Thor Salmon is among four leading land‑based aquaculture companies that have signed a declaration of intent to establish formal cooperation on the responsible treatment and reuse of side streams from land‑based farming. The other participants are First Water, Laxey, and Samherji Fish Farming.
The agreement builds on work initiated within the Terraforming LIFE project, which involves First Water, the Icelandic Farmers Association, Orkídea, Ölfus Cluster, and SMJ. The project aims to convert a mixture of land‑based aquaculture sludge and livestock manure into organic fertiliser and biogas.
Terraforming LIFE describes the agreement as a milestone in sustainable resource management in Iceland.
The aim is to turn waste into valuable products, strengthen sustainability in aquaculture, and support Iceland’s circular economy. The companies will now begin planning a joint venture to process aquaculture sludge, including the development of a 24-month business plan and a financing strategy.
Margrét Ágústa Sigurðardóttir, Managing Director of the Icelandic Farmers’ Association:
“This declaration of intent demonstrates that Icelandic aquaculture is ready to unite and work towards sustainable solutions. Through this joint initiative, in collaboration with Terraforming LIFE and the Icelandic Farmers’ Association, the aim is to transform waste streams into valuable products and strengthen Iceland’s circular economy. This is an important step for the land sector and a role model.”
The Terraforming LIFE website describes this commitment as a major step not only for the Terraforming LIFE project but also for the European Union’s LIFE programme, which supports environmental solutions across Europe.
At the signing of the letter of intent:
Lárus Sigurður Ásgeirsson, Chairman of the Board of Directors of Laxey;
Jón Kjartan Jónsson, Managing Director of Samherji Fiskeldi;
Jónatan Þórðarson, Thor Salmon’s Head of Aquaculture;
Eggert Þór Kristófersson, First Water’s Managing Director.