Danish RAS supplier Billund Aquaculture has announced the company’s closure due to financial challenges. Chairman Jon Refsnes expressed deep regret to the company’s customers and employees, emphasizing that there were no other options in a press release.

The company’s finances were adversely affected by the pandemic and the Ukraine war. Despite significant changes in project and risk management over the past two years, these efforts were not enough to secure the necessary capital for continued operations.

“The company had good operations over the past year. However, challenges from previous operations made it difficult to secure sufficient capital,” said managing director Kristoffer Lund.

“Based on this, the board has concluded that there is no basis for further operation,” said Refsnes. “Efforts will now be made to find the best possible solutions for all our employees, customers, and creditors.”