Fifax: First new egg batch has arrived – fish farming starts ahead of schedule at the Eckerö facility

Fifax Plc, Investor News, 15 March 2023, at 12.15 p.m. EET

Fifax has restarted fish farming operations at the Eckerö RAS facility slightly earlier than planned. The first new batch of eggs arrived at the facility on Tuesday, following the completion of necessary preparations to restart the hatchery after a successful six-week dry period. The fish eggs are now developing in the hatchery basins.

”It is fantastic to see fish growing again at the Eckerö facility. Initiating the hatching process marks the first tangible step in resuming our farming operations. The fish that will develop from the eggs received yesterday will eventually become the first ones we will once again deliver to our customers”, says Samppa Ruohtula, Fifax’ CEO.

During this year, Fifax aims to achieve full production in both the hatchery and fingerling units, initiate the first grow-out unit, and to make investments in increased biosecurity and performance in these units. Production corresponding to full capacity is targeted during the second half of 2024.

The Rights Offering announced earlier is currently ongoing. The subscription period is 8 – 22 March. The Basic information document, Terms and Conditions of the Offering, together with other material related to the offering are available on the Fifax website at the address www.fifax.ax/en/rightsoffering.

For more information:

Samppa Ruohtula
CEO, Fifax Plc
+358 40 559 8812
samppa.ruohtula@fifax.ax

Fifax in brief

Fifax’s vision is to be a forerunner in large-scale sustainable fish farming with a minimal impact on the environment, so that locally and sustainably produced fish can be enjoyed by its customers all year round.

Established in 2012, Fifax utilizes ultra-intensive Recirculating Aquaculture Systems (RAS) technology based on the principle of an almost completely closed water circulation within the facility, where the fish live in large land-based indoor tanks. Indoor tanks better safeguard against external factors, and the environmental impact and pollution from the facility is significantly lower when compared to traditional fish farming in water bodies.

FIFAX Plc’s shares have been listed in Nasdaq First North Growth Market Finland.