The Litus Akva team pictured with Blue Future Holding's Kristoffer Jordheim and Odd Magne Rodseth.
Photo: Litus Akva.
Blue Future Holding, a seafood investment company owned by Germany's EW Group, has become majority owner of land-based aquaculture supplier Litus Akva, the companies have announced.
The deal, agreed this week, sees the German-owned investment firm investing NOK 50 million (EUR 4.3 million / USD 4.5 million) in the Norwegian firm, which supplies innovative systems, design, and engineering services for land-based aquaculture facilities.
This latest investment sees Blue Future Holding expand its portfolio of companies in the aquaculture sector, including 100% ownership of tilapia breeding specialist GenoMar Genetics Group, aquaculture biotechnology firm Blue Analytics, and ultrasound fish diagnostics specialist Greenfox Marine, in addition to a 10% stake in Icelandic land-based salmon farmer Laxey and 5% in land-based spotted wolffish farmer Aminor.
"We have been following the development of land-based technology for some time. With their unique experience in both operating and developing land-based facilities, the team at Litus Akva has created an innovative and cost-effective concept that makes them a competitive and value-creating supplier of land-based facilities," said Kristoffer Jordheim, Investment Director at Blue Future Holding, in a press release.
"We are very pleased to have Blue Future Holding on board. With their support, we can broaden our vision and take Litus to the next level," said Kristian Steinestø, Customer Manager at Litus Akva.
Based in Straume, Vestland, Litus Akva was founded in 2020 and currently has a team of 8 employees. The company indicated that the investment will enable it to continue growing and take on larger projects in land-based aquaculture.
"With a strong industrial partner backing us, we now have the opportunity to realize the full potential of our designs and take the industry’s most efficient and sustainable solutions to new heights," the company stated.
"We live by our motto: 'By fish farmers, for fish farmers.' This is reflected in our philosophy and values, where expertise, strong collaboration with customers, and a passion for what we do drive our success," Litus Akva said.
