With the fish tanks required to be located below seawater level and the water being taken from around 50 metre of depth, the company said it was confident it could produce salmon in the most sustainable way.
Hjelmen added that underground salmon farming would have 90 per cent less visual impact compared to traditional fish farming.
Chief technology officer William Vossgård said the company would like to hear from businesses and private individuals interested in investing in and contributing to the venture.
Asked how drilling large tunnels into the rock could be financially feasible Vossgård said it would be more costly to constantly pump sea water to a higher up and visible land-based fish farms than blasting tunnels.
“In Norway tunnelling is well known and there is a lot of expertise. Tunnelling is not that big an exercise for Norwegians, and it is less stone to move than excavating the whole site,” he said.