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Following a transfer completed on 26 June, Coral HoldCo came to own 22,799,132 shares in the Norwegian company.

The programme's results helped establish long-term measures to ensure the sustainable exploitation of red coral.

The Schiller Center for Reef Solutions will support long-term research and new technologies aimed at protecting coral reefs worldwide.

"This initiative demonstrates the powerful synergy between sustainable aquaculture and marine conservation," says CEO Dick Jones.

The aim is to reduce the adverse effects of climate change on coral reefs. It will be located on Praslin Island, Seychelles' second-largest island.

FHF and the Institute of Marine Research are involved in a project to improve site selection, monitor existing farms, and support technologies that reduce seabed impact.