Major Milestones for Thor Salmon in Recent Weeks
Significant progress has taken place at Thor Salmon in recent weeks, as the company has continued to advance its land-based salmon farming operations in Þorlákshöfn. Recent developments include participation in an international aquaculture conference in Bergen, the appointment of experienced entrepreneurs to the company’s board of directors, and the first delivery of smolt from its new smolt facility.
Showcasing Operations at NASF 2026 in Bergen
Thor Salmon recently participated in the NASF 2026 conference in Bergen, Norway, where the company presented its operations and development plans to international stakeholders in the aquaculture industry.
During the conference, Thor Salmon highlighted the progress of its project in Þorlákshöfn, its sustainable approach to land-based salmon farming, and its long-term vision for large-scale salmon production in Iceland. The company’s participation attracted interest from investors, technology providers, and industry professionals.
Experienced Entrepreneurs Join the Board
The company also announced that two experienced entrepreneurs have joined Thor Salmon’s board of directors, further strengthening the company’s management and strategic development during an important growth phase.
The new board members bring extensive experience from business development, investments, and corporate growth, and their appointment is considered an important step in the company’s continued expansion.
Computer-generated image showing the planned future appearance of Thor’s facility in Þorlákshöfn.
The transport of the first smolt marks an important milestone in Thor Salmon’s development.
First Smolt Delivery from Þorlákshöfn
Earlier this week, Thor Salmon completed the first delivery of smolt from its facility in Þorlákshöfn. The delivery went smoothly, with more than 330,000 smolt, each weighing around 100 grams, transported to the buyer, Kaldvík.
The smolt facility is now fully operational, and the fish are reported to be in very good condition. In the coming months, well over one million additional smolt will be delivered to customers, while part of the production will later be transferred into Thor Salmon’s own grow-out operations.
Steinþór Pálsson, CEO of Thor Salmon, says the first delivery marks an important milestone for the company and confirms that its development plans and growth strategy are progressing according to schedule.
Grow-Out Expansion Underway
Construction of the company’s first grow-out phase is currently underway. This phase will have an annual production capacity of 5,000 tonnes and has already secured full financing.
Fourteen tanks are being built as part of the first phase, with a combined volume of approximately 52,000 cubic metres. The first tanks are expected to become operational this autumn.
Thor Salmon’s expansion will take place in stages, with each phase financed before the next begins. According to current plans, the company’s annual production could eventually exceed 40,000 tonnes.