Arctic Seafarm AS (“Artic Seafarm”) today announces plans to build a land-based aquaculture facility in partnership with Kvarøy Fiskeoppdrett AS and its new majority owner, EMK Capital.
Arctic Seafarm has secured financing for the first phase of the land-based aquaculture facility in Helgeland, Nordland County. With immediate proximity to the sea and well-established infrastructure, the facility is strategically placed at Langsetvågen in the Nesna municipality. The concession for 15,000 tons MAB (Maximum Allowed Biomass) can produce up to 25,000 tons of salmon. In the first phase, the facility plans to produce c.10,000 tons of salmon (8,000 tons HOG) and employ about 40 employees. Fully developed, the facility will employ around 100 people in Nesna.
Artic Seafarm will produce salmon with a low climate footprint and a focus on fish welfare. As the global demand for protein increases rapidly, food production must not compromise animal welfare and climate considerations. The company will therefore produce fish on land using a hybrid flow-through system, protecting the fish from sea lice, the external environment, and safeguard against escapes.
The facility will be powered by solar energy, hydropower, and recycled energy from the production process. The facility is expected to be fully operational in 2027 with the first smolt will be introduced in 2026.
Magnus Kibsgaard, CEO of Artic Seafarm commented: “Arctic Seafarm was founded with the goal of farming salmon in a more sustainable way than traditional aquaculture does today. This applies to fish welfare and minimising our impact on the climate and environment. We have a strategic partnership with Kvarøy Fiskeoppdrett, a local fish farmer on the Helgeland coast. They are the world’s most certified fish farmer and together we will supply the global market with 8 000 tons of salmon annually.”
High Technology Standards
Building a land-based aquaculture facility requires the best technology. We have therefore decided to partner with Eyvi AS, Totalbetong AS, and Johs. J. Sylteren AS, who are responsible for delivering a turnkey facility and have worked with Arctic Seafarm for several years in detailed planning.
“The solutions are highly energy-efficient, they are designed with fish welfare in mind, and we are also facilitating a good working environment for those who will operate the facility. We are proud of the result and the excellent solutions we have developed together with Totalbetong and Arctic Seafarm,” says Kjetil Isaksen, CEO of Eyvi”.
Johs. J. Sylteren is responsible for all groundwork to prepare the site for construction. Eyvi and Totalbetong are delivering a hybrid flow-through system where water is pumped from the sea for filtration and disinfection before entering the facility. This eliminates the risk of disease and sea lice providing the fish a much better quality of life. The facility will only use solar and hydropower, and turbines will generate electricity when clean water is returned to the sea.
“We have set very high standards, both in terms of sustainability and fish health and welfare. Eyvi and Totalbetong have delivered on this and more. The groundwork is already underway, and we look forward to realising the project,” says Magnus Kibsgaard.
New Majority Shareholder
The final piece of the puzzle fell into place when the private equity fund EMK Capital became the majority shareholder in Arctic Seafarm AS. Kibsgaard is very pleased to have EMK Capital on board who will bring professionalism and expertise to the company.
“I would also like to highlight Kvarøy Fiskeoppdrett. Since they joined the project, they have contributed their knowledge of salmon farming, which spans 48 years and is one of the keys to the success of this project. I would also like to thank Bjørn Pedersen, who initiated the idea and set everything in motion. Lastly, we would also like to thank the municipality, led by the mayor and her administration who has consistently shown great support for the project”.
ABG Sundal Collier ASA and SpareBank 1 Markets AS acted as financial advisors to Arctic Seafarm in the transaction.
EMK Capital
EMK Capital is a growth-focused private equity investor, with an exceptional track record of investing in European and international mid-market businesses. EMK invests in opportunities where there is unrecognised and/ or hard to realise value, identified through extensive work on sub sector theses, and where EMK can partner with outstanding management teams in executing transformative change.
EMK operates from Amsterdam, Frankfurt, London, Madrid, Milan, Mumbai, Munich, New York, Paris and Singapore.
Kvarøy Fiskeoppdrett AS
Kvarøy Fiskeoppdrett was established in 1976 and is one of the few family-owned fish farming companies in Norway. Today, the company has grown into a group with headquarters on Indre Kvarøy, Helgeland. The group employs over 80 people and covers areas such as smolt production, food fish production, logistics, sales, and service vessel services. Kvarøy is known for its focus on innovation, sustainability, and environmental certifications. Their primary market for salmon sales is in the U.S., where the fish is sold, among other places, to the renowned Whole Foods Market.
Eyvi AS
Eyvi is the leading supplier of seawater flow-through/reuse systems and freshwater-based RAS technology. Whether flow-through or RAS, Eyvi offers turnkey solutions, including development, full design/engineering services, and project execution. With a strong focus on animal welfare, Eyvi delivers solutions for healthy food production with a positive impact on the planet. With over 80 years of combined aquaculture experience, Eyvi’s staff have contributed to the design and delivery of 24 production facilities, including 62 RAS units, the latest of which is the world’s largest
Totalbetong
Totalbetong is a national player in the construction industry, specializing in land-based aquaculture facilities and with extensive experience in various types of projects. Since 2011, the company has completed over 250 projects across Norway. With a focus on technology and innovation, Totalbetong continually adopts new solutions to build efficient and forward-looking aquaculture facilities. The company has its own concrete production, the highest-class approval (T3), and a strong focus on HSE and sustainability. The headquarters is in Bryne, with an aquaculture competence center in Bodø.
For more information:
Magnus Kibsgaard, CEO – Arctic Seafarm AS
Mobile: +47 90 16 88 32, Email: [email protected]
Alf Gøran Knutsen, General Manager – Kvarøy Fiskeoppdrett AS
Mobile: +47 970 73 532, Email: [email protected]
For EMK Capital: Greenbrook
[email protected]