Nofitech

Company details

Year Aquired

2021

Location

Trondheim, Norway

Revenue (2021)

509 mSEK

Sector

Aquaculture: Land-based fish farming services and equipment

Employees

92+

Investment Themes

Resource Efficiency

Contact

If you want to know more about Nofitech please contact Sebastian Greve Sunde at: sebastian.sunde@summaequity.com

Nofitech at a glance

Nofitech provides land-based facilities and equipment to blue chip salmon farmers. Its primary offering today is a recirculating aqua- culture system (“RAS”), ModulRAS, which allows fish farmers to move parts of the fish’ growth cycle onto land, and also offers facilities for the final growth stage, providing fish farmers with the option to locate all production on land. There are currently 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.


Key developments in 2021

Nofitech continues to experience significant growth and momentum across its facilities and equipment business, CM Aqua Technologies and Ratz Aqua & Polymer. This is coming on the back of sustained growth in land-based investments from blue chip salmon farmers as well as continued trust from its marquee clients. This resulted in more than tripling of revenues between 2019 and 2020 and doubling of revenues between 2020 and 2021.

Impact Dimensions

The challenges we face

Sustainable food production is needed for a growing and aging population, as many regions and countries already suffer from high food insecurity. Additionally, 31% of GHG emissions originate from the world’s food systems1 and agricultural emissions are estimated to triple by 2050 without productivity gains.

%
est. increase in food production between 2010 and 2050 to feed a growing population.
%
lower GHG emissions per kg from Salmon production relative to emissions from beef.

What is the outcome?

Nofitech offers a closed and environmentally friendly production system, which utilizes the water sources better than traditional flo through and re-use facilities. Small quantities of water out of the systems also yield a significantly reduced environmental footprint.


Who are the stakeholders?

The main stakeholders are salmon farmers in the North Sea Basin who benefit from Nofitech's ModulRAS facilities.


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 towards 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. There are significant consequences for losses, as the fish cannot be replaced in the production plan.

Year Aquired

2021

Revenue (2021)

509 mSEK

Employees

92

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 Sebastian Greve Sunde at: sebastian.sunde@summaequity.com

Website

Video

SDG Alignment
SDG Wheel
SDG 2
SDG 14
KPI reporting
SDG 8

REVENUE (SEKm)

2021
+125%
509
2020
324
2019
189