LAXEY
- Company typePrivate
- Founded2019
- HeadquartersVestmannaeyjar, Iceland
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
LAXEY firmographics
Firmographics- Name
- LAXEY
- Legal name
- Laxey ehf.
- Website
- https://laxey.is
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
LAXEY industry classification
Industry- Product category
- Land-based Aquaculture
- NAICS
- Finfish Farming and Fish Hatcheries (112511)
- SIC
- Agricultural Prod-Livestock & Animal Specialties (200)
- akta.pro primary industry
- Aquaculture Harvest, Processing & Packing (Farmed Finfish/Shellfish; On-Farm Plants) (AFANADAL)
- akta.pro secondary industry
- Aquaculture Farm Services & Operations Support (net cleaning, diving, grading, harvesting) (AFAEAAAM)
Keywords
Where LAXEY is headquartered
LocationHeadquarters
- HQ city
- Vestmannaeyjar
- HQ country
- Iceland
- HQ region
- Europe
Offices2 records
Markets served
LAXEY business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Infrastructure, Personnel, Technology or R&D, Operations, Supply Chain
Revenue model
- Salmon Production and Sales: LAXEY produces Atlantic salmon at its land-based facility in Vestmannaeyjar for export to international markets. The company completed its first harvest in November 2025 and expects to harvest approximately 4,000 tonnes in 2026, scaling to 5,000 tonnes. Production is sold as fresh Icelandic salmon shipped by sea to European and North American markets.
- Post-Smolt Sales: LAXEY generates revenue by raising and selling high-quality post-smolt to other aquaculture companies. The company leverages excess production capacity to cultivate post-smolt for third parties, reducing time in sea-based systems for buyers and enhancing biological outcomes across the value chain.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
LAXEY product offering
Product offeringCore offering
LAXEY operates a vertically integrated land-based Atlantic salmon farming operation in Vestmannaeyjar, Iceland, using a hybrid flow-through system with approximately 70% water reuse and a Recirculating Aquaculture System (RAS) smolt station. The company produces premium fresh Atlantic salmon (HOG) for export to European and North American markets and sells high-quality post-smolt to other aquaculture companies as part of a dual-revenue model. Operations are powered entirely by renewable hydro-electric energy via a Power Purchase Agreement with Landsvirkjun.
Product overview
LAXEY operates a vertically integrated land-based salmon farming system in Vestmannaeyjar, Iceland. The portfolio consists of a RAS Smolt Station (first of its kind in Iceland) for producing smolt from eggs, a Post-Smolt Facility for raising smolt before grow-out, a Grow-Out Facility using hybrid flow-through technology with 70% water reuse, and a Salmon Slaughterhouse for processing. The company employs a dual-revenue model, producing both market-size Atlantic salmon and selling post-smolt to third-party aquaculture companies. Technology infrastructure includes an integrated control and monitoring system developed with KAPP, Marel's AXIN software for processing analytics, and AKVA Group's SCADA systems for facility operations. Production targets 35,000 tonnes annually when fully built out across six sections.
Differentiator
Problem solved
Functional benefit
Products and services
- Fresh Atlantic Salmon (HOG) Premium land-farmed Atlantic salmon produced in Vestmannaeyjar, Iceland, harvested at 4-5 kg average weight with a 98% superior quality rating on first harvest. Sold fresh to international seafood buyers in Europe and North America and shipped by sea from Vestmannaeyjar.
- Post-Smolt (Third-Party Sales) High-quality post-smolt salmon produced at LAXEY's dedicated facility and sold to other aquaculture companies to reduce their time in sea-based systems and improve biological outcomes. Forms the second stream of LAXEY's dual-revenue model.
Quantifiable outcome
- 98% superior quality rating on first harvest with consistent conformation and attractive fillet color
- +3 more outcomes
Companies that use LAXEY
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
LAXEY technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
LAXEY partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core, major and minor.
- KAPP ehf.coreKAPP ehf. specializes in services and solutions for fish processing, aquaculture, and food retail. They are developing an integrated control and information system for LAXEY combining water quality monitoring with control of critical equipment and comprehensive operational oversight.
- AKVA GroupcoreAKVA Group is a leading supplier of aquaculture solutions contracted for design and delivery of smolt station facilities and grow-out systems. LAXEY signed agreements with AKVA Group for RAS smolt station (2022) and Smolt Station II (2026). AKVA provides Zero Water Concept, recirculating systems, oxygenation, degassing, SCADA, and electrical systems. The partnership includes grow-out module reuse technology implementation.
- ÍstæknimajorIcelandic technology company providing complete processing equipment for salmon slaughterhouse including bleeding/cooling tank, manual gutting line, and automatic cleaning system for equipment sanitation.
- MarelmajorGlobal leader in fish processing equipment and software. Providing Smartline Grader for precise size grading and AXIN software for real-time production data, traceability, and quality optimization in the slaughterhouse.
- BaadermajorInternational company specializing in salmon processing equipment development and manufacturing. Delivering processing equipment for LAXEY's land-based salmon slaughterhouse with focus on production quality and animal welfare.
- NorvaccminorVaccination services provider for fish health and welfare ensuring salmon health throughout their life cycle.
- Benchmark GeneticsmajorSupplier of salmon ova (eggs) for LAXEY's hatchery operations. Provides genetic stock for smolt production.
- LandsvirkjuncoreGreen Power Purchase Agreement (PPA) for renewable energy supply to the land-based aquaculture facility. LAXEY becomes Vestmannaeyjar's first large end user. When fully operational, power demand will be 22 MW. LAXEY purchases Guarantees of Origins (GOs) making it a green PPA.
- VETAQminorFish health and welfare company providing veterinary services, regular health inspections, knowledge sharing, and support for LAXEY's managers.
- Árni ehf.minorDrilling contractor responsible for drilling 25-35 wells (36-130 meters depth) for seawater supply to the grow-out facility in Viðlagafjara.
- EFLA hf.minorIcelandic consulting engineers conducted environmental assessment for the project evaluating environmental impact of construction and operations.
Scale indicators7 records
Recent moves10 records
Expansion highlights5 records
LAXEY competitors and assessment
Company assessmentBroad incumbents
- Cermaq: Global salmon producer owned by Mitsubishi Corporation, with operations in Norway, Chile, and Canada. Broad incumbent competitor in Atlantic salmon supply for the same international markets LAXEY targets.
- SalMar: One of the world's largest salmon producers, primarily sea-based in Norway, with growing land-based exposure through its Ocean Farm 1 offshore and SalMar Aker Ocean ventures. Broad incumbent with similar end markets.
- Bakkafrost: Faroese salmon producer with vertically integrated operations including hatchery, feed, farming, and processing. Broad incumbent with strong premium positioning and established European and North American distribution.
- Mowi: World's largest Atlantic salmon producer, primarily sea-based with global operations. Broad incumbent competitor whose scale and established distribution channels represent the incumbent benchmark LAXEY must compete against for European and North American market share.
Direct peers
- Salmon Evolution: Norwegian land-based salmon farmer operating a hybrid flow-through system at Indre Harøy. Closely comparable to LAXEY's hybrid flow-through model, targeting similar premium markets with a multi-phase build-out to ~31,500 tonnes HOG capacity.
- Atlantic Sapphire: Land-based Atlantic salmon farming pioneer with facilities in Denmark and the U.S. (Miami). Direct competitor to LAXEY in the land-based salmon farming category, focused on producing premium, antibiotic-free salmon using RAS technology for similar North American and European markets.
- AquaBounty Technologies: Land-based aquaculture company producing genetically engineered Atlantic salmon in RAS facilities. Direct peer in land-based salmon production, though differentiated by its GMO technology platform.
- Andfjord Salmon: Norwegian land-based salmon farmer using flow-through technology with seawater from a 70-meter-deep fjord. Comparable land-based Atlantic salmon production model targeting European and Asian premium markets.
- Nordic Aquafarms: Land-based salmon farming company with projects in Norway and the U.S. (Maine). Direct peer in land-based Atlantic salmon production using RAS technology for the North American and European markets.
- Pure Salmon: Global land-based Atlantic salmon farming company developing RAS facilities across multiple geographies. Direct competitor in the premium land-based salmon category targeting similar sustainability-driven consumer and retail demand.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
LAXEY social profiles
Digital presenceLAXEY financial estimates
Financial estimateRevenue estimate
Valuation estimate
LAXEY leadership team
Management profileNumber of profiles
Profiles10 records
LAXEY funding detail
Funding detailFunding overview
Funding rounds9 records
Investors16 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LAXEY M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LAXEY
What does LAXEY do?
LAXEY operates a vertically integrated land-based Atlantic salmon farming operation in Vestmannaeyjar, Iceland, using a hybrid flow-through system with approximately 70% water reuse and a Recirculating Aquaculture System (RAS) smolt station. The company produces premium fresh Atlantic salmon (HOG) for export to European and North American markets and sells high-quality post-smolt to other aquaculture companies as part of a dual-revenue model. Operations are powered entirely by renewable hydro-electric energy via a Power Purchase Agreement with Landsvirkjun.
Is LAXEY a public or private company?
LAXEY is a private company. It is classified as venture growth investor backed and is currently operating.
When was LAXEY founded?
LAXEY was founded in 2019. It employs 11 to 50 people.
Where is LAXEY based?
LAXEY is headquartered in Vestmannaeyjar, Iceland, in the Europe region.
How does LAXEY make money?
Two revenue lines are on record. Salmon Production and Sales are the primary driver. The others are post-Smolt Sales.
Who are LAXEY's main competitors?
Broad incumbents on record are Cermaq, SalMar, Bakkafrost and Mowi. Direct peers are Salmon Evolution, Atlantic Sapphire, AquaBounty Technologies, Andfjord Salmon, Nordic Aquafarms and Pure Salmon.
Does LAXEY have an API?
No public API is recorded for LAXEY.
What industry is LAXEY in?
LAXEY's product category is Land-based Aquaculture. Its primary akta.pro industry code is AFANADAL, Aquaculture Harvest, Processing & Packing (Farmed Finfish/Shellfish; On-Farm Plants), with a secondary code of AFAEAAAM, Aquaculture Farm Services & Operations Support (net cleaning, diving, grading, harvesting). Its NAICS code is 112511 and its SIC code is 200.