On Friday 27 September, Faroese salmon farmer was awarded Business Initiative of the year, for its investment into the country’s first biogas plant – FÖRKA P/F.
The judges, appointed by the Faroese Employers’ Association, chose FÖRKA for the award, in recognition of the strong positive environmental, social and economic impact the initiative will have in the Faroe Islands.
The new plant, is Bakkafrost’s biggest investment into impactful circular solutions to date; it will use waste products from its operations and other fish and dairy farmers to produce renewable energy and liquid fertilizer (which aims to minimise the negative impact from farming on the ocean environment).
When in operation, the plant will have the capacity to convert up to 90-100,000 tonnes annually of all waste from farms, providing enough renewable heat for 10% and electricity for 2% of homes in the Faroe Islands (with the current input predicted). This is projected to save 11,000 tonnes of CO2 emissions, based on the equivalent fossil fuel replacement, annually.
The judges recognised Bakkafrost’s efforts to apply innovative and sustainable solutions to address the growing global waste problem facing the growing population.
Regin Jacobsen, Bakkafrost CEO said: “We are really delighted to have been given this award. In Faroese the word FÖRKA means ‘to move’ or ‘to change’, and this is my vision for Bakkafrost – to continue to adapt our organisation to the changing times, for a sustainable future. This was one of our commitments under our Healthy Living sustainability plan.”
The panel of judges congratulated Bakkafrost for a business initiative that will move the country a step in the right direction.
The biogas plant is due to commence operations in early 2020.