Cermaq

What Cermaq does

Cermaq Group AS is a Norwegian-headquartered international salmon farming company and a fully owned subsidiary of Mitsubishi Corporation, following the 2014 acquisition of the former Cermaq ASA. The company operates as a vertically integrated aquaculture platform across three regional entities — Cermaq Norway, Cermaq Chile, and Cermaq Canada — producing Atlantic salmon, Coho salmon, and trout, with 3,000+ employees, 130 aquaculture licenses and 15 hatcheries in Chile, and sales offices in Vancouver and Miami serving global markets.

The company's core offering centers on sustainably farmed, ASC-certified salmon products sold B2B to major retailers, foodservice operators, processors, and distributors worldwide. Cermaq differentiates operationally through proprietary aquaculture technology, most notably the iFarm AI-based individual salmon monitoring system (developed with BioSort, using computer vision and machine learning for individual fish health records, lice and wound detection, and autonomous sorting), closed cage systems (SCCS/Certus) that eliminate sea lice exposure, the world's first combined salmon-kelp sea site with Folla Alger and SINTEF Ocean, and a USD 32.5M RAS facility partnership with Akva Group in Chile. Research and innovation is concentrated at the Arctic Salmon Research Center in Finnmark and through initiatives like the Pincoy Project for SRS disease management in Chile.

Cermaq generates revenue through one-time sale of farmed salmon and trout into global supply chains, with no public product pricing disclosed and pricing negotiated directly with enterprise customers. The GTM motion is enterprise field sales and partnership-led rather than price-led, supported by quarterly sustainability reporting (ranked #1 globally by Seafood Intelligence multiple years), ASC certification across all three farming regions, and a 35% GHG reduction target under the Science-Based Targets initiative. The business model is privately held through Mitsubishi Corporation, with Cermaq reporting through its parent rather than publishing standalone annual reports under an exemption from the Norwegian Tax Administration.

Name

Cermaq

Legal name

Cermaq Group AS

Website

https://cermaq.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Cermaq is a Norway-headquartered, Mitsubishi Corporation-owned salmon farming company producing Atlantic salmon, Coho, and trout across operations in Norway, Chile, and Canada for B2B customers including global retailers, foodservice operators, and processors.

Ownership category

akta.pro rank

Product category

Salmon Aquaculture

NAICS

Seafood Product Preparation and Packaging (31171), Seafood Product Preparation and Packaging (311710), Seafood Product Preparation and Packaging (3117)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092)

akta.pro primary industry

Refrigerated Meat & Seafood (Processed/Packaged) (CRADACAK)

akta.pro secondary industries

Canned Meat, Poultry & Seafood Manufacturing (AFAKACAD), Seafood & Aquaculture Certification Services (MSC/ASC/BAP) (AFALAMAL)

Keywords

• Atlantic salmon farming
• Salmon aquaculture
• Sustainable seafood production
• Aquaculture technology
• Fish farming operations

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Salmon Production and Sales: Cermaq grows and sells Atlantic salmon, Coho salmon, and trout to global customers. Salmon is shipped across the globe to retail, foodservice, and processing customers. The company emphasizes its low carbon footprint compared to other farmed animal proteins.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Cermaq is a global salmon farming company that produces Atlantic salmon, Coho salmon, and trout in Norway, Chile, and Canada. The company supplies sustainably farmed salmon to international retailers, foodservice operators, and seafood processors, leveraging ASC-certified operations and proprietary aquaculture technologies such as the iFarm AI-based individual fish monitoring system and closed cage containment systems.

Product overview

Cermaq is a world-leading salmon farming company operating as a unified platform across three regional operations (Cermaq Norway, Cermaq Chile, Cermaq Canada) producing Atlantic salmon, Coho salmon, and trout. The company's core product offering centers on premium salmon products shipped globally, supported by advanced aquaculture technology including iFarm (AI-based individual fish monitoring using computer vision) and Closed Cage Systems (SCCS/Certus) for enhanced fish welfare and environmental protection. Research initiatives like the Arctic Salmon Research Center and the Pincoy Project provide specialized capabilities for feed optimization and disease management. Cermaq Chile dominated three of four evaluated categories in Salmofood's 2025 Best Site awards for Atlantic salmon production performance.

Differentiator

Problem solved

Functional benefit

Products and services

• Sustainably Farmed Atlantic Salmon

Quantifiable outcome

• Survival rates of 91-96% across operating regions (Norway 95.1%, Canada 90.4%, Chile 96.3%)
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Folla AlgercoreStrategic or Co-development Partner · 21 February 2023World's first combined salmon and kelp sea site in Steigen, Norway. Cermaq handles salmon farming while Folla Alger cultivates kelp inside the same farm. Kelp absorbs nutrients from salmon net pens, achieving up to 50% better growth, while providing potential feed ingredient and carbon sequestration. SINTEF Ocean produces kelp delivery for the project.
• BioSortcoreStrategic or Co-development PartnerFive-year collaboration developing iFarm technology - AI-based individual salmon monitoring system using facial recognition and machine learning. BioSort provides technology while Cermaq provides real-world farming environment for testing. iFarm enables individual fish health records, automated sorting, and early disease/lice detection.
• SINTEF OceancoreStrategic or Co-development PartnerResponsible for research and kelp delivery in combined salmon-kelp farming project. SINTEF Ocean is leading the scientific research component of the world's first integrated salmon and kelp sea site, examining mutual benefits and environmental impacts.
• NTNU (Norwegian University of Science and Technology)minorStrategic or Co-development PartnerResearch partner in kelp project, collaborating on studying benefits of combined salmon and kelp farming, carbon sequestration, and environmental impacts.
• Nord UniversityminorStrategic or Co-development PartnerResearch partner in kelp cultivation project, participating in studies on combined salmon and seaweed farming benefits.
• Global Salmon Initiative (GSI)coreStrategic or Co-development PartnerPre-competitive industry collaboration of 14 companies representing approximately 50% of global salmon production. Cermaq is founding member. GSI focuses on shared best practices, industry sustainability reports, and collaborative research. Contributed to 50% reduction in antibiotic use and 130% increase in non-medicinal sea lice treatments across sector.
• SeaBOS (Seafood Businesses for Ocean Stewardship)coreStrategic or Co-development PartnerUnique collaboration between 10 largest seafood companies and leading scientists. Addresses key challenges including overfishing, social conditions in supply chain, climate resilience, and government regulation development. In 2021, SeaBOS companies confirmed no IUU fishing or forced-labour activities in own operations.
• UN Global Compact / Ocean Stewardship CoalitioncoreStrategic or Co-development PartnerCermaq participates in developing the Ocean platform for cross-sector collaboration on marine spatial planning and sustainable ocean resource use. Works across ocean industries including energy, seabed mining, and shipping.
• EATcoreStrategic or Co-development PartnerPartner in FReSH (Food Reform for Sustainability and Health) initiative led by EAT and WBCSD. Aims to transform global food systems through healthy, sustainable diets produced responsibly. Cermaq participates in developing guidelines for healthy diets and food production adjustment.
• WBCSD (World Business Council for Sustainable Development)coreStrategic or Co-development PartnerCermaq participates in FReSH initiative alongside 25 companies including Danone and Unilever. Focuses on catalyzing transformational change in global food systems, developing guidelines on healthy sustainable diets, and creating roadmaps for responsible food production.
• Pincoy Project ConsortiumcoreStrategic or Co-development PartnerIndustry initiative to fight SRS (Salmonid Rickettsial Septicemia) in Chile through holistic approach including genetic improvements, smolt quality, functional feeding, vaccination, and monitoring. Partners include Skretting, Aquagen, Blue Genomics, Pharmaq, Centrovet, Blumar, Ventisqueros, and Cermaq. Aims for 50% reduction in antibiotic use.
• Akva GroupcoreTechnology or IntegrationSelected to build USD 32.5 million RAS (Recirculating Aquaculture System) facility in Chile. Akva Group is providing the technology and construction for the land-based recirculating aquaculture system.
• BC HydrominorStrategic or Co-development PartnerUtilities partnership in Vancouver Island, Canada exploring power grid expansion to support closed cage farming operations and benefit both Cermaq and remote communities with lacking power infrastructure.
• Local Composting Companies (Chile)minorOthersLocal Chilean composting companies collect organic waste from salmon farms and convert sludge into natural compost for agricultural use, monitored by SAG (Agricultural and Livestock Service).
• DB PartnerminorOthersNorwegian seafood staffing agency providing workforce solutions for aquaculture and seafood sectors since 2007. Provides reliable, compliant workforce and strategic partnerships with leading companies including Cermaq.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Mowi ASA: The world's largest Atlantic salmon farmer, producing farmed salmon across Norway, Scotland, Ireland, Canada, Chile, and the Faroe Islands. Mowi is the most direct comparable to Cermaq given its global multi-region salmon farming platform and similar product offering.
• SalMar ASA: One of the world's largest producers of farmed Atlantic salmon, headquartered in Norway with significant operations in Norway, Scotland, Iceland, and Tasmania. SalMar is a direct competitor in core Norwegian salmon farming markets and competes globally for retailer and foodservice customers.
• Lerøy Seafood Group: Major Norwegian seafood group with significant salmon farming operations in Norway and Scotland, along with wild catch, processing, and distribution. Lerøy is a direct peer in salmon farming with comparable European customer base and similar value chain integration.
• Bakkafrost: Faroese-based salmon farming company with operations in the Faroe Islands, Scotland, and increasingly North America. Bakkafrost is a direct comparable in premium salmon farming with similar sustainability focus and vertical integration strategy.
• Grieg Seafood ASA: Norwegian salmon farming company with operations in Norway (Rogaland, Finnmark) and British Columbia, Canada. Cermaq acquired Grieg's Finnmark, BC, and Newfoundland operations in 2025; Grieg continues as a direct competitor in remaining Norwegian and international markets.
• Australis Seafoods: Chilean salmon farming company focused on Atlantic and Coho salmon production. Australis is a direct competitor in Cermaq's Chilean operations and the broader South American salmon market, with similar product mix and customer segments.
• Multiexport Foods: Chilean salmon producer and exporter with operations across Atlantic and Pacific salmon species. Multiexport is a direct peer in the Chilean salmon farming market and competes for global retail and foodservice customers.
• Blumar: Chilean seafood company with significant salmon farming operations alongside wild catch and processing. Blumar is a participant in the Pincoy Project alongside Cermaq and competes directly in Chilean salmon farming.

Others

• AKVA Group: Leading supplier of aquaculture technology and equipment, including the RAS (Recirculating Aquaculture System) facility being built for Cermaq in Chile. AKVA is an adjacent technology provider rather than direct competitor but serves the same salmon farming customers.
• BioSort: Norwegian technology company developing AI-based fish monitoring and sorting systems in a five-year strategic partnership with Cermaq for the iFarm platform. BioSort is an enabling technology partner rather than a competitor, but its technology is core to Cermaq's competitive positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/Cermaq
• YouTubeyoutube.com/channel/UC_JpejbQzruqZ8l_PveScLQ
• Facebookfacebook.com/cermaqgroup
• LinkedInlinkedin.com/company/cermaq-asa

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cermaq