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Management

Sludge treatment company raises $4.4 million in funds

Venture fund Momentum leads a consortium consisting of Broodstock, EGD Capital and Seagrow that will inject NOK 38 million in the sludge treatment company Blue Ocean Technology.

Sludge treatment company raises $4.4 million in funds

July 1, 2021


Venture fund Momentum leads a consortium consisting of Broodstock, EGD Capital and Seagrow that will inject NOK 38 million ($4.4 million) in Blue Ocean Technology, taking a significant position in the sludge treatment company.

“We have been following the sludge treatment segment for a long time. The combination of circular economy and aquaculture hits our strategy right in the heart. We have become acquainted with Blue Ocean Technology as a strong and innovative player with a very competent team. They enable sustainable food production based on Norway's already strong competitive advantage in aquaculture, and they do so through flexible, energy-efficient solutions with great international potential,” said Arve Janbu Fresvik from Momentum.

Blue Ocean Technology delivers a new generation of aquaculture sludge treatment systems typically applied in hatcheries and post-smolt facilities. The company recently signed a contract with Salmon Evolution which is building a large RAS salmon facility in Norway.

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