Independent investor increases ownership in Norwegian ozone systems company
Monday, September 19, 2022
Bluefront Equity increased to 82% its shares in Redox, an ozone and oxygen producer that develops environmentally friendly technologies. The investor already owns 52% of the company, which was acquired in May 2021, when it became the majority shareholder. Selling the shares in the transaction is Sirø Invest AS, the investment company of Redox’s business developer, Sigmund Røeggen.
Bluefront Equity is the only independent Nordic investor focused on the seafood industry. It aims to invest in supplier companies that ensure better fish health and welfare, traceability, and quality and contribute towards digitizing the sector.
“Redox is developing exactly as we and the management want it to. There is strong demand for the company’s products from the aquaculture industry. In addition, it has developed an exciting NOx-reducing technology for use in the land-based process industry. We see plenty of opportunities for the company and therefore chose to accept the opportunity to increase our ownership,” said Kjetil Haga, partner at Bluefront Equity and board member at Redox.
Redox developed an ozone system that ensures a bacteria-free production facility. Ozone is 50% more effective than chlorine, reacting 3,000 times more quickly. Furthermore, it is safer than chlorine and other antimicrobial products being more environmentally friendly. It is well suited for disinfection use in the food and marine industries. Within the aquaculture industry, it is utilized to disinfect several parts of the value chain, including land-based facilities’ water intake and equipment between different batches of fish.
Photo caption: Bluefront Equity founders and partners Kjetil Haga (left) and Simen Landmark (right).
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