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One of the project's main aspects has been to reuse Nova Sea's existing conventional cages to convert them into submersible cages.

Tom Eirik Aasjord stressed his decision is independent of the ongoing process in the company after Mowi took majority ownership.

The transaction, valued at NOK 7.4 billion (EUR 625 million), sees Mowi increase its ownership of Nova Sea from 49% to 95%.

As Communications and Public Affairs Director, Daniel Bjarmann-Simonsen will be key when the expected debate on the regulatory framework for aquaculture in Norway begins.

Almost half of the amount demanded by the Norwegian tax authorities from Nova Sea is related to the ground rent tax.

Nova Sea will help build the closed farming system FishGlobe 30K, which is ten times larger than its predecessor.