Nofitech

Building the global enabler for land-based fish farming

Company details

Year Aquired

2021

Location

Trondheim, Norway

Revenue (2020)

221mNOK

Sector

Aquaculture: Land-based fish farming services and equipment

Employees

20+

Investment Themes

Resource Efficiency

Contact

If you want to know more about Nofitech please contact Martin Gjølme at: martin.gjolme@summaequity.com

Nofitech at a glance

Nofitech provides land-based facilities and equipment to blue chip salmon farmers. It’s primary offering today is a recirculating aquaculture system (“RAS”) which allows fish farmers to move parts of the fish’ growth cycle on to land, where it grows up to 1 kg before being set out to sea to complete the final growth stage. Nofitech also offers facilities for the final growth stage, providing fish farmers with the option to locate all production on land.

With licenses and regulations there are few available options to ramp up sustainable production of fish. Nofitech’s land-based facilities enables its customers to increase the utilization of its licenses in a sustainable manner given the compact, standardized, and modular nature of its facilities.

Quality assurance is a key element in succeeding in the fish farming industry. Nofitech is 9001 certified, and all RAS facilities delivered are also approved in accordance with NS 9416.

 

Recent developments

Nofitech is experiencing significant growth and momentum. Continued growth in land-based investments, strong customer interest and new orders, and the acquisition of equipment providers CM Aqua Technologies and Ratz Aqua & Polymer Technik drove a >200% growth in revenues between 2019 and 2020.

Impact Dimensions

The challenges we face

The world already sees the severe consequences of climate changes on our planet’s diversity of life. Sustainable food production is needed for a growing and aging population, as many regions and countries already suffer from high food insecurity. A sustainable industry will offer opportunities to reduce hunger and improve nutrition while giving the farmers the best resources to succeed. Nofitech exists to help the aquaculture industry be part of the solution-set by enabling the industry to grow in a sustainable way.

What is the outcome?

Nofitech offers a closed and environmentally friendly production system, which utilizes the water sources better than traditional flow-through and re-use facilities. Small quantities of water out of the systems also gives significantly less environmental footprint. Feed residues and feces are filtered out of the water and taken care of and further processed for example to fertilizer and energy. Nofitech is constantly working to develop ever better solutions for the sustainable use of all waste streams from the systems.

 

Who are the stakeholders?

Nofitech’s core market is the North Sea Basin, serving salmon farmers. Nofitech is one of the leading suppliers of cost-effective and best performing RAS solutions and has become a turnkey provider, landing contracts with large seafood companies.

 

How big is the effect, and does it last?

The aquaculture industry is vital for solving global challenges like SDG #2 and #14, and as for the solutions, shifting to a sustainable diet while increasing resource efficiency in production and consumption is seen as an appropriate and important sustainable approach to enable land-based aquaculture. 

 

If Nofitech didn’t exist…

Without Nofitech, farmers within the aquaculture industry would not have the opportunity to grow post-smolt at a cost-effective and affordable price. Nofitech continues to drive the industry towards innovation and technology improvements – and the effort leads the entire industry against a more sustainable future.

 

Impact risk: what can go wrong

Recirculating aquaculture systems (RAS) are complex systems with high densities of fish that have a high economic value. Water chemistry, fish health, and microbiology must be carefully taken care of for optimal production. There are significant consequences for losses, as the fish cannot be replaced in the production plan. Via the Nofitech Academy, operating staff receives training to ensure that all operating personnel understands the process and production. In addition, the company is developing new tools to support efficient and safe production in its RAS facilities.

Year Aquired

2021

Revenue (2020)

221mNOK

Employees

20

Investment Themes

Resource Efficiency

Sector

Aquaculture: Land-based fish farming services and equipment

Location

Trondheim, Norway

Contact

If you want to know more about Nofitech please contact Martin Gjølme at: martin.gjolme@summaequity.com

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