IS Haf takes majority share in new land-based salmon farm

by
Editorial staff

The largest investors in the fund are fishing companies Brim and UR Seafood.

Icelandic investment vehicle IS Haf has cemented a deal granting it a 53 percent stake in land-based salmon farmer Landeldi’s latest project.

This venture will see the partnership of seasoned Norwegian salmon farming investors, headlined by Seaborn executives Frank Yri and Alex Vassbotten.

Thor Landeldi’s latest project is slated for a 20.3 hectare location at Laxabraut, west of Thorlákshöfn.

Funds from the new capital injection are earmarked for the construction of the project’s first hatchery phase. The first salmon eggs are scheduled to be delivered in the autumn of 2024.

Leading the project is a trinity of industry veterans: Jónatan Þórðarson, Þórður Þórðarson, and Halldór Ragnar Gíslason.

“Smolt production is crucial for the successful expansion of salmon farming,” remarked Kristrún Auður Viðarsdóttir, CEO of IS Haf Investments. The firm’s entry into this venture is heralded as a significant move for the rapidly expanding industry.

IS Haf Investments was established in February 2023 and is operated by Iceland Funds (Islandssjodir). The ISK 10 billion (€70 million) fund invests in seafood and ocean-related activities on a broad basis.

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