€7 million share issue raised, Fredrikstad Seafoods celebrates first harvest for land-based salmon

News
1123

Nordic Aquafarms subsidiary described success of its first test salmon harvest

Bernt Olav Røttingsnes inside the land-based facility in Fredrikstad. PHOTO: Stian Olsen

“In addition to good support from existing shareholders, several new, capital-intensive shareholders have subscribed to the share issue, including companies connected to the aquaculture industry. We are very pleased with this and show that our strategy of developing land-based facilities close to the major markets has good support among investors”.

This is what CEO Bernt Olav Røttingsnes told SalmonBusiness after the company raised almost EUR 7.1 million in a share issue, where Carnegie was the financial advisor during the process.

“The capital will go to developing the plants in the US, and to further develop the plants in Denmark,” Røttingsnes added.

In addition to the land-based plant in Fredrikstad, Nordic Aquafarms has come a long way in the process of a land-based plant in Belfast, Maine, which will produce 33,000 tonnes of salmon annually. Construction plans are also being worked on in California. Nordic Aquafarms has also indicated to SalmonBusiness that they are looking at the possibility of producing salmon in Asia.

From the test harvest of the week. PHOTO: Nordic Aquafarms

Earlier this week, the subsidiary Fredrikstad Seafoods harvested 50 fish at Norway’s first commercial land-based salmon farming facility. About the same number will be harvested next week. The salmon was delivered to selected restaurants and shops as well as shareholders and employees.

“We have had a good test of the harvest plant in Fredrikstad and have had sensory tests of the salmon, with consistently good feedback. The fish has great colour, smell, texture and not least taste. We expect to start the sale of the first salmon farmed on land in Norway in a few weeks. We are looking forward to it,” said Røttingsnes.

Around 15-20 tonnes per week will then be produced. In March, Nordic Aquafarms hired experienced Patrick Lorenzi from Cermaq, who is helping speed up salmon sales.

“In general, there is very good interest in salmon from Fredrikstad, but we do not want to comment more on the status of the sales work,” concluded Røttingsnes.

Board member Petter Borg in Nordic Aquafarms. PHOTO: Nordic Aquafarms