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The latest funding round sees Iceland’s three largest pension funds join as shareholders in the salmon farming company.

Statistics Iceland attributes the drop in overall export volume to reduced capelin catches.

Alexandra Leeper will take up this position in the Icelandic investment fund targeting blue economy startups, Blue Nova Ventures.

The aquaculture technology firm has brought in Magnus Thor Asgeirsson as MD of its Icelandic business, and has also announced new business development and sales manager appointments.

This year, a total of ISK 465 million (EUR 3.2 million - USD 3.6 million) has been allocated for fifteen projects in seven municipalities.

The Icelandic company's operational recovery, which began last year, continues, and the Group's refinancing process is nearing completion.