Håkon Andrè Berg, left, becomes acting chief executive after Odd Tore Finnøy, right, resigned. Photo: Salmon Evolution.

Fundraise triggers change at the top for Salmon Evolution

Salmon Evolution, which is developing a 36,000-tonne on-land salmon farm in Norway, has announced an executive reshuffle following a move by Sølvtrans chief Roger Halsebakk to become its largest shareholder.

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The company has appointed Tore Tønseth as its new chair. Tønseth is investment vice president of Ronja Capital, an investment company wholly owned by Halsebakk, founder of Sølvtrans, the world’s biggest wellboat company.

Ronja Capital was the major investor in a recent fundraising round by Salmon Evolution and owns 19.6% of the company.

Chief financial officer Håkon Andrè Berg becomes acting chief executive after Odd Tore Finnøy, who has led the company up to the start of construction, opted to resign in consultation with the board.

Tore Tonseth: Farm has lower risk profile than other projects.

‘A very good concept’

“I’m enthusiastic at taking over as chair and to acquiring the opportunity to get involved in the further development of a very good concept in collaboration with the rest of the board and the management of Salmon Evolution,” said Tønseth in a press release.

“Kicking off the construction project and further financing of this stage represent one of the big milestones in the time ahead.”

Because conventional aquaculture faces biological restrictions, land-based fish farming will play a key role in the future, said Tønseth.

‘Unique approach’

“Salmon Evolution has a unique approach to such production, and we believe it has a clearly lower risk profile than many other projects.”

In addition to Tønseth, Peder Stette, Frode Kjølås and Glen Bradley – vice-president of another large wellboat company, Rostein - were re-elected as directors, while former chair Kristofer Reiten was also elected to serve as a director.