SalMar has entered a strategic partnership with Aker to establish a global offshore aquaculture company.
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The new joint company, SalMar Aker Ocean will operate within offshore fish farming, including offshore and semi-offshore, combining Aker and SalMar’s industry experience, leading competence in salmon production, software, and cleantech to create the world’s most reliable and intelligent offshore farming operations with the highest requirements for fish welfare and a zero-emissions value chain ambition.
SalMar and Aker through its wholly-owned subsidiary Aker Capital AS, will eventually own 66.6 per cent and 33.4 per cent, respectively, of the joint company, SalMar Aker Ocean, which will comprise SalMar’s interests in its semi-offshore and offshore farming operations.
Aker will contribute up to NOK 1.65 billion in cash in three tranches. The company will continue the ongoing work within testing, learning, researching, and developing offshore farming operations, including through the world’s first operating offshore fish farm, Ocean Farm 1; and the technology of the innovative Smart Fish Farms to be positioned in offshore Norwegian waters, and eventually internationally.
Norway is currently at the forefront in developing this technology and industry worldwide. Ocean Farm 1 and Smart Fish Farm have both been developed with a unique interdisciplinary partnership between SalMar – building on more than 30 years of experience - and world-leading players in Norway within aquaculture, offshore and R&D.
Olav Andreas Ervik will head the company as CEO and the board will consist of six members, including Gustav Witzøe, Atle Eide, Kjell Inge Røkke and Øyvind Eriksen.
To further accelerate growth, the parties will immediately initiate a project to develop a next-generation semi offshore unit, with an aim at reaching an investment decision for a new production unit as soon as possible.
The establishment of the joint company is subject to customary closing conditions, and closing is expected in Q1 2022. The parties aim for listing of SalMar Aker Ocean on a relevant stock exchange within one to two years’ time. ■