We strategically decided to focus heavily on exporting our technology due to the challenging conditions for commercialization in Norway due to regulations and taxes, says Tor Hellestøl, CEO at FishGLOBE.
Spring 2024 marks the commercial breakthrough for FishGLOBE with contracts worth over NOK 500 million. The company’s patented, floating, closed aquaculture systems in sizes 3.5K, 10K, and 30K will be delivered to well-known, yet currently confidential, customers in 2025 and 2026.
FishGLOBE has worked diligently for several years to export its globes to various markets and has recently secured a contract for deliveries to an international customer. “We strategically decided to focus heavily on exporting our technology due to the challenging conditions for commercialization in Norway, such as regulations and taxes. I commend our team for enduring a challenging period,” says Tor Hellestøl, CEO at FishGLOBE.
The company’s 30K project, the largest globe at 30,000 m³, has been sold and will now be constructed and delivered to Nova Sea. The agreement also includes two development licenses previously granted to FishGLOBE by the Norwegian Directorate of Fisheries. The sale of these development licenses has enabled the deal, as they hold significant paper value when converted to traditional aquaculture permits after the project’s completion. “We are, of course, proud and very pleased that it is Nova Sea, a well-run Norwegian family-owned company, that will now realize this project. Nova Sea legitimizes floating closed aquaculture as a complementary method for increasing sustainable salmon production in Norwegian waters,” says Petter Aanonsen, Investment Director at Valinor.
This announcement comes shortly after FishGLOBE won the Special Prize in Norway’s Smartest Industrial Company 2024, recognizing new sustainable and technological innovations that control water quality and protect fish.