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The equity raise will be used to finance design and engineering work on its aquaculture facility, which is planned to produce 6,000 tonnes of rainbow trout per year.

The building application for the modern land-based recirculating aquaculture system (RAS) is now available for public review.

"The confirmation of when Salfjord can start production is a crucial milestone for the investment decision," said the company's Chair, Jan Harald Hauvik.

The facility is designed to produce 6,000 tonnes of rainbow trout per year, using circular resource flows.

Located in the port of Gijón, Asturias, the new facility represents another step forward in the company's growth plan, which envisages a total investment of EUR 55 million.

The broodstock and juveniles raised at the 'Hollola Hatsina' facility are part of the Finnish company’s broader value chain.