Blue Ocean Technology raises growth capital from competent investor consortium led by Momentum

Venture fund Momentum joins a number of high-profile partners in investing in the sludge treatment company Blue Ocean Technology.

Momentum II leads a consortium consisting of Broodstock, EGD Capital and Seagrow that will take a significant position in Blue Ocean Technology.

Image credit: Blue Ocean Technology

'We have been following the sludge treatment segment for a long time. The combination of circular economy and aquaculture hits our strategy right at the heart. We have become acquainted with Blue Ocean Technology as a strong and innovative player with a highly 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," says Arve Janbu Fresvik at Momentum.

'They have gained a strong foothold in the Norwegian market, which is a prerequisite for international success. The world is looking to Norway when it comes to aquaculture technology and the first international sale is secured through American Aquafarms. We look forward to further developing the international initiative through active ownership in Blue Ocean Technology. The total investment amounts to MNOK 38, divided by new growth capital and share purchases.'

'Blue Ocean Technology has had a strong and rapid development in recent years. We have gone from simple solutions, to complete Plug-and-Farm systems that attract interest both nationally and internationally. In order to move forward, we have been selective in seeking competent capital to build on. We now get this through the strong consortium led by Momentum," says Jan Henning Legreid, from Blue Ocean Technology.

Blue Ocean Technology develops its own technology adapted to the residual products that fish farms produce and has several solutions that are adapted to the individual farmer's needs, both on land and at sea.

Lower energy consumption combined with increased efficiency in processing provides good competitiveness. A great emphasis is placed on reliability with predictive machine monitoring. The software is developed in collaboration with Schneider Electric. Blue Ocean Technology has an exclusive collaboration with Schneider worldwide in sludge and water treatment.

The company has taken a leading position in sustainable solutions for sludge and water treatment in closed fish farms in Norway and internationally with agreements with leading players such as American Aquafarms and Salmon Evolution.

For more information visit the Blue Ocean Technology website, HERE.

The Aquaculturists

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