Andfjord Salmon Group said it has entered into a strategic post-smolt partnership with Eidsfjord Sjøfarm, which has committed to invest NOK 100 million (€9.10 million) in the land-based salmon farming company through a private placement.
The announcement was made in a stock exchange filing on Monday.
The partnership includes significant deliveries of post-smolt from Andfjord Salmon to Eidsfjord Sjøfarm in 2026 and 2027.
Andfjord Salmon also said the agreement secures smolt purchases from the company and includes a processing agreement with Holmøy Havbruk to provide slaughter capacity if required.
Separately, Andfjord Salmon has launched a directed share issue seeking gross proceeds of at least NOK 300 million (€27.30 million).
The company said the subscription price has been set at NOK 27.50 (€2.50) per share.
Bookrunners for the transaction are Arctic Securities, DNB Carnegie, Nordea Bank and SB1 Markets.
Net proceeds from the placement will be used to advance construction at Kvalnes and support the company’s target of reaching 17,000 tonnes of production capacity, as well as for general corporate purposes.
Andfjord Salmon Group AS is developing a land-based salmon farming facility at Kvalnes on Andøya and is listed on Euronext Growth.