Land-based facilities and equipment to blue chip salmon farmers
Nofitech at a glance
Nofitech provides land-based facilities and equipment to blue-chip salmon farmers. Its primary offering today is a recirculating aquaculture system (“RAS”), ModulRAS, which allows fish farmers to move parts of the fish’s growth cycle onto land, and offers facilities for the final growth stage, providing fish farmers with the option to locate all production on land.
- Year acquired
- 2021
- Revenue
- EUR 55m
- Location
- Norway
- Employees
- 98
- Website
- https://nofitech.com/
- Investment theme
- Sustainable Food
- Contact
- sebastian.sunde@summaequity.com
- SDG alignement
2, 12, 14
What are the challenges Nofitech addresses
-
60%
estimated increase in food production needed between 2010 and 2050 to feed a growing population
-
50%
emission reduction potential in moving from traditional net-pen farming to land-based systems
How does Nofitech help?
-
Reality today
Traditional aquaculture at sea has certain negative impact on life below water, both on the marine habitat and the fish themselves (e.g., disease and lice), and this is regulated by quotas that limits the organic growth in sea-based farming.
-
Nofitech approach
Nofitech moves parts of, or the entire, growth cycle of fish farming onto land, reducing the pressures from sea-based farming on the ecosystem and enabling fish farmers to increase overall production.
-
Aspirational future
An efficient and sustainable aquaculture system that supports consumers with access to more sustainable proteins.
-
Who is impacted?
Salmon farmers in the North Sea Basin gain access to a more environmentally friendly production system. The compact and modular facilities improve resource use and can better protect ocean biodiversity by reducing habitat impact and potential pollution.
-
Contribution
Nofitech’s land-based systems provide a cost-effective method for growing post-smolt. More importantly, this approach eliminates the environmental damage to oceans caused by traditional salmon farming, offering a more sustainable advantage.
-
Risks to impact
While RAS systems have benefits to the marine environment, potential risks to consider involve their impact on local biodiversity and water resources, logistical challenges, regulatory uncertainties, economic viability, and infrastructure demands.