Industry update News
Appointment of CFO ‘completes’ Salmon Evolution’s organization

A Norwegian aquaculture company with plans to build a land-based salmon farm capable of producing 30,000 tons of fish annually has announced the appointment of a chief financial officer.

Salmon Evolution said its new CFO, Håkon Andrè Berg, comes to the company with solid experience from the capital market, as well as management and boardroom work in the financial and industrial sectors.

Salmon Evolution plans to build a land-based fish farm at Indre Harøy in Fræna local authority, Møre og Romsdal county.

The 12-hectare site, previously a quarry, is almost ready for construction to start.

Closeness to the sea, expertise and new environment-friendly technology will create the basis for sustainable production of about 30,000 tonnes of salmon per year. The company also aims to become a beacon for sustainable development.

Berg has worked in recent years with financial and strategic consultancy, directorships, internationalization and transactions through his own business and in other companies.

Before that, he was a partner in and one of the founders of Broodstock Capital. He otherwise has experience from private equity, mergers and acquisitions, and the capital market from posts in such companies as Argentum and Midvestor Management.

“We’re very pleased that Berg has agreed to join us in our further progress,” said Odd Tore Finnøy, chief executive officer of Salmon Evolution. “He is an experienced executive with strong economic and financial experience and understanding.”

The new CFO will play a key role in meeting the company’s future needs for capitalization and building relations with long-term financial partners and investors.

Much still has to fall into place in constructing Norway’s first-ever, full-scale grow-out fish farm of this size in terms of biological and technological aspects, a circular economy and commercialization, said Finnøy.

“So it’s reassuring to report that we have recruited Berg,” Finnøy said. “He has substantial industrial and financial experience and expertise after many years of working in various industrial companies, and solid management experience with strategy and business development.”