Aqua energy company seeks partner

Norwegian aquaculture-related energy company Fjord Maritime is looking for a “strategic partner” to expand both at home and on the international stage.

Fjord Maritime, which is a supplier of sustainable energy solutions to the industry, said it is conducting a capital expansion to strengthen its position nationally and internationally.

The current owners and shareholders have decided to search for strategic growth capital and new partners.

CEO Vidar Rabben said: “We aim to drive the green revolution within the maritime and aquaculture sectors. It is ambitious, but the need is there.

“Therefore, we must gain access to strategic capital and new partners who can help escalate growth in the coming years.”

Established eight years ago, Fjord Maritime has grown considerably since then and had a turnover of NOK 180 million (around £13.4m) in 2022.

When it launched in 2016 it had a staff of three. The workforce now numbers 50.

The company is now established in Chile, Great Britain, the Netherlands, Canada, along with Norway.

The founders , Øyvind Bakke, Stig Kalvenes, and Vidar Rabben, both see a bright future for the company, which will contribute to the industry reaching its climate goals.

They said in a joint statement: “With our complementary background and over 40 years of experience in the aquaculture industry, we can quickly familiarise ourselves with customers’ situations and deliver the best solutions in close cooperation with industry players.

“Our most important role is to support the industry with excellent and forward-looking solutions to jointly reduce emissions and, not least, to reach the industry’s goal of zero emissions by 2050.

“After several inquiries, we have decided to engage DNB Markets as an adviser to help us with a strategic review.”

Fjord Maritime says it also sees opportunities to transfer its sustainable energy solutions to land-based industries and businesses nationally and globally.

Fjord Energy kit on Cermaq feed barge