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Business

Business

New microbrewery Biskupskelda release their first ale

In February, a new Faroese brewery was introduced to the world, and earlier this month, the company’s first beer became available. Biskupskelda (Faroese ...
By Sverri Egholm / Portal.foMarch 31, 20210
Aquaculture & Fisheries

Bakkafrost CEO Regin Jacobsen awarded ‘edie’ prize “Business Leader of the Year”

Great Britain’s foremost sustainability-themed award show, the ‘edie’ Sustainability Leaders Awards, saw Bakkafrost CEO Regin Jacobsen receive the “Business Leader of the Year” ...
By Local.foFebruary 23, 20210
Business

Vivino raises 155 million USD in fresh capital from investors

Vivino, the world’s most downloaded mobile wine app and largest online wine marketplace — headed by founder and CEO Heini Zachariassen from Hoyvík, ...
By Alda Nielsdóttir / Portal.foFebruary 16, 20210
Business

Bakkafrost signs contract with MEST Shipyard to build fully electric workboat

Salmon company Bakkafrost and MEST Shipyard have signed a contract on the construction of a fully electric workboat for the Glyvrar-headquartered fish farming ...
By Local.foFebruary 5, 20210
Business

Bergfrost: Giant cold store kept ultra safe in a tunnel complex

With an environmentally friendly power generation enabling it to consume 20 percent less energy compared to its competition, Bergfrost is one of the ...
By Local.foJanuary 29, 20210
Business

Eleven Faroese Businesses Unite to Address Sustainability

Eleven businesses in the Faroe Islands have signed an agreement to work together on a three-year corporate sustainability initiative: Burðardygt Vinnulív (meaning in ...
By Local.foJanuary 26, 20210
Business

Biogas plant commences production of green energy out of bio-organic waste from Bakkafrost hatcheries

In December, Bakkafrost-owned biogas plant Förka’s specially equipped truck arrived at the salmon major’s hatchery at Strond to pick up a first batch ...
By Local.foJanuary 2, 20210
Business

Faroese Telecom delivers 220km fiber optic submarine cable to Total’s North Sea operations

Shefa, the subsidiary company of Føroya Tele (Faroese Telecom), has completed the installation of a new submarine cable for fiber optic telecommunications between ...
By Local.foDecember 13, 20200
Aquaculture & Fisheries

Fishermen’s Union ‘Pleased’ to See End of Rights Auctions

Unlike for other workers and officers in the Faroe Islands, there is no government-mandated health insurance for fishermen, according to Jan Højgaard, chairman ...
By Local.foDecember 10, 20200
Aquaculture & Fisheries

Bakkafrost signs contract with Norway’s Nofitech to expand Glyvradal smolt hatchery

As part of the its long-term investment plan, Faroese fish farming giant Bakkafrost has signed an agreement with Norwegian recirculating aquaculture system (RAS) ...
By Local.foDecember 8, 20200

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RSS Faroe Business Report

  • Rock Solid Cold Storage
    Bergfrost managing director Símin Pauli Sivertsen (Maria Olsen Photo) With an environmentally friendly power generation enabling it to consume 20 percent less energy compared to its competition, Bergfrost is one of the ecologically soundest, safest and largest cold stores in the Nordic Seas region.   [Bui Tyril] Fuglafjørður-based cold storage facility Bergfrost is not [...] The […]
  • Fishermen’s Union ‘Pleased’ to See End of Rights Auctions
    FF Chairman Jan Højgaard (Maria Olsen Photo) The Faroe Fishermen’s Union (FF) says it’s ‘fairly satisfied’ with the Faroe Islands’ revised fisheries reform; but the introduction of a compulsory health insurance for fishermen is ‘long overdue’ according to chairman Jan Højgaard. [Bui Tyril] Unlike for other workers and officers in the Faroe Islands, [...] The […]
  • Logistics Provider of Choice
    ASB managing director Eli Lassen (Maria Olsen Photo). Runavík’s Atlantic Supply Base has taken care of logistics and storage for offshore oil and gas exploration activities in the Faroe Islands for years; the company also manages stock for foreign vessels fishing in the Northeast Atlantic. [Bui Tyril] “Never say you can deliver unless [...] The […]
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