United States and Europe.
The company said it is among the first land-based aquaculture producers worldwide to supply salmon of this size.
Earlier this summer, First Water commissioned its first 25-metre covered tanks, four of which are now operational out of a planned eight. The tanks are designed to ensure year-round production of consistent, high-quality salmon by reducing exposure to storms, birds, noise, and outside pathogens.
The company said it has invested about €56 million this year in tanks, equipment, and related infrastructure. Its long-term development plan consists of six phases, with the first scheduled for completion in 2027.
Each phase is expected to deliver an annual production capacity of around 10,000 tonnes of gutted salmon.
Water for the operation is filtered through lava rock and treated with advanced purification systems before being discharged, which the company said results in seawater cleaner than natural conditions off Þorlákshöfn.
First Water also noted that a new processing facility has been commissioned at the harbour in Þorlákshöfn with capacity to handle 20,000 tonnes of gutted salmon per year.
Eggert Þór Kristófersson, CEO of First Water, said the harvest demonstrates the company’s ability to meet global demand for sustainable protein. He noted that growth rates since stocking the first fish in July 2024 have exceeded expectations, with 94 per cent of production graded as premium quality.