Inquiries & investments


General inquiries



Our aim is to establish a fish farm on land in the Westman Islands for 10,000 tonnes a year of atlantic salmon.

Aquaculture has for a long time been the fastest growing food industry worldwide. Global population growth and improved quality of life have meant that demand for salmon has been growing faster than supply. 

Atlantic salmon is an ideal fish to farm. It produces high quality protein and is a popular food in many parts of the world.  Our salmon farm on Heimaey will produce salmon of the highest quality with clean, environmentally friendly energy in clean seawater under favorable conditions. The sea temperature in the Westman Islands is the highest in the waters around Iceland.  Waste will be removed from the effluent and will be utilized as much as possible. Juveniles are vaccinated but no drugs will be used in the salmon farming. This will create natural, high-quality food in a sustainable way.

It is our ambition to work in harmony with society and nature and build a great workplace with the best staff available.  The site for the farming facilities is located on the northeast side of Heimaey, the largest of the Westman Islands, in an area that has been used as a mine in recent years.  

ILFS founders & employees

Lárus Ásgeirsson
Acting chairman of the board

Larus has held senior positions in various international companies in finance, food technology, seafood production and international trade. He has run vertically integrated international companies and business units engaged animal husbandry farming of poultry, shrimp and white fish where the products were brought from farm to fork under own brand.

Daði Pálsson

Daði has decades of experience in managing various seafood businesses, technical support and construction companies in Vestmanneyjar, latest is the Leo Seafood value added processing company. Daði is one of the founders and visionaries of the project and has worked intensively for more than four years on the project. Daði is also member of the OS family

Hallgrímur Steinsson Director of Tecnical Execution

With his strong technical background, B. Sc. Degree in Biotechnology and Aquaculture studies, Hallgrímur has emerged himself for four years to develop the
ILFS aquaculture project. He has been in forefront in finding the best technology to secure the health and wellbeing of the salmon to deliver optimal conditions for growth and cost efficiency

Þórarinn Ólafsson
Director of aquaculture

Kristín Hartmannsdóttir
Project manager

Halldór Ingi Guðnason
Tecnical manager

Bragi Magnússon
Construction manager

Hrafn Sævaldsson
Director of Finance and Administration

Partners and associates

Review group for the design of a land based salmon farm with a flow through system

A group of experts has been formed to select the technical implementations that will be used in the station.  Many issues need to be resolved in order for the daily operation of the station to run as smoothly as possible in the long term.  It is important that the operations are set up with everything that has proven best in aquaculture, maximizing fish health and quality of production.  This group is composed of experts at the Marine Research Institute and from Hólar University.

EFLA – Engineering firm

Efla has assisted in the implementation of the project since its inception.  The company is one of the largest engineering firms in Iceland and assisted in choosing a site for the farm, has together with its expert consultants made the first basic design for the project and is currently working on an environmental assessment for the developer.  Their professionalism well supports that all plans and decisions for the development of the project are good and realistic.