Arctic Seafarm appoints two new key executives

Arctic Seafarm, which is constructing a hybrid flow-through facility in Nesna municipality in Nordland county, Norway, has announced the appointment of two new key executives in its leadership team, both with previous experience from the renewable energy sector in Norway.

The company's new Chief Financial Officer will be Kristin Hildrum, while Rainer Kråkstad will join as Chief Business Development Officer.

In a press release announcing the appointments, Arctic Seafarm noted that both new team members bring valuable experience, with Hildrum previously holding roles in finance and strategy, most recently as director of northern Norway's leading industrial hub Mo Industripark AS and before this, general manager of hydrolectricity firm MIP Miljøkraft AS.

Meanwhile, Kråkstad, Arctic Seafarm's new CBDO, previously worked in business development in Norway's energy industry at staffing firm Otiga Group AS. He was also previously CFO at offshore wind technology company Vinde Tilkomstteknikk AS.

In October, Arctic Seafarm announced it had secured financing for the first phase of its hybrid flow-through aquaculture facility in Nesna, Nordland County. The company, whose majority owner is EMK Capital, is developing the facility in a "strategic partnership" with Kvarøy Fiskeoppdrett AS.

The facility is expected to be fully operational in 2027 with the first smolt to be introduced in 2026. In its first phase, Arctic Seafarm plans to produce around 10,000 tons of salmon and employ about 40 employees. Once fully developed, the facility will employ around 100 people in Nesna, the company said.

The company said its aim is to "produce salmon with a low climate footprint and a focus on fish welfare", with its facility powered entirely by renewable energy sources, through solar energy, hydropower, and recycled energy from the production process.