Last week, the Terraforming LIFE consortium held a successful monitoring meeting with representatives from CINEA (the European Climate, Infrastructure and Environment Executive Agency) and ELMEN EEIG. The meeting took place at the Town Hall in Þorlákshöfn, and was attended by all consortium members as well as representatives from Rannís (the Icelandic Centre for Research), which serves as Iceland’s national contact point for EU funding programmes.

After the meeting, all participants visited First Water, the lead beneficiary of the Terraforming LIFE project. Already operating its land-based salmon farming facility in Þorlákshöfn. First Water is expanding in phases as part of the largest private investment ever made in Iceland—valued at about ISK 115 billion (€≈750 million). Stefán Jessen, CTO, Helgi Logason, CFO and Sigurður Trausti Karvelsson, Terraforming LIFE project coordinator guided the group on a tour of their state-of-the-art infrastructure. 

• The facility is organized in six phases, each designed to produce approximately 8,300 tonnes of head-on gutted (HOG) salmon annually.
• Phase 1, currently underway, alone represents around 5% of the total production target, i.e., about 8,300 tonnes out of 50,000 tonnes.
• Construction has progressed well—with 14 tanks already operational. Total project progress is estimated at roughly 15%.
• The tanks themselves are impressive: they are circular and range from 20 to 28 meters in diameter, designed for highly efficient water circulation and optimal fish health.
• We got to see the drum filter station, a crucial component for minimizing the environmental footprint of the farm. First Water has set an ambitious goal of filtering up to 80% of the fish sludge produced at the facility.  
• The dewatering station at First Water is not yet operational but is expected to be fully installed soon. This facility will play an important role in the Terraforming LIFE project by efficiently separating solids from fish sludge, enabling nutrient recovery and reducing waste volume. Its implementation is essential for advancing the project’s goals of sustainable biogas and fertilizer production.

First Water has commenced salmon harvesting, producing approximately 700 metric tons (MT) in 2023. In 2024, output more than doubled to about 1,700 MT, surpassing initial projections of 1,500 MT. Production is expected to reach 2,000 MT in 2025, with further growth to 5,000–6,000 MT projected for 2026, and 8,500 MT targeted for 2027. Upon full completion of the facility—anticipated around 2029–2030—annual capacity is designed to reach 50,000 MT.

This visit offered a unique opportunity to see how large-scale aquaculture is being developed in Iceland. The facilities we toured are directly connected to our work on turning fish sludge into valuable resources. Seeing the new tanks, filtration systems, and production setup first-hand gave our team and the monitoring representatives a clear picture of the progress to date and the future potential of Terraforming LIFE.