Andfjord Salmon has also entered into an operational feed supply agreement with Nutreco’s aqua feed business, Skretting.
Andfjord Salmon is a Norwegian company; it was established in 2014 and is listed on the Oslo Stock Exchange.
Its salmon production is based on a closed flow-through system, which it says combines the benefits of both traditional and land-based aquaculture while solving a number of traditional farming issues.
Holmøy, based in Vesterålen, North Norway, will invest in Andfjord Salmon through its fish farming company Eidsfjord Sjøfarm AS, which already owns 66,400 shares in Andfjord Salmon.
Nutreco will invest NOK 20 million in the land-based producer, while Eidsfjord Sjøfarm will invest NOK 8 million. Andfjord Salmon’s founder and board member Roy Bernt Pettersen will contribute a further NOK 10 million in new equity.
The proceeds are intended to be used in part for funding the company’s expansion plan.
“We are delighted to enter into these agreements, which will bring on board two strategic investors to Andfjord Salmon and secure supply of our preferred feed,” said Martin Rasmussen, CEO of Andfjord Salmon.
Under the feed deal, Skretting has committed to supply feed that is specifically tailored to Andfjord Salmon’s flow-through technology to ensure optimal water quality, fish welfare and growth conditions in the land-based pool.
Skretting’s experts will also participate in a technical advisory committee, which will provide advice to Andfjord Salmon’s production protocols and regularly evaluate production KPIs with the objective of further improving conditions for the fish.
“Our aim is to have the world’s most fish-friendly and sustainable fish farming facility of its kind. That is why we are entering into a long-term agreement with a partner that is dedicated to the continuous development and evolution of fish feed ingredients and combinations, driving the sustainability transformation within raw materials for fish feed.
"This cooperation with Skretting will help to optimize fish welfare and growth conditions while keeping our environmental footprint as small as possible,” added Rasmussen.