Nutreco provides $2.5 million convertible loan to AquaCon

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Scraping together financing for building plans in the United States.

Last week it was announced that AKVA group and its new strategic partner and major shareholder gave five million dollars in a convertible loan to AquaCon, a Norwegian company that will build three land-based salmon farms in the United States.

On Monday morning, Skretting owner Nutreco announced a $2.5 million convertible loan to AquaCon. According to the plan, Skretting will supply feed to AquaCon.

Read also: Why would AKVA group choose to act as a bank for land-based salmon farmers?

“Since 2019, Nutreco has invested in five other land-based aquaculture projects, as it believes this is one of many protein production methods we need to feed the nearly ten billion people expected to populate the planet by 2050,” a press release from Nutreco said. Monday morning according to E24 .

“We are very pleased to have Nutreco as an anchor investor,” said chairman of the board Henrik Tangen to E24.

AquaCon will build three land-based salmon farms on the east coast of the United States for one billion dollars, with a total capacity of 45,000 tons of salmon.