The Rjukan project consists of a land-based aquaculture facility to be built in Rjukan, Norway, that uses established recirculating aquaculture system (“RAS”) technology - a close-loop, highly controlled environment where water is continuously cleaned and reused. The RAS technology behind Rjukan is based on simple components and highly scalable regardless of fish size and location.
Driven by a growing global population and an expanding middle class, the world faces an increasing demand for quality protein amid limited resources of usable land and water. Fish, including salmonids such as salmon and trout, is considered one of the most efficient sources of high-quality animal protein due to the rate at which it converts feed into edible mass, its high protein retention and high rate of edible meat per kilogram, as well as various nutritional benefits.
Investment attractions
· Key environmental infrastructure needed to decarbonise food production and agriculture sectors for a growing population
· Rising global demand for quality, sustainable protein sources from sustainable practices
· Unique location providing access to a high-quality source of fresh water and renewable electricity
· Access to established Norwegian seafood markets
· Favourable regulatory environment presenting tax advantages for fully land-based controlled environment projects
· FGEN investment structured via preferred equity instruments with emphasis on downside protection and alignment of incentives with developer and minority shareholders
Project Specifics
Acquisition date: July 2022
Total Investment: £48 million invested