From left, Jacob Palmer Meland (Lovundlaks), Olav-Andreas Ervik (Utror), Bjørn Audun Risøy (MOMEK), and Roger Skatland (MOMEK) during the press conference announcing the arrival of the new shareholders.
Photo: Andreas Lie / Utror.
Coinciding with the Norwegian government's decision to open three maritime areas for the development of the offshore aquaculture sector in Norway, the Norwegian fish farming company Utror has announced the addition of three new co-owners to its shareholder base.
"We at Utror are proud to welcome MOMEK Group, together with Selsøyvik Havbruk and Ellingflesa Holding, to the team as new owners through a share issue of 25 million kroner," the company posted on LinkedIn.
Furthermore, in a joint press release with MOMEK Group, it was highlighted that this investment marks "an important step in connecting Helgeland's industrial core to what is referred to as Norway's next major industrial venture."
Based in Mo i Rana, located in the Norwegian region of Helgeland, where Utror is also set, MOMEK has been a key supplier to the process industry, mining industry, aquaculture, renewable energy, construction, oil and gas, and other industries in the region for decades.
By now turning its attention to a new emerging sector such as offshore aquaculture, the industrial group intends to continue investing in the development of this region of northern Norway.
"We at MOMEK believe in Utror and the people there, and we want to actively contribute to creating new future-oriented jobs and value for Helgeland and Norway," said its head of investments, communication, and society, Bjørn Audun Risøy.
"Offshore aquaculture is a new industry that will require the same type of execution ability and technological expertise that we have built up, among other places, in the oil and gas industry. For us, this is about using our capacity and our employees to take part in the next major industrial venture in Helgeland," Roger Skatland, CEO of MOMEK Group, stated.
"We see a unique opportunity to unite aquaculture and industry. We want offshore aquaculture to create jobs, ripple effects, and technological development here in Helgeland," said, for his part, Jacob Palmer Meland, owner and CEO of Lovundlaks and promoter of Utror, commenting on the arrival of the new co-owners.
The joint release from Utror and MOMEK highlighted that, according to a recent analysis by Oslo Economics, offshore aquaculture at Trænabanken - a location off the coast of Helgeland - could alone provide an annual production of 450,000 tons of salmon and trigger investments of NOK 45 billion by 2040.
"With new owners on board, Utror is well equipped and positioned for the competition for offshore aquaculture licenses at Trænabanken in 2026," emphasized the CEO of Utror, Olav-Andreas Ervik.
"The fact that MOMEK chooses to invest in us shows that offshore aquaculture also represents major opportunities for the supplier industry," he continued. "With strong industrial capacity, relevant expertise, and a clear will to build the industry of the future, they significantly strengthen our foundation. Together with the investment from Selsøyvik and Ellingflesa, we are now even better equipped to realize offshore aquaculture from Helgeland," Ervik concluded.