UK fund JLEN Environmental Assets is investing approximately £40m (USD 48.6 million) over the next three-four years in Norwegian trout farmer, Hima Seafood. 

The project consists of a land-based aquaculture facility to be built in Rjukan, Norway and will use established recirculating aquaculture system technology. It is expected that partial operations will commence in 2024 with full operations expected in 2025, following which, the facility is forecasted to produce approximately 8,000 tonnes of trout annually. 

Richard Ramsay, Senior Independent Director of JLEN, said, “we are pleased to make our first investment into land-based aquaculture, contributing to the sustainable supply of trout to meet rising consumer demand. We consider that this investment will deliver environmental benefits to the food system and offer a product to suit today's consumer needs.”

Hima Seafood recently partnered with Green Mountain to reuse waste heat from the data center in its land-based trout farm.