NOK 162 million capital raise and further strengthening of Columbi Salmon's shareholder base

September 3, 2021

Columbi Salmon has successfully completed a capital raise of NOK 162 million in which, among others, Ferd AS, the Refsnes family, and Kverva Finans AS have participated. The capital raise is the next step on the company’s journey to become EU’s leading sustainable onshore salmon farming company.

The investment round was conducted during the third quarter of 2021. In addition to Ferd and the Refsnes family, Kverva participated in the capital raise. Kverva’s participation strengthens and supports the industrial collaboration between the Witzøe and Refsnes families following SalMar’s purchase of 45% of the shares in Refsnes Laks. The Refsnes family is still the largest shareholder of Columbi Salmon after the capital raise with 43% of the total shares. In total, the company has raised NOK 482 million over the past nine months.

– We’re very proud to have some of the world’s leading private aquaculture investors as our owners. The Refsnes family’s 103-year-old industrial experience has been crucial in the start-up phase. The capital raise is an important step towards the realisation of our first facility in Belgium. The facility and the associated local ecosystem will position Columbi Salmon as EU’s most sustainable aquaculture company, says Anders Hagen, CEO of Columbi Salmon.

Building the world’s most sustainable large-scale facility in Belgium

Columbi Salmon’s ambition is to become Europe’s leading onshore sustainable salmon farming company, and initially, the company is building a facility in Ostend, Belgium. The facility can produce 12.000 to 15.000 tonnes of salmon each year. In addition to fish, the facility will produce vegetables and lettuce based on waste from fish production.

– At full speed, we’ve started developing the facility in Ostend, which will be the world’s most advanced, safe, and sustainable facility. Our driving force is to build both more efficiently and sustainably than anyone has ever seen before. Hence, our production will be both profitable, with low emissions and good animal welfare, says Hagen.

The facility is just over an hour’s drive from Boulogne-sur-Mer in France, an epicenter of seafood in Europe. From here, you can reach large parts of the total market for salmon in Europe in a short time. The proximity to consumers is one of the main reasons for developing the facility in Belgium.

En route to listing

Columbi Salmon aims to have the company’s shares listed on a suitable marketplace and to establish more facilities in Europe.

– We’ve long communicated that we’ll go public sometime in the future. However, we’re not in a hurry, and with this capital raise, we’ll be on the right track towards realising the facility in Belgium. Quality is important in everything we do, and although we’re impatient, out thinking is very long-term, says Hagen.