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The acquisition represents a new step in the Norwegian fish farmer's continued development as a leading and fully integrated producer of farmed cod.

The venture of land-based aquaculture pioneers Ohad Maiman and Thue Holm adds these funds to those already obtained to start importing and acclimatizing broodstock.

Following positive results from the first production cycle, Ode will now roll out submersible cages to two additional sites during the spring.

According to the Portuguese company, WINCod tackles key challenges in cod hatcheries such as high mortality, skeletal deformities, and inconsistent juvenile quality.

For the first time for a cod farmer, Ode achieved this important milestone with a total production of 10,018 tons.

The Australian aquaculture company specializes in the farming, processing, and commercialization of Murray cod, one of Australia's most iconic freshwater species.