WA3RM and BIO3 to develop unique production facility at NorSea Atlantic
The Swedish impact company WA3RM and Norwegian BIO3 have agreed to jointly develop a protein production facility for animal (primarily fish) feed at NorSea’s “NorSea Atlantic” site in Averøy, Norway.
The production facility meets a significant domestic andinternational demand for sustainable protein sources for aquaculture growth. In establishing a large-scale production facility at NorSea Atlantic in Norway, BIO3’s production will convert agri- and forestry industry side streams into highly nutritious, versatile fungi-based proteins in large volumes.
“Last year, the Norwegian government set a goal that by 2034 all feeds for farmed fish
and livestock must come from sustainable sources. Meeting this target requires asignificant expansion of production based on novel feed ingredients. Our joint production facility with WA3RM and NorSea will demonstrate how it can be done”, says Sigmund Røeggen, CEO BIO3 AS.
BIO3 and WA3RM have designed the production facility, which BIO3 will operate. The
facility will be set-up as a SPV (Special Purpose Vehicle) and WA3RM will structure the
financing with a mix of green bond and long-term loan financing in collaboration with
strong financial partners.
”Adding protein production to our platform of food systems is yet another proof of the
global potential for using by products from industrial production as an enabler for a
brighter future. The world rapidly needs sustainable and scalable solutions to lower the
impact from food production for both humans and animals”, says Jacques Ejlerskov,
CEO WA3RM AB.
WA3RM recently announced a partnership with Wilhelmsen owned NorSea Group to
exploit their infrastructure to develop new circular industrial projects where waste
streams from a primary anchor industry are turned into valuable new resources. The
BIO3 production facility at NorSea Atlantic in Averøy is the first proof of this concept.
“NorSea is impressed by the innovative attitude and expertise that our partners BIO3
and WA3RM possess. We are proud to be part of this team and look forward to
contributing to the best possible establishment of our location on Averøy, NorSea
Atlantic. The possibilities and not least the scalability of this project will provide great
opportunities with circular value chains that we have not seen in our widespread
infrastructure so far”, says Frode Aass, Senior Vice President, NorSea Group.
The construction start of BIO3’s production facility (phase 1) at NorSea Atlantic is set to
the third quarter of 2025.
