The year 2024 was marked with significant changes as we fully separated from our previous owner, established a new company, developed all the necessary operational processes, and a new way of functioning.

We have now also completed our second sustainability report, which you can read at the link below. In the new report, we put into concrete terms the sustainability actions we have taken and their impact.

Our impact on the local economy

One of the main things in the 2024 ESG report is the calculations of the regional economic impact of our operations. Together with an external expert, we examined the impact of our raw material procurements and our indirect procurements on local employment, wage tax impact, and corporate tax impact.

Being the only fish feed manufacturer in Finland, our factory and operations have a significant positive economic impact locally, in addition to our broader role in food security.

Approximately 60% of Fennoaqua’s total procurement budget is directed towards Finnish goods and service suppliers, generating annually in our upstream operations, 62 person-years of employment (twice as much as our employment within the company), over €230,000 in corporate taxes, and over €290,000 in wage taxes.

If all our raw materials could be procured from Finland, our process would generate an annual increase of 37% in employment, 60% in corporate taxes, and 90% in wage taxes in our upstream operations.

New: carbon footprint calculation and partnership stories

In 2024, we calculated the carbon footprint of our operations for the first time. Our factory is carbon-neutral, and our carbon footprint figures are relatively low for the aquafeed industry. Yet, our goal to reduce the footprint further remains.

The report also introduces two of our partners, fish farmer Kalankasvatus Vääräniemi Oy, and fish food producer Kalavapriikki Oy. Collaborative partnerships are a valuable way for us to nurture innovation.

What can we – and you – look forward to in 2025?

Our objective is always to increase production and to fill our production capacity, all while keeping sustainability and the well-being of fish at the core of our business. Below are just a few of our steps towards our goals:

• We certify our production to the Aquaculture Stewardship standard. This standard covers a number of criteria for environmental sustainability and social responsibility. A third independent party assesses compliance with the standard.
• Following the comprehensive internal HR development plan we created in 2024, we will prepare a well-being at work programme to support our employees further.
• We aim to increase the volume of refined food industry by-products in our feeds and introduce new sustainable protein ingredients into fish diets. We are already part of a project that brings a trial batch of partly insect-fed rainbow trout to the Finnish markets in the spring of 2025.
• We develop our feeds to help the fish cope with the temperature extremes and to promote fish welfare under varying conditions. An example is the end-of-season feed that strengthens fish in winter conditions, which we tested in 2024 with selected customers.

Read more about our goals, actions, and achievements from our ESG report.