Salmon evolution raises EUR 20 million

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In the midst of the corona virus crisis another land-based salmon farmer receives funding.

The interest and trust in Salmon Evolution has not been inflicted by the world crisis at the moment, both existing shareholders and new industrial owners provide the company with an additional EUR 20 million for the company’s major project to farm fish on land. Ronja Capital becomes the biggest investor in the company, states a press release.

”The decision by the present shareholders to provide us with further capital is a vote of confidence,” says Kristofer Reiten, chair of Salmon Evolution, and adds:

”The experience and expertise possessed by the shareholder structure over the whole salmon value chain will make a big quality contribution to our future development.”

Salmon Evolution

Salmon Evolution will utilise flow through technology with reuse in exploiting clean and fresh water from the sea off Indre Harøy in Hustadvika, Norway local authority to provide salmon in the farm with optimal conditions for growth and good health. This will ensure a sustainable annual output of 36 000 tonnes of salmon.

Ronja Capital is owned by Roger Halsebakk, the founder of Sølvtrans – the world’s largest wellboat owner.

”Low biological risk has been the biggest consideration for us in assessing investment opportunities in land-based aquaculture,” says Tore Tønseth, investment vice president at Ronja Capital.

”Our view of the company hasn’t changed, despite the fluctuations in the financial market over recent months. We’ve followed this project over a long time, and now want to contribute to the company’s continued development.”

Photo: Board of Salmon Evolution