AquaBioTech Group and Bluefront Equity entered into a letter of intent whereby Bluefront Equity will acquire a significant stake in the company through a combination of purchase of shares and new capital to accelerate the growth. The planned investment by Bluefront Equity will enable AquaBioTech Group to continue to rapidly develop its international expansion plans, including the opening of a major office in Norway and Singapore.
AquaBioTech Group consists of three main divisions. The first is an aquaculture, fisheries and marine environment consulting, advisory and training company with offices in five countries serving hundreds of international clients.
The second is the Contract Research Organisation (CRO) division, which has grown to become one of the largest licensed aquatic CRO facilities in the European Union with more than fifty research RAS units in operation. The facility is used by all of the major nutraceutical and aquatic nutrition companies for the testing, development and certification of aquatic vaccines and shrimp and fish feeds.
The third division is an engineering and development company focused on the turnkey supply of Recirculation Aquaculture Systems (RAS) for commercial and research purposes that are designed for a variety of fish and shrimp species, including salmon hatcheries, nurseries and grow-out facilities.
Headquartered on the island of Malta the company was established in 1996 and has more than 100 staff recruited from over twenty-five countries and clients and projects in more than fifty-five countries.
Bluefront Equity is an Oslo based pure-play seafood investment fund created by Kjetil Haga and Simen Landmark in 2020. The core team consists of former MOWI CEO, Alf Helge Aarskog, Nova Sea chairwomen, Aino Olaisen and former BioMar executive, Jan Sverre Røsstad, in addition to the abovementioned founding partners. The fund made its first investment to become majority owner of Norwegian technology company, Redox AS.