Novo Holdings buys into lice laser company
Life sciences company Novo Holdings is to take a majority stake in aquaculture technology company Stingray Marine Solutions.
Based in Oslo, Stingray specialises in intelligent aquaculture technology serving the salmon industry and has developed a laser-based system to kill sea lice.
Stingray first launched its lice laser 10 years ago. The company has grown in a business with 200 employees and a NOK one billion (£71m) turnover. Its lasers are now used by more than 30 companies.
The company’s product, the Stingray system, utilises a combination of camera vision, advanced proprietary software, and laser technology to remove sea lice from salmon.
John Arne Breivik, CEO of Stingray Marine Solutions, said: “This marks a milestone in our company history as we welcome Novo Holdings to the owner group.
“With a passionate interest in sustainability and biology, we are confident that Stingray will thrive and grow under Novo Holdings’ ownership, and we are excited to collaboratively deliver on our mission to develop and offer intelligent aquaculture technology that contributes to increased food production on nature’s own terms.”
Cynthia Kueppers, Partner, Planetary Health Investments, Novo Holdings, added: “We’re pleased to invest in a company that not only offers an innovative aquamarine technology solution to address industry needs but also places sustainability at the forefront of its approach – a pressing factor in the marine and aquaculture industries.”
