Norwegian land-based salmon farmer Proximar Seafood has reported a harvest of 321 tonnes head-on gutted (HOG) for the second quarter of 2025. The company also announced it has completed a private placement to raise gross proceeds of NOK14.2 million ($1.4 million).
The second-quarter harvest volume was lower than previous expectations due to postponed harvests and a lower average fish size of approximately 2.3 kilograms (HOG).
The company said production was significantly affected by a previously reported mortality incident in May related to biofilter issues. All farm modules at its Oyama, Japan facility are now back in operation. At the end of the quarter, standing biomass was 1,294 tonnes.
Joachim Nielsen, CEO of Proximar, stated that with full capacity now restored, the company expects growth rates to increase.
The private placement was completed through the issuance of over 14.2 million new shares at a price of NOK1 per share. The company stated the funds were raised to address short-term liquidity needs.
The placement was directed at underwriters for a planned rights issue, which will be conducted in August or September to allow all shareholders to participate at the same price.
