CFEED attracts new investor
Kaltroco completed the purchase of shares from SINTEF Venture IV and other shareholders, and together with an equity issuance, will help the company expand in global markets.
An international investment company, Kaltroco Ltd., has completed the purchase of shares from SINTEF Venture IV and other shareholders, together with an equity issuance to secure CFEED’s development. The goal is to significantly increase revenue, production, and global growth in the coming years.
After an equity issuance, the copepod producer CFEED aims to realize the plans laid out for the next five years. This includes increased production capacity and further development of its technology, in addition to starting the construction of a new modern factory.
“We are very pleased to have such a strong investor involved. This event strengthens our ability to significantly expand in the global market,” said Tore M. Remman, CFEED’s CEO. “CFEED produces high-quality feed, that is easy to store, transport and handle before being introduced into the breeding process in its natural form. This is achieved in a fully closed and circular system with minimal environmental impact. We are pleased to partner with Tore and his team to scale production and address some of the core nutritional and health challenges faced by the aquaculture industry today, to sustainably breed healthier fish populations leading to a higher quality end-product,” said Cornou Rykaart, CFO in Kaltroco.
Kaltroco Ltd. has long experience in building and scaling businesses, which will be useful in the further development of CFEED. With this new ownership, CFEED’s technology will be upscaled in the Norwegian and international markets.
Grieg Group's investment company, Grieg Kapital, invested in CFEED in 2021 and today they look forward to seeing what the future brings and working together with Kaltroco Ltd. “We have great faith in solutions that ensure sustainable land-based fish farming. CFEED’s feed ensures better-farmed fish survival, quality, and growth. This leads to less feed and energy use,” explained Thomas Grieg, investment director at Grieg Kapital.