Blue Circle Aims to Put Arctic Char on Top Shelves with a €30 Million Growth Plan

Ask an average shopper, and most will confidently say that nothing beats the taste of salmon, the king of fish, or its close cousin, trout. Speak with a nutritionist, however, and you’ll often hear praise for Arctic char, a far lesser-known salmonid that many consider an exquisite alternative to salmon with refined flavour and even stronger nutritional profile. 

Lauris Apsis recognized the potential for Arctic char to become the first choice for consumers at the fish stand in Latvia and founded SIA Blue Circle. Today, they operate the largest and most advanced fish farm in the region and have even bigger and bolder plans on the horizon. 

Frontrunners of the Latvian aquaculture sector 

Blue Circle, known in the Latvian market under the brand “Zivs uz ledus” (“Fish on Ice”), was established in 2019 at a moment when Latvia’s aquaculture sector was in need of modernisation. The company specializes in farming Arctic char at its state-of-the-art recirculating aquaculture system (RAS) facility and already accounts for about 12% of the country’s total aquaculture output. 

At the time, implementing RAS technology was an ambitious and innovative solution in a sector that was dominated by traditional aquaculture systems. Globally, RAS is considered the most environmentally friendly and sustainable solution for industrial fish farming, yet in Latvia, only a handful of early adopters were willing to take on the technological challenge. Blue Circle was one of them. CEO Lauris Apsis explains: 

“Most production still comes from traditional pond farms with limited scalability, while attempts to develop RAS-based facilities have often failed due to a lack of knowledge and experience. We established close cooperation with Nordic experts from the very beginning and actively engaged in international training events, which helped us advance in the field.”

This strategic approach allowed Blue Circle to build operational stability and become one of the most modern aquaculture companies in the country. Its production is based on a fully closed-loop recirculation system in which water is extracted from underground, reused multiple times, purified, and returned to nature clean. Every stage of the process is optimized, enabling the company to produce 93 tonnes of Arctic char in the first 11 months of 2025 while employing just four people. 

Looking ahead: Multi-million-euro expansion plan 

Blue Circle’s success did not happen overnight. The company was launched on the eve of the COVID-19 pandemic. Then, the global energy crisis hit. These disruptions, combined with Latvia’s low visibility in export markets and lack of experience, made the first years immensely challenging. Still, they pushed the founders to learn quickly and improve process time and time again.

Today, the company exports 15% of its production to Finland and Estonia and is prepping for its next development stage. Together with its Finnish co-owners, the Salmela family (founders of the popular Hesburger quick-service restaurant chain), they are working on a major expansion plan aimed at scaling production capacity and covering the whole Arctic char processing cycle. 

Demand for aquaculture products is growing, and consumers increasingly prefer processed, portioned, ready-to-eat fish products with longer shelf lives rather than fresh whole fish. Considering the market shift, Blue Circle is gearing up for investments exceeding €30 million, which will be used to: 

• Boost production capacity from 120 to approximately 3,000 tonnes per year 

• Supply high-quality Arctic char fillets to the HORECA sector in Latvia, Scandinavia, broader Europe, and potentially the Middle East 

• Develop value-added products, including cold-smoked and hot-smoked fish, as well as jerky-style snacks. 

With immense growth plans brewing, one of the key challenges for Blue Circle will be securing skilled talent, both highly qualified specialists and workers for core production functions. Building a strong international sales team will also be crucial in developing export markets and further strengthening Latvia’s position as a modern aquaculture player.

Effective communication will be key to reaching the next stage of development. While Blue Circle mainly collaborates with retail and wholesale chains, it is the end consumer that they still have to win over. Lauris adds, “Many shoppers do not yet recognize Arctic char, but once they taste it, they rarely want to go back to salmon or trout.”

So, only one question remains: how long will it be before Arctic char becomes the first choice at the fish stand?