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The Norwegian Group will coordinate, integrate, and oversee the performance of the electrical infrastructure across Samherji's facility in Reykjanes.

The UK supermarket retailer has recently added more Aquaculture Stewardship Council-certified salmon, seabass, scallops and prawns to its existing range.

The European Investment Bank financing will be channelled through Iceland’s Arion Bank to support certified marine businesses in Iceland, Greenland and the Faroe Islands.

The proposal is based on the results of capelin studies conducted by the Icelandic Marine Research Institute between January 19 and 25 this year.

Since 2016, Icelandic fishers have not directly targeted East Atlantic bluefin tuna, although tuna caught as bycatch has been recorded.

Freyr Friðriksson, founder of the seafood processing and refrigeration technology firm, is now chairman of the board, handing over to former deputy CEO Ólafur Karl Sigurðarson.