Sustainability report 2022 - MMC First Process

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SHAPING THE FUTURE OF FISH HANDLING

ITS ALL ABOUT FISH WELFARE

Sustainability report 2020

Sustainability report 2022

ITS ALL ABOUT FISH WELFARE THE VIEW OF AN IOC AMBASSADOR FOR FUTURE GENERATIONS

ONE SMALL STEP FOR MAN; ONE GIANT LEAP FOR MANKIND ON A JOINT MISSION ENERGY EFFICIENCY SYSTEMS

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ENABLING SUSTAINABLE FISH HANDLING

Contents Content

Our heritage 03

Introduction and facts Pages

Introduction by CEO, Petter Leon Fauske 04 MMC First Process at a glance 08 Unique competence and track record on the back of 35 years of experience 10

Our heritage 3

Our legacy 11

Introduction by CEO Petter Leon Fauske 4 About MMC First Process 6 MMC First Process timeline 8 Our legacy 9

The global challenge 12 A fish on land 14

Problems to be solved Pages

It´s all about fish welfare 16

The Global Challenge 10

On a joint mission, by CMO Per Helge Devold 18

Interview with an IOC Sustainability Ambassador Martin Helseth 12 It’s all about fish welfare 14

An industry leading sustainability road map 20 Fish welfare and food production 22 Competence and collaboration 24 Sustainable value chain 26

How do we take part Pages

Business not as usual 16

The Salmon Adventurer, Johan E. Andreassen, Atlantic Sapphire 28 Health, safety and the environment (HSE) 30 Investing heavily in recruitment, by CHRO Merete Alnes Mostue 32

Introduction to sustainability by CMO Per Helge Devold 18 Fish Welfare and Food Production 20 Design thinking 21 Technology and engineering 21 Deployment and continuous service 21 Competence and collaboration 22 Marel – Transforming the pelagic industry 24 Sustainable value chain 26

Beyond Pages

Our green house gas emissions measured 34 Global sustainability frameworks 35 Energy Efficiency Systems 36 Social responsibility 38 Global Aquaculture Tech Hub 40 Uncertainty gives opportunities by Chairman of the board, Pål Brynsrud 42

Two generations- one goal by Asbjørn & Bjørn Inge Tråseth 28

Our Green house gas emissions measured 30

Global Sustainability frameworks 31 Global Compact 31 EU Taxonomy 31

Salmon Evolution – Moving the sea onto land 32 For future generations by Chair of the board, Pål Brynsrud 34

The purpose of our sustainability report is to be transparent about our current sustainability performance, to communicate our future goals and to share the story on how we aim to achieve those goals.

Our heritage

The ocean, and the wild nature on the west coast of Norway has shaped a culture for pioneering and exploring since the pre-Viking age.

With the North Sea as highway to the world we understood that quality is a matter of life or death at sea. Our forefathers have passed on the knowledge through generations, creating a tradition for innovation.

We been raised to only harvest what we need and utilize everything that we harvest in a sustainable way. And this is a heritage MMC First Process will pass on to the generations to come.

The Vik brothers in Sykkylven, pioneers in aquaculture in the 1950´s.
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Shaping the future of fish handling

One small step for man, one giant leap for mankind

Petter Leon Fauske

CEO

Petter Leon Fauske CEO

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It is a great pleasure to welcome you to MMC First Process’ first complete sustainability report. This report describes how we aim to continue our growth with the Sustainable Development Goals as our compass to strengthening the company’s value proposition as an enabler of the sustainable production and delivery of healthy food to more people globally.

Macroeconomic drivers are fuelling an increased demand for seafood, ensuring strong long-term growth in the aquaculture markets.

The world’s population, currently around 8 billion, is expected to reach almost 10 billion by 2050. Increasing equality means that 8 billion of this future population are expected to be classified as mainly middle class – a number that matches the total population in the world at present.

In many ways we are the lucky ones. All of us in the aquaculture industry can win the jackpot. We can work together to solve serious global challenges and we can go to work every day and do what my good friend Håkon Andre Berg describes as “making sense”.

Growing up on the western coast of Norway the sea has always been a central part of my life, as a regular source of food on my family’s dinner table, as the foundation of a local industry providing employment to local men and women, and as the basis of precious childhood memories of fishing trips with family and friends.

In the mid-1900s, Norway was one of the poorest countries in Europe and we all know what the oil and gas adventure has meant for Norway.

My story is familiar to anyone growing up in our part of western Norway. This has ingrained a local culture of respect for the ocean and what it has to offer, leading to a tradition of sustainable resour ce management by harvesting only what we need and utilizing as much as possible of the resources we have harvested.

This middle class will be hungry for protein.

The protein consumption per capita is trending upwards and global protein demand is expected to double by 2050 - to more than 400 million tons. It is widely considered that seafood is by far the most sustainable and efficient source of animal protein.

In Aquaculture we now have a similar window of opportunity. Norway’s present government considers that we need to create 300,000 new jobs by 2030 and double our exports to NOK 750 billion in order to maintain our current level of welfare.

This ethos has been fundamental to MMC First Process from its inception and has been instru mental in developing our company to a global leader in sustainable fish handling solutions. As the climate crisis has been elevated to the most important challenge of our lifetime, we are prepared to take on more responsibility and build on our legacy to be a complete gamechanger in addressing the key sustainability challenges and opportunities facing the fishing industry globally.

Increased consumption of seafood supports several of the USD goals: Zero hunger, Responsible consumption and production, Climate action and Life below water

To guide this mission, we have embraced the Sustainable Development Goals as our common agenda to sustainable development. We have used the SDGs to identify the most material issues for our stakeholders and where MMC First Process can have a significant impact we have made these integral to our business strategy. Consequently, our sustainability efforts are focused around three strategic pillars:

The wild catch industries have levelled off, meaning there are fantastic opportunities, as well as matching responsibilities, for the aquaculture industry.

1. Fish welfare and sustainable food production 2. Competency and Society 3. Sustainable value chain

This clearly presents a serious challenge. If we study the Menon report that analyses the ripple effects of the aquaculture industry (“Ringvirkningsanalyse av Havbruksnæringen”) and the “Norway Tomorrow” report from McKinsey, we can conclude that aquaculture has the potential to become Norway’s most important industry in the future. It may become equally important for the world as a whole. However, this will only be possible with good leadership, wise decisions and ability to act.

The purpose of our sustainability report is to be transparent about our current sustainability per formance, to communicate our future goals and to share the story on how we aim to achieve those goals.

I am convinced that we can take a giant leap forward in sustainability, so that we can hand over the planet to later generations in better shape than it is today.

Throughout history we have learnt that crises trigger innovation and evolution. A glance at recent years’ crises, pandemics and war shows us that never in the modern history of mankind have we experienced so many simultaneous challenges.

I am particularly proud to introduce you to our partnership with the Olympic athlete and fierce de fender of the oceans, Martin Helseth, who you will meet on pp 12 of the report.

I truly believe that our company and the industry can change the world.

There are challenging times ahead for all of us, but there can be no excuses. MMC First Process can continue to enable our partners and customers to achieve a sustainable bio-mass industry by carefully managing our common resources and accessing new markets. I am confident that MMC First Process is part of the solution. Our ambition is to scale our solutions and share our knowledge to provide more sustainable food based on marine proteins on dinner tables globally.

Whether our aim is to fight hunger or combat climate change, technology will be part of the solution. New technology will be needed in the coming decades and there will be a constant need for innovation.

If you have comments or questions about any aspect in this report, please do not hesitate to get in touch to engage with me or one of my committed colleagues.

The world needs change, and the world needs more sustainable and healthy food. We are on a mission together, where collaboration and partnerships both horizontally and vertically in the value chain are the keys to success. As individual companies or entities, we are all driven by the need to be profitable and achieve our goals, but there is little point in achieving these objectives on our own.

Thank you for reading our report.

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Crises, pandemics and war create changes and we all know that the planet needs changes too.

MMC FIRST PROCESS, our fellow Global Aquaculture Tech Hub (GATH) companies and the entire industry will play a crucial role in future developments worldwide. From the Menon report, we have learned about the enormous value creation that is already happening and what this might mean for Norway and the world in the future.

If we look beyond the horizon, it is quite clear that we can contribute to worldwide change in the future. I truly believe that we can take one great leap for mankind. Sustainable production of healthy food for the people will be our legacy.

But we shall not succeed unless we make progress in fish welfare and several other crucial parameters. We have a complex value chain where many participants play an important role in ensuring that everything functions optimally. The key factors are cooperation and innovation through new technology. We can only succeed in meeting these big challenges if we collaborate within the industry and with our respective governments.

As the CEO of a world leading company in handling of live big fish, my team and I have chosen to take the lead, broaden our perspectives, share our expertise and open the doors for collaboration for the greater good.

Together with our dear customer and partner Sølvtrans, we took the initiative to start GATH a year ago and this September we had our first GATH Conference in Ålesund – the centre of a leading region in the world for seafood in general and aquaculture technology in particular. The GATH conference enabled us to develop the GATH organisation, share anecdotes, experiences and technology and build relationships for future cooperation and growth.

The GATH concept was born during an evening where an agreement to build 19 new well boats was being celebrated. Maybe this symbolizes something unique about this region or Norway; we were already on the move, evolving and hungry for more.

So why did we take such an initiative? For my part it is a complex story., A While working at the interface between the maritime and marine industries, I realized we have a responsibility to set our industry in focus, tell our story and explain where we stand in society and why we are important.

We decided to call it a hub rather than a cluster simply in order differentiate us from the established clusters and allow us to focus on our specific technology.

GATH is a group of world leading companies in our specialised area. Together we can make large and important contributions to our local communities and regions, as well as to Norway and the wider world.

GATH is putting aquaculture firmly on the agenda and we need to collaborate within the hub and with communities, countries and the governments across the world.

There is a constant need for people within MMC FIRST PROCESS and the industry in general. Good colleagues - young or old, male or female, master’s degrees or skilled workers - we need them all and plenty of them. At present, MMC FIRST PROCESS employs 223 people, our colleagues, whom we like to think of as GameChangers.

Last year MMC FIRST PROCESS recruited 50 new staff. So far this year we have taken on 35 new employees and next year we expect our recruitment target to be around 30.

People are our most crucial asset as we seek to achieve our mission. As we strive for growth and innovation, recruitment of good minds is a challenge that we all share. We must draw attention to our industry and win the recruitment game, so that we can attract the brightest and best.

To achieve this, we must create profitable, interesting and exciting workplaces, with a good working environment based on sustainable cultural values and clear diversity strategies

By doing this, we can bring together a body of people who aspire to make a difference and give them the opportunity to help to change the world through sustainable food production.

Together we can develop the right policies and create synergy.

International cooperation can help us to find new solutions and take major steps forward.

The core issues are people, culture, values, competence and willingness to act and cooperate.

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The GATH initiative, which started with the smallest of steps, is an excellent example. One short telephone call was made to competitors and customers, asking if they were willing to work together on developing the aquaculture industry by sharing a focus on technology. They all agreed, without hesitation.

The big steps forward come when we succeed in joint projects and jointly develop new ideas, methods and technology to help eradicate hunger in the world with healthy and sustainable food.

Strong growth in the aquaculture industry is both anticipated and necessary. There is significant potential for growth in per capita salmon consumption. Further growth is also anticipated in other less industrialized species. The continuous trend of increased industrialization in the farming of salmon and new species is and will be driven by technological advancement. The application of specialized technology and services, allied with appropriate ownership arrangements, is developing the industry’s potential and increasing the size of the market.

None of this will be easy and no one suggested that it would be. However, I truly believe that with a strong ethical and moral compass, we can solve serious global challenges by fighting hunger together through technology and innovation.

For me, this is our mission.

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MMC First Process at a glance

MMC First Process has unmatched competence and a wide range of technology within fish handling, processing and cooling.

This pooling of specialist expertise makes us a complete supplier to the seafood industry of advanced and sustainable system solutions for handling, processing and cooling of fish.

MMC First Process has unmatched competence and a wide range of technology within fish handling, processing and cooling.

A complete supplier of sustainable fish hand ling systems in one company.

MMC First Process has unmatched competence and a wide range of technology within fish handling, processing, cooling and energy.

This pooling of specialist expertise makes us a complete supplier to the seafood industry of advanced and sustainable system solutions for handling, processing and cooling of fish.

This pooling of specialist expertise makes us a complete supplier to the seafood industry of advanced and sustainable system solutions for handling, processing and cooling of fish.

A complete supplier of sustainable fish hand ling systems in one company.

A complete supplier of sustainable fish handling systems in one company.

Our vision is to transform the seafood industry by offering complete and sustainable system solutions for handling, processing and cooling of fish to the seafood industry - within wildcatch and aquaculture - worldwide.

Together we want to make our customers the best in the world at managing the sea’s most important food resources efficiently, sustainably and carefully to leverage our common re sources in the best way for future generations. This is our mission.

Our vision is to transform the seafood industry by offering complete and sustainable system solutions for handling, processing and cooling of fish to the seafood industry - within wildcatch and aquaculture - worldwide.

Our vision is to transform the seafood industry by offering complete and sustainable system solutions for handling, processing and cooling of fish to the seafood industry - within wildcatch and aquaculture - worldwide.

Together we want to make our customers the best in the world at managing the sea’s most important food resources efficiently, sustainably and carefully to leverage our common re sources in the best way for future generations. This is our mission

Together we want to make our customers the best in the world at managing the sea’s most important food resources efficiently, sustainably and carefully to leverage our common resources in the best way for future generations. This is our mission.

• Locations in Norway • Agents • Pelagic on shore • Wellboat Employee stats Employees 2018 2019 2020 Women 14 21 28 Men 125 135 145 Total 139 156 173 Growth of business 399 037 Revenue EBITDA 603 514 534 974 -230 35 674 44 124 2018 2019 2020 2018 2019 2020 Presence
7 • Locations in Norway • Agents • Pelagic on shore • Wellboat Employee stats Employees 2018 2019 2020 Women 14 21 28 Men 125 135 145 Total 139 156 173 Growth of business 399 037 Revenue EBITDA 603 514 534 974 -230 35 674 44 124 2018 2019 2020 2018 2019 2020 Presence Employees 2018 2019 2020 2021 Women 14 21 28 37 Men 125 135 145 165 Total 139 156 173 202 Growth of business REVENUE EBITDA IN MNOK IN MNOK Employee stats 2019 2020 2021 2019 2020 2021 604 535 1016 36 44 65 8

A GLOBAL LEADER IN MISSION-CRITICAL FISH HANDLING TECHNOLOGY

• Headquarter on the west coast of Norway

• 35 years experience

• 223 employees

• Market leading position within live fish handling

AQUACULTURE FISH HANDLING

Wellboats

Land based farming

Holding tanks

Fish processing for closed aquaculture systems

Stun and bleed - Fish handling systems

Aquaculture processing

ENERGY EFFICIENCY SYSTEMS

Cooling Energy

CODE OF CONDUCT

Ethical guidelines and the Code of Conduct define how all our employees and partners perform their tasks and relate to us and the world around us. We are proud of the ethical business practices we have established and the values we live by.

Common values provide the company with a strong ethical and moral platform and are crucial for us to be able to attract employees, and as partners for customers to choose us for their projects. It helps to build trust between colleagues and partners. It also helps build pride and strengthen the business and the company.

We have a strong reputation, and we will continue to develop our company’s culture as expressed in all our communication, behavior, and ethical guidelines. With a world-leading position in the market comes a great ethical responsibility, which we take very seriously.

80% of all our customers and partners have signed our code of conduct, all our employees are required to follow our ethical guidelines.

Locations

• Fosnavåg (HQ)

• Ålesund

• Haugesund

WILD CATCH FISH HANDLING

Pelagic fishing vessels White fish vessel Pelagic processing

AFTERMARKET & SERVICE

Spare parts Service 24/7

Upgrade and rebuild

HUMAN RIGHTS

MMC First Process supports internationally recognized human rights, such as the UN Declaration of Human Rights and the standards promoted by the International Labor Organization (ILO). We strive to ensure that all our activities worldwide are conducted in accordance with these basic human rights.

Examples of important human rights related to the business are:

Freedom of speech.

Freedom of association and collective bargaining.

Labour standards, including prevention of forced labour, child labour and discrimination.

TEN PRINCIPLES

Customer care, fish welfare and the environment will always be our top priorities, and the ten principles in the UN Global Compact match perfectly with our own ambitions in MMC First Process.

UN Global Compact`s mission is to generate an international movement for sustainable companies, and encourage companies and organizations to align their strategies and operations with ten universal principles on human rights, labour standards, the environment and the fight against corruption. A further aim is to promote the UN Sustainable Development Goals (SDGs).

Joining the United Nations Global Compact represents a further step forward, as we develop the sustainability strategy.

CORRUPTION

MMC First Process is strongly agains all forms of corruption and works actively to ensure that this does not occur within the company. Corruption is not tolerated and violations will lead to disciplinary action. As a part of its anticorruption efforts, we has implemented a code of conduct for all employees, including management.

This code helps the organization to make the correct decisions day to day. All employees go through an ethical guidelines and code of conduct course.

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Our legacy

Our legacy

Our legacy will be judged on the decisions that we make every day. The profound understanding of fish welfare is critical for our common future.

We have an obligation to provide those who will be managing our common wealth with the resources they require to be best at managing the ocean’s and our common resources in the future.

Our goal is to shape the future for those who come after us by ensuring that our common resources in the oceans are sustainably managed for future generations. This is our commitment for future generations – and this will be our legacy.

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Showing responsibility is not just about capitalist profit. It is about contri buting to building the responsible capital our customers need to manage society’s resources.

The global challenge

The international community is struggling to manage a trio of crises simultaneously: the tail end of a global pandemic; a major war, and accelerating global warming. Each on its own would be enough to guarantee that nothing will ever be quite the same again. The three crises have accelerated the global pace of change and given us a new chronology that our successors will read about in their history books. The challenges are enormous and time is short. Most companies are already changing their business strategies and adapting to ESG, but now industries across the world are having to revise their energy strategies. Two hundred years of industrialisation must now be completely re-aligned in a tenth of that time.

Suddenly, the idea of the planet as a global forum with open borders for citizens and companies can no longer be taken for granted. The world is becoming polarised and is splitting into competing trading groups, so the protection of our natural resources is now more important than ever. Russia’s warmongers are using reduced energy supplies as a weapon against Europe and this is changing the established balance. Many countries face huge energy challenges.

Never before has the world changed so rapidly and there are no grounds for believing that this trend will cease. Locally produced food has become a hot topic on an international scale, so that many more countries want to secure their own food and protein supplies close home than they did just a few years ago. The world’s population is still increasing and hunger is one of the planet’s main challenges. Sustainable, healthy food is a priority and we know that part of the answer lies in the sea. Production of fish gives a much lower CO2 footprint than production of meat.

If we succeed in upping the production of marine protein, we shall not only contribute to reducing hunger, but will also reduce the global environmental burden.

This presents a huge opportunity for the seafood industry, but the opportunity also brings great responsibility. The industry has chosen to reach for the opportunity, well knowing that the key to success will be our ability to work together. We must work together when we can and compete when we must, while creating a responsible industry that accepts its social responsibility by making good, well-judged choices that will make our grandchildren proud.

Carbon footprint of farmed Atlantic salmon vs other proteins

Source: https://ourworldindata.org/food-choice-vs-eating-local

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25 kg
6.5 kg
4.3 kg
3.2 kg
CO2e - Beef
CO2e - Pork
CO2e - Poultry
CO2e - Salmon
Kg CO2 equivalents per kg product (complete supply chain)

There are nearly 8 billion people on the planet today. By 2050 there will be nearly 10 billion. There is no lack of food in the world, but the food is unevenly distributed. Today, 690 million people are uncertain where their next meal is going to come from and 247 million of children are malnourished or suffer from stunting.

One of the key conditions for promoting a sustainable world is ensuring food security and availability for all people. The United Nation sustainability goal number 2: End hunger, achieve food security and improved nutrition and promote sustainable agriculture, is the key to this.

The UN sustainable development goals (SDGs) encompass all factors to be addressed to achieve a sustainable future. Sustainable development was defined in 1987 by the Brundtland Commission and it still holds true today: ”development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. Typically, the SDG could be divided into 3 areas with some of overlay:

• Environmental – the impact of our production and consumption on the world’s climate and ecosystems. Social – the impact we make on people and cultures around us. Governance – promoting transparency and accountability for governments and companies.

MMC First Process fully supports and will do what it can to improve sustainability for our globe. There are some development goals where MMC First Process can make a significant contribution. UN SDG 2: End Hunger, which includes improving access to nutritious food and a more secure food availability.

Why is focus on improving food availability important?

Access to a healthy diet and food security promotes well-being, reduces conflict and is the bedrock upon which all further prosperity for people relies. Not worrying about the next meal, decent education and good health are fundamental requirements to fulfilling a good life and creating a sustainable planet.

In the past decade, there has been significant progress that has seen hunger and malnutrition reduced. However, it is critical that this effort continues to include all people. Using the industrial world´s traditional methods of food production, food distribution and dietary habits of the industrialised worlds is simply not possible as it would consume far too many resources. Therefore, we need to think about how we can improve resource management and production in both the developed and developing world. Eliminating hunger also means thinking differently about how we go about sourcing food and how technology and know-how can be used across the globe.

Making high quality food in physical proximity to where it is consumed is both environmentally friendly and improves certainty and predictability in the food supply.

Water is the source of life and the ocean has been providing food for people since the beginning of time. Historically, the oceans have represented an unlimited supply of food. As industrial wild catch has become ever more efficient, we have all realised that the ocean represents another resource that we must manage carefully in order to ensure a sustainable supply of food. Maintaining a careful balance is also necessary, if we are to ensure the bio-diversity upon which all things rely. By combining this knowledge with modern technology and innovation we are now able to improve and create new opportunities for the fish industry. We can improve the treatment of fish in the wild-catch industry by working towards a position where all fish taken out of water can be processed for food. The fish-farming industry can also be improved so that all the fish that is farmed can be processed as food. Finally, we can help produce bio-mass, away from natural element, on land. In turn, this opens up many opportunities for bringing steady and reliable food supply to new places in the world, so as to help people whilst reducing pressuring of the ecosystem in the oceans.

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The view of an IOC Sustainability Ambassador

A fish on land

Age: 27

International track record:

9th Tokyo Olympics 2021

Silver WorldCup III 2021

Bronze WorldCup I 2018

Bronze WorldCup II 2017

Silver U23 World Championships 2016

Silver U23 World Championships 2015

As an accomplished Olympic rower, Martin has already taken part in several international rowing competitions. To achieve this, he has to be organised and focused as he combines his contributions as an IOC Sustainability Ambassador with progressing in his studies and diligently following his training regime.

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Martin Helseth
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Olympic rower

In the year of the coronavirus, Martin Helseth, IOC Sustainability Ambassador, decided to relieve his boredom with a daily dive. With eve ry dive he collected plastic from the ocean.

For nearly two years, elite athlete and rower Martin Helseth (28) has been a sustainability ambassador for MMC First Process.

In summer 2020, Martin was supposed to compete in the Olympic Games in Tokyo. The buildup for the compe tition was suddenly put on hold and the team was sent back home from their training camp in Portugal. Martin was sent back home to Aalesund to go into quarantine and did not hold out much hope for the rest of the rowing season. The local rowing club was shut down and there was little activity, so he returned to his favourite hobby of freediving and spearfishing. He started by going out for one dive a day for a couple of months.

It has been said that Martin learned to swim before he could walk and that he was introduced to the sea by his parents, at home in Ålesund, when he was barely two weeks old.

Water, sea and the ocean “It is in the water I find peace and it is also where I compete. Much of my daily life is about the water, the sea and the ocean,” says the Ålesunder, who now lives in Oslo as follows his ambition to reach the very top in rowing.

the same question: Could I recommend this partner, or these products, to juniors in Ålesund Rowing Club?”

Technology development

Martin thinks many people feel they have a strained relationship with the aquaculture industry. Critical questions are asked about how healthy the fish are, how well they are treated and the impact of fish farming installations on the environment.

”To compete globally, we have to travel. However, I have sug gested changes. For example, holding several competitions in one place in a shorter timeframe. I also try to avoid flying, if pos sible, preferring train, car or even my own bicycle”, says Martin.

When not chasing his Olympic dream in his rowing boat, the environmentally-conscious athlete spends his time free-diving and clearing plastic and rubbish out of the sea. He has hauled many tons of this unwelcome garbage out of the ocean.

The prettiest

girl

He has always been fascinated by everything to do with the wet element. Fish and fishing have been major interests for Martin ever since infancy, so it was quite natural for him to choose a water sport.

After witnessing at first hand what goes on beneath the surface of the water, Martin made a rule for himself. From now on he would always bring back more waste than fish from his spearfishing trips. However, after trying this out for a while he found out that it made more sense to focus on collecting waste rather than hunting. He made a deal with the local waste handling company whereby they would take care of all the waste he could collect. He also started a crowdfunding cam paign, where he set up a goal of cleaning 1kg of waste for every 10 Norwegian kroner donated. At the end of the project, he had cleaned almost 7 tonnes from the areas around Aalesund and Oslo.

“Not everyone was quite so keen. At primary school I found out that the prettiest girl in class would have fallen for me if I had not known so much about fish,” says Martin and laughs.

“I take great pleasure in being out in the open air and I am mindful that the level of resources we extract from nature for our own consumption needs to be kept as low as possible – and we must make use of everything we harvest,” says Martin. This basic view of how to treat our common resources is strongly shared by MMC First Process.

“Aquaculture is still a young industry, where new technology and solutions are constantly being adopted. Therefore, I think it is great to be associated with MMC First Process. The company wants to forge ahead, using pioneering technology and new solutions to create a fishing industry that is sustainable in all aspects,” thinks Martin.

Fish welfare

His main activity is rowing and during his years on the national team he has won international medals at World Cup events and in the Under-23 World Champi onships. He follows a strict training regime and works out between 20 and 30 hours per week. He takes no holiday to speak of. The sport enables him to see the world, meet incredible people and pursue his childhood dreams on a daily basis.

The Sustainability Ambassador

He has gained a good insight into MMC First Process’s work on sustainability through visits to Digerneset and Mjølstadneset. Martin has also had long conversations with the firm’s employees, taken part in networking gatherings for the aquaculture industry and kept himself up to date on fish farming and ocean fishing.

Environment and wild life

“I have always been interested in the environment and wildlife and am becoming more and more conscious of how our actions affect our surroundings. Now is the time to make the decisions that will make our children and grandchildren proud of us,” believes Martin.

Role model Olaf Tufte

Martin has found out that he can use his position as an elite athlete to draw attention to the issues he cares about. Since childhood, he has spent much time in and around the sea and he is now very worried about human impact on our seas, waterways and oceans. He has therefore become an IOC Sustainability Ambas sador and an EU Climate Pact Ambassador through an organization called “The Big Plastic Pledge”, which was started by British sailor Hannah Mills. She started the organization after witnessing the bad water quality, and the amount of plastic in the water, during the Rio Olympics in 2016.

In recent years, he has reflected on the influence wielded by sports personalities, artists and other role models. When Martin was ten, he saw Olaf Tufte win his first Olympic gold and he wanted to do the same.

“Olaf has really been a role model for me. Not only as a rower, but also in his values and the way he thinks. It was terrific to sit in the same boat with him during the last years of his career,” says the congenial young sportsman, who now aims to pick up the baton after his idol.

In 2020 Martin entered into a partnership with MMC First Process, to assist the company in its work of pro moting and contributing to a sustainable world. Martin will be advising MMC First Process on its sustainability strategy and will act as our compass, helping us to stay on course as we navigate our way through sustainabi lity and the promotion of our products. Martin grew up in the north-west of Norway and has always loved na ture. MMC First Process and Martin share the common vision of making the most out of nature.

Credible about sustainability

He is very keen to appear credible with his message on the importance of sustainability. It is about the future of our planet.

“My credibility lies in the choices I make, the actions I take, the messages I communicate and the partners I choose to work with. Before I enter into a partnership, I always ask myself

“Why plastic, I ask. Why not something else?” “Plastic is visible, and it clearly does not belong in the sea. It is easy for people to understand. Everyday choices matter as we try and work out how we can secure a sustainable future for young people. Martin buys much of his food from a shop that sells food that is close to its expiry date and food that has errors in the packa ging, or for other reasons cannot be sold in a regular supermarket. He drives an electric moped and voices his opinion in IOC panel discussions.

Fish welfare has become a mantra for MMC First Process in all its internal and external communications. The company wants the fish to thrive throughout their life cycle. Advanced technology must be used to handle the fish gently and keep stress and pain to a minimum.

Great faith in MMC First Process

“I believe what the company says about fish welfare and can see that the technology has been developed to take the best possible care of the fish through a demanding handling process. Naturally, this is also in the best interests of the customer and the consumer.

“I do what I can, both in my everyday life and in any forum where my voice can be heard. The changes that are required should happen as part of people’s everyday lives and we should all make choices that promote sustainability. The same goes for companies – every company must do what it can to be sustainable. MMC First Process is in a great position to do its part: namely to promote and develop technology to make sure we take good care of the fish we produce”.

Terminology and opinions

Martin believes that the words we use play an important part in forming our opinions. He doesn’t really like the industry constantly using the industrial term ‘biomass’ to describe the millions of individual fish that in reality make up the aquaculture population.

MMC First Process has an ambitious goal; that of being “A complete game changer”. It involves paying maximum attention to fish welfare and optimising our clients’ processes to ensure that as much as possible of the fish caught in the ocean or farmed in controlled environments ends up as high-quality food for people. This is a goal that we expect Martin to hold us to and help us to achieve.

Fish have an intrinsic value “Without making too invidious a comparison, we can calculate that Norway’s 5.4 million people weigh 65 kilos on average, so their ‘biomass’ would be 350 million tonnes. The concept of individual welfare would then be completely drowned out. The word biomass also makes it very easy to forget that fish have an intrinsic, individual value”, so Martin advises everyone to read Jonathan Balcombe’s book What a fish knows.

“There are many serious issues with industrial food production, but it is a hugely important part of the sustainable food equation. MMC First Process is using technology, experience and their basic ethos to achieve the highest possible standards. I hope that I can make a contribution to this important journey,” says Martin.

A fish on land

In an article written by Nordic Ocean Watch, Martin was asked how it feels for an Ålesunder, who is at his happiest in and under the water, to be tied down in the capital city with his studies and training regimes. Quick as a flash came the answer:

“Like a fish on land without technology and equipment from MMC First Process.”

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It´s all about fish welfare

MMC First Process builds systems and machinery for handling live fish in all phases of their lives. Through continuous development and research in collaboration with academia and other partners we continue to refine and improve the fish handling process. By excelling at what we do, we enable our customers and partners to increase the amount of finished product and the number of meals they can produce.

Within land based or ocean-based production, MMC First Process can help stabilize and create a predictable and sustainable food supply in areas of the world where it is needed.

Fish is the most farmed vertebrate in the world today. Billions of fish are being farmed for food and the industry is growing. By focusing on improving condition for the fish we accomplish

1. More efficient business and employee satisfaction

2. Improved food standards

3. Improved preservation of wild, natural ecosystems

In addition to improved animal welfare and better preservation of wildlife, the knowledge and experience we have gained by focusing on fish welfare has helped us to hone our processes for the benefit of fish-farming generally and an expanding client base all over the world.

To maintain optimal fish health, reduce stress and fight diseases, it is of the utmost importance to handle the fish gently. As a world leader in live fish handling, we have developed system solutions to handle fish in a sustainable and gentle way. We continuously work to promote good fish health, maintain fish welfare and safeguard the environment when developing our products and solutions for handling and transportation of live fish.

The number one challenge in the wild-catch and fish farming industry is to make sure the fish you handle survive the processing before slaughter. The fish should remain calm and comfortable right up until it is taken out of the water in order to improve quality.

Fish welfare is essential to optimise production, extract the most value from the biomass being managed and finally ensure high quality food that is ready for human consumption. We should include a reflection on the respectful treatment of living fish: Our aim is to kill only what we eat and make the process as humane as possible for the fish.

Our aim is to only slaughter the fish that will become food and see that no other fish is killed or destroyed due to inadequate handling. By promoting fish welfare and the humane treatment of fish we ensure this objective.

By enabling and making it possible to farm fish in ever more exotic locations, our industry becomes a real contender and enabler for addressing food security and nutrition to help achieve UNSDG number 2: Zero Hunger.

Improved food standards

More efficient business and employee satisfaction

Biomass security Increase quality Improve fish welfare

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Fish Welfare
Improved preservation of wild and natural ecosystems

Fish welfare = transparency,

food safety = Sustainability

Fish welfare is about showing respect for the fish, managing common resources sustainably and achieving optimal quality.

Fish welfare is about showing respect for the fish, managing common resources sustainably and achieving optimal quality.

At MMC First Process, we develop systems that ensure biomass security and solutions for gentle and safe handling of fish. ‘Fish welfare-approved program’ means that the fish have been treated well throughout the handling process.

The Fish Welfare Approved Program shows how using our equipment and technology during the whole fish handling and moving processes optimises fish welfare and thus the quality of the end product.

In MMC First Process, we have developed this program to show that we make every effort to ensure the fish are handled gently and sustainably, resulting in superior quality and value creation for our customers.

To help us manage, measure and evaluate all the processes and stages defined in the programme, we have established a framework of KPIs. Variances will be measured against the KPI’s and we shall regard the Fish Welfare Approved Program as an HSE system for the fish. The benefits will be increased discipline in the organisation, better controls, a constantly expanding body of expertise in fish welfare and not least a culture where we design, develop and build our equipment and technology on the fish’s terms.

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Temperature control (RSW) Circulation system (CFD) Temperature control, circulatory system and water treatment Fish transport system (Rid el.) Stunning line HOLDING TANKWELLBOATCAGE VALUE CHAIN SEA Grading lip fish Crowding Fish transport system (underpressure) Water treatment (CO2, O2) Medication Crowding grid Hygiene washing system Fish transport system (overpressure) KPI Documentation of fish behaviour (injuries, stress parameter, etc.) Documentation of survival and fillet quality Video surveillance of fishing behaviour Monitoring of measurement parameters (pH, temp, CO2, O2 el.) Training Fish Welfare Academy Systematization of results (bigdata) Fish Welfare Technology FISH WELFARE APPROVED PROGRAM «Equipment approval» MONITORING FROM THE BRIDGE Grading GradingTank (design)
traceability,

On a joint mission.

INTRODUCTION TO SUSTAINABILITY IN MMC FIRST PROCESS

How do we work with our colleagues in the industry to solve the common, global challenges that will crucially affect how our future looks?

In 2017, the Company decided to focus on sustainability. It then took a little time to build up our understanding of the issue, but in 2019 the work was in full swing.

We have decided that our mission will be to help our customers become the best in the world at managing the oceans’ most important food resources sustainably.

This is absolutely consistent with our social responsibility, which is to ensure that our customers and the seafood industry are able to handle fish sustainably. From this we arrive at: Enabling Sustainable Fish Handling.

We are a global brand and it is important for us to be a credible and trusted actor with a vision, mission and market position that are coherent and mutually supportive. By this means we shall ensure that our brand stays strong, reliable and durable.

- The vision Transforming the seafood industry by offering complete and sustainable systems solutions worldwide sets a demanding target for us to strive to achieve.

- The mission To work together to help our customers become the best in the world at managing the oceans’ most important food resources sustainably gives us all a clear task that we work towards every day.

- Our communicative position Enabling Sustainable Fish Handling tells the world who we are and what we are.

”Production of more food near where people live is the red-hot topic of the age.”
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Helge Devold
CMO

We have thus developed a compact, coherent strategy for the Company, with sustainability as its firm foundation.

Changing times

The world is changing at record pace, with more and more emphasis on de-globalisation. Production of more food near where people live is the red-hot topic of the age.

Digitalisation is racing ahead faster than ever and we believe that technological development is the key to sustainable food production. Those who fail to keep up with the digital transformation will disappear.

The Company’s strategy is based on the twin concepts of completeness and sustainability, in other words we aim to be a complete supplier of sustainable systems for handling marine biomass.

The sustainability strategy is based on three pillars:

Fish Welfare and Food Production Competence and collaboration and Sustainable value chain

Under each of these pillars, we have set targets and operative KPIs that relate to specific tasks at the departmental level in the Company. We refer directly to seven of the UN SDGs, which we have decided to prioritise.

In this way we can ensure that whole organisation can embrace the UN sustainability goals in its daily work on tasks with identifiable sustainability content.

We have developed our own sustainability KPI matrix, which is being implemented in the organisation this year. By drawing together the three sustainability pillars and the 7 SDGs, we have identified around 50 operative KPIs that we want to measure ourselves against as we monitor our progress with sustainability. The sustainability work will thus become part of the daily round and will be embedded in the Company’s culture. We believe this to be the key to success.

The first priority is to ensure that our own house is in order and that we are doing all we can to reduce our own footprint as far as possible.

But perhaps what is most interesting is what we can to Enable our customers to handle fish sustainably, as that has global reach, a global “handprint”. For every time a catch of pelagic fish is hauled, or a well boat operation takes place, our equipment has an effect on fish welfare, quality and value creation. Our job is to contribute to making as much as possible of the total biomass usable for human consumption.

Sustainability is the common denominator for the three main priority areas: Fish Welfare; Biomass Security, and Product Quality. Sustainability, with its emphasis on traceability, transparency and food safety also lies right at the heart of ethical and commercial success in the industry. Sustainability is the key element in a value chain that generates value for us and our customers.

In recent years we have become aware of the major global and populistic trends towards veganism and organic food, as well as animal welfare. Consumers want to know the source of all their food and that everything has been done ethically and morally. These trends will become steadily more acute.

But the most important thing is perhaps to take into account the need not to make decisions that will affect future generations’ opportunities.

Footprint and Handprint

We who work in aquaculture are supplying new biomass for the planet and we are helping to eliminate starvation, one of the greatest challenges faced by the world and illuminated by sustainability goal number two. (2)

Together we shall manage these common resources sustainably, so that we can leave them to forthcoming generations in a better state than we found them. And we in MMC First Process shall continue to lead the way.

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An industry leading sustainability road map

Business target

Enable customers to become the best in the world at managing the sea’s most important food resources effectively, sustainably and carefully

Fish welfare and food production

Competence and collaboration Sustainable value chain

Strategy

Transforming the world-wide seafood industry by offering complete and sustainable system solutions for the handling, processing and cooling of fish

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Strategy

Transforming the seafood industry by offering complete and sustainable system solutions for the handling, processing and cooling of fish for the seafood industry

WHAT IS OUR FOCUS?

There are many sustainability themes that are applicable to MMC First Process. By carefully analysing our stakeholders’ priorities through a materiality assessment we have selected key themes where MMC First Process can have the greatest impact. By focusing on a select number of themes we can maximise our impact on the sustainability goals.

For each theme, we have defined clear objectives to focus our efforts and have chosen methods to measure our progress. All initiatives and change processes are prioritized, based on their ability to influence progress as defined by the measures chosen.

Fish welfare and food production

Objectives

§ Data driven focus on fish welfare

§ Reduce loss and waste in food production

§ Transform industry through R&D

§ Reduce fish death within fish handling § Increase quality of fish

Competence and collaboration

§ Develop documentation standard of fish living § Contribute to increased competence

§ Initiate and participated in joint R&D

Sustainable value chain

§ Limit use of virgin and non renewable material and reduce production waste

§ Ensure decent working conditions and sustainability in supply chain

§ Improve use of digital solutions and services

§ Reduce emissions in production, supply chain and related to end of life handling of systems

§ Gradually improve the utilization of global resources

Measured by defined KPIs
Feedback and evaluation 19
Fish welfare approved program 21

Fish welfare and food production Fish welfare and food production

Description

MMC First Process enables increased maritime food production through improved fish welfare and quality both within farming and wild catch. We will continually develop and improve systems to increase the share of useful fish.

Objectives

Data driven focus on fish welfare

Reduced loss and waste in food production Transform industry through research and development Reduce fish death within fish handling Increase quality of wild catch 100% use of residual raw material

At the root of MMC First Process’ contribution to the SDGs is the way MMC First Process enables others to provide increased food security by developing improved hardware, software and processes. Our goal is for all bio-mass to survive and become food of the highest quality. This aligns closely with the needs of our customers, based on a more sustainable production. Both in wild-catch and aquaculture, our solutions improve fish welfare.

At the root of MMC First Process’ contribution to the SDGs is the way MMC First Process enables others to provide increased food security by developing improved hardware, software and processes. Our goal is for all bio-mass to survive and become food of the highest quality. This aligns closely with the needs of our customers, based on a more sustainable production. Both in wild-catch and aquaculture, our solutions improve fish welfare.

Ambition -> No dead fish

Ambition -> No dead fish

Fish welfare is also an ethical and moral choice and this choice is steeped in our heritage. By care fully considering the fish welfare, we remain true to our heritage and can focus on our customer`s value chain and the end result: Superior quality fish products.

The process of improving fish welfare starts at the design table and ends with deployment and training of our customers.

Fish welfare is also an ethical and moral choice and this choice is steeped in our heritage. By carefully considering the fish welfare, we remain true to our heritage and can focus on our customer`s value chain and the end result: Superior quality fish products.

The process of improving fish welfare starts at the design table and ends with deployment and training of our customers.

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At MMC First Process, we develop systems that ensure biomass security, and solutions for gentle and safe fish handling. The program defines how the systems are built and used to maintain fish welfare and quality.

DESIGN AND MODELLING

DESIGN AND MODELLING

Our employees aim to be the best in the world at designing fish handling systems. There is con tinuous improvement and MMC First Process applies design thinking processes to ensure we are ahead of the curve and ensure the fish remain alive and healthy as long as possible.

Our employees aim to be the best in the world at designing fish handling systems. There is continuous improvement and MMC First Process applies design thinking processes to ensure we are ahead of the curve and ensure the fish remain alive and healthy as long as possible.

In the drawing process we consider every single detail of our system with fish welfare in mind. Our documentation and quality control system is such that all parts of the drawings are checked for missteps and errors – not only with regard to operational design, but also to fish welfare.

In the drawing process we consider every single detail of our system with fish welfare in mind. Our documentation and quality control system is such that all parts of the drawings are checked for missteps and errors – not only with regard to operational design, but also to fish welfare.

TECHNOLOGY AND ENGINEERING

When converting a drawing to an actual product our engineers are expert welders, down to the smallest detail. Depending on the application of the process, metals and methods of welding are chosen – with fish welfare in mind. The weld seams exposed to fish are particularly monitored and quality assurance protocols are applied in every step of the process. Whilst also continually redu cing surplus metal, we ensure all sharp edges are ground and the finished product is fish welfare friendly.

TECHNOLOGY AND ENGINEERING

When converting a drawing to an actual product our engineers are expert welders, down to the smallest detail. Depending on the application of the process, metals and methods of welding are chosen – with fish welfare in mind. The weld seams exposed to fish are particularly monitored and quality assurance protocols are applied in every step of the process. Whilst also continually reducing surplus metal, we ensure all sharp edges are ground and the finished product is fish welfare friendly.

DEPLOYMENT AND CONTINUOUS SERVICE

DEPLOYMENT AND CONTINUOUS SERVICE

After delivery and implementation of MMC First Prosess’s systems we educate and support our partners and customers to make sure that the systems are used to their full potential. Extensive training programs and support functions are implemented so that the fish handling processes are of the highest quality.

After delivery and implementation of MMC First Prosess’s systems we educate and support our partners and customers to make sure that the systems are used to their full potential. Extensive training programs and support functions are implemented so that the fish handling processes are of the highest quality.

The installation of our systems is a documented process with a complete quality control regime. MMC First Process has developed separate production and control documentation to promote and secure continued development of fish welfare.

The installation of our systems is a documented process with a complete quality control regime. MMC First Process has developed separate production and control documentation to promote and secure continued development of fish welfare.

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Competence and collaboration Competence and collaboration

Description

Contribute to developing the seafood industry with systems and solutions for sustainable management and development of maritime protein

Improve fish welfare globally by being fact-based and challenge assumptions in the sector

Strengthen the sector’s reputation and contribute to increased understanding of our sector’s role in global food production

Objectives

Develop methodology to document standard of living for fish Contribute to increased competence in the business by training in our equipment – to improve fish welfare

Initiate and participate in joint research and development projects to increase the industry’s technological capabilities

MMC FIRST PROCESS AND THOSE AROUND US

MMC FIRST PROCESS AND THOSE AROUND US

We depend on a large array of partners, suppliers and experts to create our solutions. We also want to give something back to the communities we operate. Therefore, this section is divided in two: the innovation process and the knowledge sharing with other communities.

We depend on a large array of partners, suppliers and experts to create our solutions. We also want to give something back to the communities we operate. Therefore, this section is divided in two: the innovation process and the knowledge sharing with other communities.

COOPERATION: INNOVATION

COOPERATION: INNOVATION

Multiple disciplines and specialists are required to ensure we improve our products and services. We work with the research community to better understand the effects our products have on fish. We work closely with our customers and are able to draw on their expertise.

Multiple disciplines and specialists are required to ensure we improve our products and services. We work with the research community to better understand the effects our products have on fish. We work closely with our customers and are able to draw on their expertise.

Below is the story of how we created and installed our solutions for a British customer.

Below is the story of how we created and installed our solutions for a British customer.

Cutting pumping systems to secure fish welfare

Cutting pumping systems to secure fish welfare

In 2020 we launched a new patented fish pump to improve fish welfare. In June 2020, researchers from Sintef Ocean visited our test plant at our site in Aalesund. They ran tests using fish with sensors attached to measure and analyse any pressure surges and shocks through the pump. Prior to this we had also run tests using delicate foods such as tomatoes, eggs and cucumbers etc.

In 2020 we launched a new patented fish pump to improve fish welfare. In June 2020, researchers from Sintef Ocean visited our test plant at our site in Ålesund. They ran tests using fish with sensors attached to measure and analyse any pressure surges and shocks through the pump. Prior to this we had also run tests using delicate foods such as tomatoes, eggs and cucumbers etc.

We have worked closely and effectively with Sintef Ocean and Møreforskning throughout the project, and all of us have gained valuable knowledge Having these research resources available in our network is important in our endeavour to be a world leader in the handling of live fish.

We have worked closely and effectively with Sintef Ocean and Møreforskning throughout the project, and all of us have gained valuable knowledge Having these research resources available in our network is important in our endeavour to be a world leader in the handling of live fish.

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In September 2020, Møreforskning and Fylkesnes Fisk joined us for an experiment where we ran live salmon through the pump. To measure fish welfare, blood samples were taken from all the fish and analysed for lactate, which is an indicator of stress. With the cooperation of the scientific community and our engineers we successfully completed the testing phase, which proved how gentle the new pump is and how little stress it causes to the live fish.

TAKING OUR KNOW-HOW TO OTHERS

When installing a new plant or process in other locations across the globe, we seek to leave a positive footprint on the local community where we operate. We train local tradesmen and help build local knowledge of welding and sourcing and an infrastructure for service and repairs. We find that by making sure the local business community is vested in our processes and way of thinking, we increase awareness of how we try to soften the industry’s impact on local nature, our genuine interest in sustainability and how local businesses can benefit from this.

Complementary to this local focus is that we avoid spare parts being sent around the globe and help maintain up-time of our client’s systems despite the long distance between the installation site and MMC First Process’ factories in Norway and the Baltics.

MMC First Process in Chile

Upon contracting a large land-based aquaculture installation in the south of Chile, we wanted to ensure the processes and services we provided would be well maintained and serviced by people with the right skillsets. Instead of basing service intervals on people flying into Chile we partnered with a Chilean construction firm to build the plant and perform service and maintenance.

The long R&D process in MMC First Process means that the products we supply are carefully engineered to optimise fish welfare, take good care of the bio-mass that our customers manage and that the systems work as designed. To ensure this knowledge, skillset and ethos is maintained in Chile we chose to work with a Chilean engineering group that matches our commitments. In forming this partnership, we have been able to share our specialized know-how and helped introduce this knowledge to the south of Chile.

Mechanical engineers based locally are trained and coached to perform the job to our specification. Channelling resources and know-how into the local population improves local market conditions and improves relationships with the local population. We are proud of our operations in Chile and the exciting opportunities they presents for both MMC First Process and for our partners.

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Sustainable value chain

Sustainable value chain

Description

Customer care, fish welfare and the environment will always be our top priorities. MMC First Process will strive to reduce both our own and our partners and client’s environmental footprint.

Objectives

Limit use of virgin and non-renewable material and reduce waste in production

Ensure decent working conditions and sustainability in our supply chain

Improve use of digital solutions and services

Reduce emissions in production

Reduce emissions in our supply chain

Reduce emissions related to end-of-life handling of our systems

Gradually improve the utilisation of global resources

INTRODUCTION

INTRODUCTION

MMC First Process aims to be a forerunner in reducing carbon emissions and promoting material and resource efficiency in its supply chain. The company aims to intensify this by increasing its engagement with key partners on relevant issues and continuing to increase supply chain transparency related to decent working conditions and the well-being of the employees.

MMC First Process aims to be a forerunner in reducing carbon emissions and promoting material and resource efficiency in its supply chain. The company aims to intensify this by increasing its engagement with key partners on relevant issues and continuing to increase supply chain transparency related to decent working conditions and the well-being of the employees.

Whereas the two other strategic themes are very much about MMC First Process as an enabler for sustainable food production and distribution, the Sustainable supply chain theme involves ensuring that the systems we ours elves provide have as little negative impact as possible, by transitioning from a linear to a circular economy. We will do this by focusing on three main areas:

Whereas the two other strategic themes are very much about MMC First Process as an enabler for sustainable food production and distribution, the Sustainable supply chain theme involves ensuring that the systems we ourselves provide have as little negative impact as possible, by transitioning from a linear to a circular economy. We will do this by focusing on three main areas:

Reducing greenhouse gas emissions by:

• Limiting use of virgin and non-renewable materials and reducing waste in production

Reducing greenhouse gas emissions by:

• Improving the use of digital solutions and services

• Limiting use of virgin and non-renewable materials and reducing waste in production

• Improving the use of digital solutions and services

• Ensure decent working conditions and sustainability in our supply chain

• Ensure decent working conditions and sustainability in our supply chain

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MATERIAL USE AND CIRCULAR DESIGN

As a producer of systems including both hardware and software, MMC First Process’ choice and use of material in our products is our most significant contribution to climate change. Although we will continue to challenge our manufacturing partners on this issue, we acknowledge that our systems designers have a key role in choosing low impact materials, limiting material use, and - by designing modular systems built to facilitate service and repairensuring long service life.

We believe that through our close and long-term relationships with our customers and partners, MMC First Process can be a driving force in the exchange of information and ideas that is fundamental to the design, production, testing and improvement of functionality and resource efficiency of our systems. The ultimate result will be reduced climate impact.

DIGITAL SOLUTIONS AND SERVICES

As the pandemic has accelerated the use of remote work and demonstrated the benefits of reducing travel, MMC First Process will intensify its focus on designing systems and solutions to enable remote monitoring and servicing of our systems in use. This will both increase our service level to our customers as well as reducing direct emissions related to air travel by our service staff.

By implementing effective monitoring and control of system performance our service technicians will be able to ensure correct use of the equipment in use, enabling customers to increase fish welfare as well as limit the GHG emissions related to their operations with MMC First Process equipment.

By relentless focus on less steal and more bytes, our ambition is to significantly improve the sustainability performance of our own operations, in our supply chain and of our customers.

SUPPLY CHAIN TRANSPARENCY

It is of paramount importance to MMC First Process that we can trust our supply chain to provide safe and decent working conditions and that any breaches are identified and reported to initiate corrective actions if needed.

This is the reasonwe have decided that all direct suppliers to MMC First Process must sign our updated Code of conduct, including the commitment to collaborate and to be fully transparent with auditors that will be employed to verify compliance with the expectations and requirements described in our Code of Conduct.

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The Salmon Adventurer

Like Askeladden, the modest Cinderella-like hero from Norwegian folklore, Johan E. Andreassen is adventurous, courageous and idealistic. Persistent and alert for unconventional solutions, he is the one who always wins through in the end.

“I am not afraid of going my own way, being first in the field and challenging established truths. I am extremely target-oriented. If things go wrong for me, I always get up on my feet again and I have complete confidence in what I am doing,” says the 45-yearold who grew up in Tresfjord in the county of Møre og Romsdal. He and his company Atlantic Sapphire have worked day and night for years in order to revolutionise the salmon market. By investing billions, he is building up an enormous land-based aquaculture installation - the largest in the world - in Florida.

Motivated by challenges

Since the company first broke ground in an American tomato field in Homestead, it has suffered mass salmon deaths, a large fire, cost overruns and shortages of oxygen for production because of the pandemic. There has been one problem after another and the share price plunged, but Johan is still upright and unshakeable.

“We have no problems with motivation and can see that this is going to work. The USA must produce its own salmon. To be sustainable, it must be produced in the USA for the American market and not be flown in from elsewhere,” says the salmon entrepreneur who owns and chairs the company.

Uniquely positioned

The advantages of being co-located with the market are even greater than first thought, not least because of the pandemic and Russia’s war against Ukraine. The importance of being able to control food production within a national border has been demonstrated. He believes Atlantic Sapphire is uniquely positioned. It has gained great leverage from being located on land in Florida and having nothing to do with the sea. Marine groundwater is pumped up and used for fish production. The waste water is pumped back down to 3,000 feet below ground.

Control over nature

“Every day we seek to improve the design of the microenvironment for the salmon in the land-based installation. Our aim is to optimise conditions for the fish so that they live in surroundings they would have chosen for themselves, given the chance. In a net pen installation, fish have to be vaccinated against many diseases. In a land-based installation you can control nature yourself,” says Johan Andreassen.

Sustainable salmon, with all their medical benefits, are produced and sold to an American market that needs healthier dietary alternatives. The production target is 220,000 tonnes of salmon per year by 2031. According to Dagens Næringsliv, this is more than Norway’s annual production of beef and pork. The first phase of the US installation has already been completed and the second phase has started.

Animal welfare and sustainability

Johan Andreassen grew up with a grandfather who was a fisherman and a father who was a farmer. He learned at an early stage that good animal welfare is not just an ethical given; happy animals also deliver the best quality products and financial returns. These values are deeply entrenched in Atlantic Sapphire’s thinking.

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We have tried continuously to outpace the competition by doing things others have not done previously and we firmly believe that we together with our partners and suppliers shall write a salmon success story like of which has never been seen before,” says Andreassen in Atlantic Sapphire.

Started early

Goes his own way

Born with a go-ahead spirit and the drive to do well, he first established his own business in upper secondary school, with friend and second cousin Bjørn-Vegard Løvik (44). Until effective medicines destroyed the market, they caught cleaner fish that the salmon farmers could release in their net pens to eat salmon lice. Via the company Villa Organic, they decided to invest in salmon farming in an untraditional area in East Finnmark. In 2010, they sold the company to Lerøy and Salmar at a very good profit and established Atlantic Sapphire that same year.

Raised billions

The duo was now ready to try out a relatively untested business idea, namely large-scale salmon farming on land. An installation outside Hvide Sande in Denmark was the pilot project for an enormous installation in the USA. Andreassen and Løvik were ahead of the field again and raised billions from venture capital investors.

Sustainable, but the taste was slightly off During the Villa Organic period they were one of only a few Norwegian aquaculture businesses with a core market in the USA and they had contracts with large supermarkets. They adjusted production to meet customer requirements and were the first in Norway to produce salmon environmentally. This opened the door to the large US market.

“Sustainability and the environment have been in our DNA throughout. Environmental salmon is a fine product, but the taste was slightly off as sustainability was weakened by the air journey to the USA,” relates Johan.

The cousins therefore decided that the salmon for the American market would have to be produced in the USA. Even if the journey has been tough to date, Johan is convinced they will succeed.

Success story

“I must admit that I felt very small in very large country when we landed in the USA 10-12 years ago to create a salmon industry where nothing existed already,” says Johan about the start of the adventurous new project. We have tried continuously to outpace the competition by doing things others have not done previously and we firmly believe that we together with our partners and suppliers shall write a salmon success story like of which has never been seen before,” concludes Andreassen.

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Health, safety and the environment (HSE)

In order to protect its employees’ health and safety at work and successfully maintain good relationships with its customers, it is essential for MMC First Process to make proper use of personal protective equipment (PPE). Use of PPE and compliance with the Company’s HSE rules and internal control procedures is compulsory in all production facilities.

MMC First Process places high priority on the safety of its employees and, with HSE in mind, jobs are structured to prevent potential injuries. The target for personal injuries is zero-harm.

MMC First Process concluded an inclusive working life (IWL) agreement with the employee representatives in 2021. The main objectives of the IWL policy are:

MMC First Process aims to achieve an inclusive working life that enables employees to develop their skills to the full and apply them actively in their work.

The focus in the workplace environment shall be on prevention.

• MMC First Process shall promote a healthy workplace, with particular attention to personal mastery, employee participation and development.

• Managerial support and cooperation within the organisation are prerequisites for creating a thriving, inclusive working life.

• All parties are responsible for achieving targets and action plans and this requires the employer to work closely with the employee representatives, safety representatives and staff to ensure that the plans are realised.

Sub-objective 1 Maintain work attendance in MMC First Process AS at over 97%. This means that sickness absence, including self-certified absence, shall not exceed 3%.

Sub-objective 2 Prevent dropout from working life and increase employment of persons with disabilities.

Sub-objective 3 Encourage employees to remain economically active and defer drawing their pensions, so that their useful careers are extended.

Sickness absence in MMC First Process has been stable for the last three years, at less than 3%. In the last year sickness absence has risen somewhat and in 2022 so far it is 4.5%. The increase has mainly been in short-term, self-certified sickness absence. This may be the result of many having suffered from colds and influenza, caused by reduced immunity in the population generally, after two years with Covid and extensive restrictions. The Company is monitoring this development closely and is following up employees who need support.

Emergency preparedness and industrial safety

Health and safety of employees

During 2021, MMC First Process recorded two personal injuries that resulted in absence and loss of productive work time (Lost Time Injury/LTI*). One LTI has been recorded during the first six months of 2022.

*A lost time injury (LTI) is an injury sustained on the job by an employee that results in the loss of productive work time.

The enterprise has an established industrial protection organisation that is able to act decisively and effectively to limit the consequences of undesirable incidents that threaten life, health, the environment and material assets. Normality can quickly be re-established.

MMC First Process has also prepared an Emergency Plan, trained its staff and carried out the necessary on-site exercises.

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Quality assurance

During the last year, MMC First Process has been engaged in implementing a management system for Quality and HSE (TQM Enterprise) pursuant to the requirements in ISO 9001:2015 and ISO 14001:2015. Achievement of the Company’s strategic goals depends on MMC First Process having control over its processes and procedures and being able to document requirements from its customers and the authorities.

The management system helps MMC First Process to maintain control over its value chain and enables employees to find documentation easily when they need it. The system has several modules. Nonconformities and improvements are managed using the management system’s Case Handling module.

All systems for handling, processing and freezing of fish are tested against a range of criteria, both during the project and before delivery to the customer. A dedicated start-up team carries out these tests and quality checks. The management system’s checklist and forms module is used to complete pre-defined checklists on a mobile phone, PC or tablet during the test. For complicated tests, several employees can work together on a single form. The customer can then sign the form directly (by mobile phone) when the test is complete. The completed form is then produced as a pdf file that can be sent to the customer as verification that the test has been done.

MMC First Process has good internal control procedures for ensuring compliance with Norwegian HSE legislation. The forms module in the management system is used for interior and exterior safety rounds (Safe Job Analysis) in order to document that employees have been trained on machinery, equipment etc. The one-to-one link between PC and TQM app also enables employees to pre-complete necessary information in the forms before production starts.

The Company pays great attention to fish welfare and has developed an internal “Fish Welfare Approved Program” for handling fish as gently as possible as they pass through the systems. All points of contact between the fish and the equipment have been identified. For example, in land-based aquaculture the requirements for land-based aquaculture installations for fish (NS 9416) must be complied with. NS 9416 contains strict requirements for risk analysis of methodology and fish escapes etc. The management system’s Risk module is used to carry out and record these risk analyses. The module provides for worst-case risk assessment in advance of corrective steps being taken and then again once measures are in place. The assessment can be supported by adding customer documentation, as well as MMC First Process own documentation. Historical information from earlier risk assessments can also be displayed, so that previous trends and measures executed are visible.

The Transparency Act and ESG

The Norwegian Transparency Act came into effect from 1 July 2022. The Act is intended to secure decent working conditions throughout the value chain and the enterprise is required to provide evidence of its own efforts to achieve this.

The Act imposes a duty to provide information and a duty to undertake due diligence. A public report on these matters is required and members of the public may ask for documentation at any time. The report shall be updated and published by 30 June annually, first time 30. June 2023.

MMC First Process has conducted a human rights due diligence on our operations and our entire supply chain, including business partners. This means that MMC First Process has made assessment of where the risk of violations of fundamental human rights and decent working conditions is greatest, and based on this assessment performed necessary measures.

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Thinking innovatively, widely and creatively

With Head of HR Director Merete Alnes Mostue in the lead, MMC First Process has engaged 85 new staff up to autumn 2022, making MMCFP one of the largest recruiters in the whole region.

“It is about thinking innovatively, widely and creatively, in both the short and long term. If we and other companies in the industry are to achieve our goals, successful recruitment is essential. We are therefore making great efforts on several levels to make ourselves as attractive as possible,” says the HR Director.

MMC First Process made impressive progress between 2020 and 2021, when it almost doubled its turnover from NOK 530 million to over NOK 1 billion. This growth has meant that a string of new recruitments was needed, at time when demand for labour has never been higher.

Rescued specialisations in the school system

“We have reinforced our ties with the school system, by helping to rescue two specialisations in refrigeration and heat pump technology. In Ålesund, we have invested a six-figure sum in upgrading the facilities. In Stavanger, which is important for our department in Haugesund, only one person applied. We promised NOK 20,000 to those who passed the exams and filled the course,” says Mostue.

There is huge requirement for people with these qualifications right across the industry. Technical refrigeration expertise is vital for fish welfare and the quality of fish, from catch to consumer.

Paid for a stay in Ålesund

“This summer we paid for a festival and cultural weekend for ten young people we selected at recruitment fairs. We are not just trying to persuade the best brains to move back home, but also want to attract people who grew up outside our region to “Take a trip to Sunnmøre”,” explains Mostue.

MMC First Process covered everything - air fares, living and hotel costs, VIP tickets to the Jugendfest event and speed-dating with industry players. We linked this to Momentium’s event to show that a lot happens in Ålesund nowadays, making it an attractive place to live and work. MMC First Process promises more of these ‘show not tell’ invitations.

Stop

the brain drain

“In addition to our creative recruitment events, we are also working closely and strategically with academia. We must help to create commitment and interest in the industry and want the best brains with us on the journey. The establishment of NTNU in Ålesund has been an important step forward in attracting more students here. NTNU has introduced new specialisations and master’s degree studies. Our task now is to stop the brain drain and persuade more of them to stay in Sunnmøre than hitherto,” says Mostue.

She herself studied at the Norwegian School of Economics and Business Administration in Bergen in the late 1980s. Of the 25 students from Sunnmøre in her year, only two have returned after all these years.

Broaden the hunt

“We must intensify the hunt beyond the region. Otherwise, industry players will just be recruiting people from one another and that is not very sustainable. We need new blood from elsewhere. That also means that we must be more visible outside our region. We must be able to explain who we are and show the exciting jobs and career prospects we can provide. We can offer an opportunity that should not be missed!” says Mostue.

MMC First Process will therefore travel to cities such as Trondheim, Bergen, Tromsø and Oslo to meet potential new staff. The company will concentrate more and more on Employer Branding in all channels, in order to improve people’s knowledge and understanding of MMC First Process.

Competitive at all levels

MMC First Process is committed to competitive terms and conditions, insurances, pensions and other benefits that make it attractive to work in this innovative company with its 200-plus employees. The company has also established an onboarding programme to welcome, induct and familiarise new staff from first engagement to being fully settled in. This also includes developing good training plans.

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Whether you are thinking of joining us or are an existing member of staff, we believe we can provide you with a happy working environment, job satisfaction and excellent career prospects, says Merete Alnes Mostue, CHRO in MMC First Process.

Investing heavily in recruitment

Merete Alnes Mostue

CHRO

Pays for education

MMC First Process focuses intently on staff welfare and job satisfaction. A new employee can be sure of being seen and valued and will have every chance to develop. Recruitment is extremely important, but so is retaining good people. Last year the company introduced an education policy, where the company supports staff who take a short or long course, a part-time course or a master’s degree. Grants are awarded for full-time further education and there is also financial support for part-time courses.

Excellent working environment

“Our working environment surveys show a very high level of satisfaction in the company, even during an intense period of growth. Very few leave us and our employee turnover is less than 5%,” says Mostue, whose days have been hectic since she started in MMC First Process just three years ago. The HR team has now been increased from two to three.

Age diversity

MMC First Process is determined to have diversity in its workforce and has increased the proportion of women from 15 to 20 percent in the last 2 years. Age diversity is also an important aim and the pension age is now 72 years.

“We have recruited mostly young people, but also many experienced staff of 50-plus. They bring very valuable expertise and are stable employees, whose families tend to be grown up. They do an excellent job. We have even recruited staff in their 60s,” says the HR Director.

Game Changer

MMC First Process describes itself as a Game Changer in aquaculture, aquaculture technology and fish handling. The company places great emphasis on fish welfare and sustainability.

“But we also view every single one of our employees as a Game Changer for the company. Every employee is unique in their own way and they are all important contributors to MMC First Process’s success. With us, all staff have the opportunity to develop themselves and create a career if that is their goal.” says Mostue. In summary, HR Director Merete Alnes Mostue’s message is: “Whether you are thinking of joining us or are an existing member of staff, we believe we can provide you with a happy working environment, job satisfaction and excellent career prospects.”

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Our green house gas emissions measured

Scope 1: Emissions resulting from activities directly linked to production

Scope 2: Emissions resulting from indirect emissions such as heating and electricity usage Scope 3: Emissions as a consequence of the products and services we purchase from our supply chain.

Ton CO2 Equivalents 2019 2020 2021 Scope 1 127 68 59 Scope 2 3 5 3 Scope 3 13 936 9 823 17 675 - of which is related to business travel 228 103 118 Carbon effiency (Emissions/Revenue) 23,31 18,50 17,46 Ton CO2 Equivalents per MNOK revenue 2019 2020 2021 Scope 1 0,21 0,13 0,06 Scope 2 0,01 0,01 0,00 Scope 3 23,09 18,36 17,40 - of which is related to business travel 0,38 0,19 0,12 Figures from Normative dashboard. 34

Global sustainability frameworks

TEN PRINCIPLES

Customer care, fish welfare and the environment will always be our top priorities, and the ten principles in the UN Global Compact match perfectly with our own ambitions in MMC First Process.

UN Global Compact`s mission is to generate an international movement for sustainable companies, and encourage companies and organizations to align their strategies and operations with ten universal principles on human rights, labour standards, the environment and the fight against corruption. A further aim is to promote the UN Sustainable Development Goals (SDGs).

Joining the United Nations Global Compact represents a further step forward, as we develop the sustainability strategy.

EU TAXONOMY

In 2020, MMC First Process conducted a EU Taxonomy screening (“the Taxonomy”) for the first time.

The purpose of the screening was to:

1. understand if MMC First Process conducts business today that is defined as a green activity in the Taxonomy, or

2. what the future holds for MMC First Process with regard to the future development and expansion of the Taxonomy.

Whatever the industry or business, the Taxonomy is based on the following 6 environmental objectives:

1. climate change mitigation

2. climate change adaptation

3. sustainable use and protection of water and marine resources

4. transition to a circular economy, waste prevention and recycling

5. pollution prevention and control

6. protection of healthy ecosystems

Based on the objectives there are 3 conditions to comply with to be considered a green business:

1. contribute substantially to at least one of the six environmental objectives

2. do no significant harm to any of the other environmental objectives

3. comply with Minimum Social Safeguards

Result of screening

MMC First Process’ activities is not per 2020 defined as green by the taxonomy. MMC First Process will continue to monitor future developments of the screening criteria to early understand what it might mean for our business activities.

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Energy Efficiency Systems

MMC First Process pioneers Energy Efficiency

System to make seafood production climate neutral.

“Our Energy Efficiency System will produce thermal energy. The output from the system in terms of the heating or cooling that we need is equal to the input energy multiplied by seven,” says Jan Petter Urke, Head of BU Energy in MMC First Process.

Combined technology system

Much of the technology already exists, but it has to be drawn together and optimised using new SMART control systems. MMC First Process wants to lead the way, by using thermal energy in seafood production and the associated logistics. “I am not aware of any other organisation that has made so much progress with coordinating and combining the elements of energy consumption, energy storage, energy recycling and electrical power sourcing in a system as complete as our Energy Efficiency System. Seen like that, this is pioneering work,” says CEO Petter Leon Fauske.

Both heat and cold “By exploiting both heat and cold, the system will deliver the heat needed for some types of processing and the cold needed for other types of processing. There will also be energy for heating offices, air conditioning, hot water, ice and snow melting to mention just a few,” say Jan Petter Urke. “We can also recover cold energy, in processes such as melting of ice and cold water. Another cost-saving function is to convert surplus heat into cold. In production processes that demand a good deal of chilling during the day, we can store cold during the night to minimise the amount of power drawn from the electricity grid during the day. Measures like this also have a significant impact on costs.

We can foresee adding solar as an additional energy source, as well as using water, soil and rock both as chillers/freezers and as a reservoir of energy. Another aim is for our Energy Efficiency System to be usable onboard fishing vessels and in the handling and processing of fish.

Pilot project and case study

The pilot project Climate-neutral Seafood Production for the Future is owned by MMC First Process and is supported by Innovation Norway.

Hofseth International is a major contributor. One of Hofseth’s plants will be used as the case study in order to demonstrate the benefits of such a system.

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Energy Efficiency System

“Climate-neutral Seafood Production for the Future is based on using as little energy as possible when managing and processing our food resources. We see great international potential for our project,” says Jan Petter Urke, Head of BU Energy in MMC First Process.

Climate footprint

“The pilot project’s aims include identifying opportunities for cost-effective and environmentally-friendly use of energy in the seafood industry, compared with the present pattern of energy consumption and climate footprint. Another significant factor in this context is co-location of aquaculture and processing of both main products and residual raw material,” says Jan Petter Urke.

Sustainable energy sources for MMC First Process’s Energy Efficiency System are likely to include solar power, hydropower, wind power or biopower. The energy carriers can be hydrogen and batteries. The resulting energy can be collected in a central energy store where both the heat and the cold can be utilised. Between the energy sources and the central energy store there will be a system that selects the correct source. Being able to use different energy sources at different times of the day and year will save significant costs.

Solid support for sustainability

“On a global basis, energy and food will present huge challenges as the population is expected to grow from 8 to 10 billion towards 2050. Too little food and access to energy may cause instability. Climate-neutral Seafood Production for the Future is based on using as little energy as possible when managing and processing our food resources. We see great international potential for our project,” concludes Urke.

Refrigerator/freezer Chiller Air-condition Machinery system Hot water HVAC Seafood processing Fish farming process
grid Solar power Wind power Biogas/Diesel gen.
Battery Thermal storage Fuel cell
Power
Thermal storage Hydrogen
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Social responsibility

MMC First Process’s contribution to the community - sponsoring sport from the broad base up to elite athletes.

MMC First Process has a defined sponsoring strategy that has cultural, sporting and humanitarian/ community-orientated dimensions. An express goal is for us to include as many people as possible, by prioritising our commitment to the local community in which we operate. For sport, this means we have chosen a strategy where our sponsorship starts with the broad base and continues right up to the elite level, all year round.

Our social strategy supports our brand and communications strategies and its purpose is to create good associations for the Company and support our recruitment and sales efforts. We hope that our activities will help us to achieve our strategic goals and be well liked by all who have anything to do with us.

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Njård freediving club, Skotholmen, Herøy.
GATH NTNU Business model Top to Top Martin Helseth Plastic cleanup Njård freediving club Impande Team Rynkeby Environment Sustainability Education Social responsibility Diversity Business development Talents Sunnmøre Master TIP Students Apprentice company Summerjobs IA company (Inclusive employment) Experience skills 72-year retirement age Strategy Transforming the world-wide seafood industry by offering complete and sustainable system solutions for the handling, processing and cooling of fish Fish welfare and food production Competence and collaboration Sustainable value chain Business target Enable customers to become the best in the world at managing the sea´s most important food resources effectively, sustainably and carefully Sponsorship with 60-70 activities Society and environmental fund Momentium Regional development 39 The figure below shows how we have chosen to structure our social and environmental commitment.

Global Aquaculture Tech Hub

Here and now, Sunnmøre and its surrounding area is the centre of gravity for technology development in the aquaculture industry. We in MMC First Process therefore combined with Sølvtrans to create a global aquaculture technology hub, whose aim is to lead and coordinate market-orientated innovation and promote further development of the industry.

The basic idea of GATH is that we are united in our certainty that our technology is crucial for improving fish welfare and sustainability. Just a year after start-up, we dare to believe that the industry has spoken and that the Sunnmøre region is the most exciting centre of aquaculture technology in the world.

We have chosen to grasp the opportunities that lie ahead, but will only succeed if the industry and society work together to create that success. So far, we have succeeded in bringing together world-leading industry players, academia and representatives from the public administration and political life. Looking ahead, we must work together as a group to develop the best possible solutions and attract the highest calibre people into the industry, to help us achieve our important social mission.

Twenty-five companies, each a leader in its own specialisation, have joined together to find solutions to common challenges. Together we have the strength, influence, people and expertise to succeed. As global industry players, we must lead the way into the future of the aquaculture industry. Our ability to work together will determine how far we get.

Our aim was to start locally and think globally and that is what we have done.

We have looked out into the world and the world has looked in at us. With the member companies, work is being carried out today to establish new hubs of expertise around the world such as GATH Scotland, GATH USA and GATH Chile. This year we also hope to make further progress with GATH Tasmania and GATH Canada. We envisage MMC First Process being a major contributor to developing a global network of expertise for the aquaculture industry, where the industry itself stands at the forefront and provides the impetus for new, sustainable systems and solutions for the benefit of all. By acting in this way, we can all contribute to eliminating hunger, while also solving major environmental challenges. Taking the lead also means assuming responsibility. We look forward to continuing the good work in collaboration with the other companies in GATH.

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Uncertainty gives opportunities

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At Credo Partners, we are immensely proud to be partnering with the founders and managers of MMC First Process in enabling the scaling up of this global leader in live fish handling, and in building the company for the future.

With hindsight, the past 30 years have looked both stable, comfortable, and almost always moving in the right direction. Sure, the internet bubble burst about decades ago, and the financial crisis set in about a decade ago, but in the big picture of advancing technology and globalization, the world’s population at large has seen immense improvements in their living standards.

Today, we are facing what is probably the worst cocktail of challenges since World War II: An invasion war in Europe, a climate crisis, galloping inflation, the aftermath of covid, an energy crisis, lack of labor, and deglobalization/regionalization of the world economy. Some would even add the erosion of democracy.

The only “good” news is that mankind has brought this upon itself and can also fix it itself. But it will certainly not be easy. We are in for a rough ride.

The climate crisis is the most fundamental. What the world has built in the past 200 years, we must now transform in about a tenth of that time.

But this entails opportunities. There will among many other things be a need for more proteins to feed the world, based on more sustainable production, and with less climate gas footprint.

In MMC First Process, we are committed to contribute positively to addressing these challenges and have an impact on the future.

We help to enable feeding the world in a more sustainable way. The production of fish has a far better climate footprint than the production of meat. And aquaculture is still in an early phase of development, despite the fact that the most advanced production, that of salmonids, has been going on for more than 50 years.

The pressure on the aquaculture industry to improve methods and increase volume is strong. And so is the focus on ESG. At MMC First Process, we believe we are fairly good on the S and the G dimensions, while we have been rigorously tracking the E only for the past 1-2 years. We will continue to improve on this through emission reduction and fish welfare technology.

Consumers will exert ever more pressure on food producers to be compliant and proactive on sustainability. We see great opportunities in helping the other players in the chain to meet these desires. But to succeed, there must be close cooperation between the different parts of the value chain. Cooperation is even itself one of the UN Sustainable Development goals.

And what is more natural than an integrator like MMC First Process to take a key role in this cooperation? Our whole business idea is to assemble the best products from the best players in providing the most solutions to the most advanced customers. Together with others we where initiators of Gath. Which promote cooperation throuout the industry.

I hope you will find this report interesting and inspiring reading, and encourage you to give us feedback, should you have any.

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Photo at Kapp Horn at Statsraad Lehmkuhl...in a hurricane
MMC FIRST PROCESS AS info@mmcfp.no mmcfirstprocess.com +47 700 83 900 Service 24/7 + 47 700 83 911 ENABLING SUSTAINABLE FISH HANDLING ENABLING SUSTAINABLE FISH HANDLING
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