Statt Torsk AS starts processing and delivery

Starting today, Statt Torsk AS (“Statt”) will deliver 2-3 trailers with Statt cod per week to the market. The processing at Per Stave AS started this morning. Statt has buyers for the entire production through Lerøy Seafood. When the last trailer leaves Stave at the end of January, Statt will finish his third and final pilot production.

Stad, 30. November 2021 – Statt Torsk AS (STATT)

Expected production to be harvested now is expected to be between 500-600 tonnes WFE (Whole Fish Equivalent).

Leif-Ronny Rætta, COO of Statt comments: "Processing locally at Stad is now realized. This gives us an efficient local value chain with very short transport distances, and short time from sea to processing.  We believe we offer the most sustainable product possible. The experience we get from this year's processing will be of great benefit to us from 2022, when we will start producing full scale volumes of fish. This factory was possible to realize due to a fantastic effort by all at Per Stave AS and the local service companies at Stad».

All production will in this round be delivered to the consumer market as whole fish/HOG (Head On Gutted), in addition to a small sample production on filleting. The residues will be used for industrial products. From 2022, Statt will also deliver processed high-end consumer products.

The main market for Statt cod will be EU, with strong and even demand for fresh fish. We believe we meet this market with products with high quality and strong focus on sustainability.

"This year's delivery is according to our plan, sold at prices that show development in accordance with our expectations. The product we bring to market has not been available before. By that I mean that Statt cod is a super fresh fish that is in the market in EU 2-3 days after it has been lifted out of the sea. We are more and more confident that farmed cod will be a new product in the market, in line with what farmed salmon has become. The fact that buyers, distributors, retail chains and not least - customers, must get used to the freshness of farmed cod offers, means that it takes time to develop a market. At the same time, volumes must increase, and we must see year-round delivery", says Gustave Brun-Lie, CEO of Statt Torsk AS.

For more information contact:

Gustave Brun-Lie, CEO, or Bjug Borgund, CFO,

About Statt Torsk AS

Statt Torsk AS is listed on Euronext Growth with ticker STATT and with operations in Stad municipality. The company produces and sells Atlantic cod. In 2016-2020, the company carried out two pilot productions to clarify whether commercial production was possible. The company is on its way to commercial production, and now has two sites in Vanylvsfjorden. The company has a target of 12,000 tonnes WFE (Whole Fish Equivalent) annual production by 2024.