News & Views
Cargill invests in Salmon Evolution with new agreement
October 15, 2021 By Hatchery International Staff
Land-based salmon farming company, Salmon Evolution, has entered a partnership agreement with Cargill, which consists of an investment and aquafeed supply contract.
With this new partnership, Cargill will invest approximately US $5million (EUR €4.3 million) in the Romsdal, Norway-headquartered company through a private placement of new shares, which will have a subscription price of US $0.19 (EUR €0.78, NOK kr 7.71) per share.
The proceeds from the private placement will be used for general corporate purposes including evaluation and development of future expansion opportunities. Through the private placement, Salmon Evolution will issue 5,541,374 new shares, which will be subscribed for by Cargill’s Norwegian subsidiary Ewos AS.
Through this agreement, Cargill is also committed to providing resources and capacities in research and development, to assist in the development of sustainable feed solutions, tailored to Salmon Evolution’s operational targets of high biological performance and high-quality product.
Salmon Evolution’s Indre Harøy farm is scheduled to commence production in March 2022, and once fully complete in 2027 or 2028, will have an annual capacity of 31,500 metric tons (MT) of Atlantic salmon.
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