Our Story

Sustainability from day one

BioFish was established in 2016 and is based on the filosophy of circular economy and sustainable fish farming. We are a Norwegian independent producer of smolt located in Hardanger at the Norwegian west coast. Here we have almost 40 % of Norwegian fish farmers within one day of transport. In beautiful Hardanger we have access to the cleanest freshwater from the nearby lake and unlimited fresh seawater from the fjord.

Our land-based production facility consists of a hatchery, feeding station, on-growing and vaccination stations, producing smolt and post-smolt in closed-containment systems (CCS). The production facility uses a Recirculating Aquaculture System (RAS) which recycles at least 99 % of water used.

In 2021 we are finalizing new production facilities with RAS technology built to reach 2 200 tons of annual production.

Close to the Biofish facilities you find Steinsdalsfossen which is one of the most visited waterfalls in Norway.

Timeline

Background and Track Record

  • BioFish acquired an on-land fish farming facility in Ljones from Green Salars bankruptcy estate
  • Since the acquisition BioFish transformed the facility to a profitable recirculating aquaculture system (RAS)
  • NOK 12m invested to restore the old facility with new RAS technology
  • Signed land lease contract until 2054 with an option of extension to 2064
  • Granted rights to produce up to 150 tons p.a.

Produced volume: 100 tons

  • BioFish raised NOK 50m in bond financing and NOK 10m of paid-in equity from shareholders
  • Signed a five-year delivery contract with Engesund Fiskeoppdrett AS for up to 600,000 smolt p.a. until 2023

Produced volume: 100 tons

  • Finalized a new 2,000m2 production facility and the installation process of four new modern grow-out tanks reached its final stage
  • Total of NOK 130m invested in the facility after the acquisition in 2016

Produced volume: 150 tons

  • Granted a waste license for up to 2,200-tons pro annum.

Estimated production: 320 tons

  • Finalize the 2,200-tons production facility (mainly completion of the remaining two 18m x 6m tanks) in 2021 and full production facility finalized second half of 2022.
  • Working capital for building biomass over the next 2-3 years, to reach 2,200-tons p.a. of production
  • Written confirmation on license for expanding production from 1.5m to 5m smolt*
  • Signed land-lease agreement giving access to land in connection with existing facility, with the company aims to use for further expansion of production up to 10,000 ton pro annum*

Investments and growth plans

A = Existing 2,000 m2 RAS facility
B = Existing hatchery and office space

0 = Completed growth-out tanks including all water filtering, pumps and technical room for complete facility

1 = Use of proceeds: Grow-out tanks under construction, to be completed

2 = Use of proceeds: New RAS facility replacing current flow-through tanks

X = Future opportunity for expansion for facility to up to 10,000-ton p.a.

People

Management and board of directors in BioFish.

Management

Sondre Hagerup Johnsrud
CEO, BioFish Holding AS

+47 97 57 93 21
LinkedIn

Lena Hovda Aas
Operations manager, BioFish AS

+47 45 25 30 70
LinkedIn

Board of directors

Torbjørn Gjelsvik
Chairman of the Board
Torbjørn Skulstad
Board member
Jens-Julius Ramdahl Nygaard
Board member
Bent-Are Brunes Ratvik
Board member
Kjetil Grønskag
Board member
Margrethe Smith
Board member

Branding assets

Logo sets for screen and print (AI, PNG and SVG).