Kaltroco Ltd. has successfully completed the acquisition of shares from SINTEF Venture IV and other shareholders, as well as equity issuance, in order to fund the development of CFEED.
“We are very excited to have such a strong investor on board”, said Tore M. Remman, CEO of CFEED. “This investment will help us significantly expand our presence in the global market”.
The goal of this transaction is to significantly increase CFEED’s revenue, production, and global expansion in the coming years. Following the equity issuance, CFEED plans to execute its five-year growth plan, which includes increasing production capacity and further developing its technology, as well as constructing a new modern factory.
“CFEED produces high-quality feed that is easy to store, transport, and handle, and is produced in a fully closed and circular system with minimal environmental impact”, added Cornou Rykaart, CFO of Kaltroco.
“We are pleased to partner with Tore and his team to scale production and address some of the key nutritional and health challenges facing the aquaculture industry today, in order to sustainably breed healthier fish and create a higher quality end product”, he continued.
Confidence in CFEED’s solution
Grieg Kapital, the investment company of Grieg Group, invested in CFEED in 2021 and is eagerly anticipating what the future holds for the company. Grieg Kapital is looking forward to collaborating with Kaltroco Ltd. “We have a lot of faith in CFEED’s solution for sustainable land-based fish farming”, said Thomas Grieg, Investment Director at Grieg Kapital. “CFEED’s feed leads to improved survival, quality, and growth of farmed fish, as well as reduced feed and energy usage”.
Founded in 2014 as a spin-off from SINTEF Ocean, CFEED is a provider of innovative starter larval feed solutions that not only meet, but exceed optimal nutrition standards for larval rearing. In addition, CFEED’s farmed copepod eggs, known as Cpodz, are live feed available on the market.