New 66,000 tonnes land-based salmon farmer Sande Aqua to announce IPO next summer

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Start-up is following in the footsteps of Andfjord Salmon, Salmon Evolution and Atlantic Sapphire.

On Thursday morning it was announced that Sande Aqua will build a land-based salmon farm with an annual production of 66,000 tonnes of salmon in Skipavika in Gulen, Western Norway. The facility will be listed on a plot opposite the oil refinery at Mongstad.

Skipavika serves today as an anchoring ground for oil platforms and drilling vessels.

Stein Inge Larson. PHOTO: Sande Aqua

Skipavika is owned by Stein-Inge Larsen, who earned his fortune by building up and later selling, the truck empire Byrknes Auto.

Same race
He is well acquainted with the salmon industry, primarily by virtue of trucking fish, but also through his brother Tore Larsen, who is the Firda Seafoods’ sales director. Firda Seafoods is a fully integrated salmon and trout farming company.

Here is a preliminary overview illustration of the new facility.

Stein-Inge Larsen told SalmonBusiness that Sande Aqua will follow the same steps as companies such as Andfjord Salmon, Salmon Evolution, and Atlantic Sapphire have done. Namely, to go on the stock exchange to finance parts of the company.

EUR 460 million to 550 million
“Our plan is: We have now raised NOK 10 million (EUR 0.9 million .ed) in equity. Then we’re going to get NOK 20-30 million (EUR 1.8-2.7 million .ed) this winter. And then an IPO before the summer,” Larsen said.

The project has a total framework of between EUR 460 million to 550 million.

The entrepreneur is already in full swing recruiting people for the project.

“We’re going to have names of people who are due to start next week,” Stein-Inge Larsen told SalmonBusiness.

Here is the plot where the facility will be built. PHOTO: Sande Aqua