Bodø, Norway-based salmon-farming firm Gigante Salmon increased its financing by approximately NOK 361 million (USD 34.2 million, EUR 30.7 million) in the second quarter of this year, bolstering its coffers before its first harvest is scheduled to take place in 2025.
Delivering its Q2 2024 report on 20 August, the company confirmed it secured NOK 120 million (USD 11.4 million, EUR 10.2 million) in long-term financing from SpareBank 1 Nord-Norge and backed by Export Finance Norway, while a separate private placement in June generated NOK 241 million (USD 22.9 million, EUR 20.5 million).
“We are delighted by the trust from investors, and with strengthened financing and a well-functioning facility, it is a pleasure to work in such a dedicated and competent organization,” Gigante Salmon CFO Rune Johansen said.
On 30 June, there were nearly 161,000 fish in the facility, each with an average weight of 418 grams. The firm stated these fish have “healthy appetites” and that weekly health assessments have been “more than satisfactory.” The firm’s first harvest at the company’s Lille Indre Rosøy facility in Rødøy, Norway is expected to take place in Q2 2025.
No sales income is expected for the firm before the first harvest. Meanwhile, operating costs in Q2 were just under …
