Nordic Aqua Partners strenthens management
Nordic Aqua Partners (NOAP) takes measures to strengthen the company’s management team, appointing Ragnar Joensen new CEO and adding extensive industry experience to the board electing Atle Eide, Therese Log Bergjord and Aino Olaisen as new directors.
Mr. Joensen has more than 25 years experience from land-based salmon farming , making him one of the most experienced executives within the industry. His proven track record from Mowi and other companies, includes the role as member of Mowi group management responsible for farming in Norway as well as the role as director of Technology. Moreover Joensen has together with the Viga family been responsible for building up Tytlandsvik Aqua.
As senior executive with experience from both salmon farming and private equity Atle Eide has a proven track-record in building industry leading companies in the seafood industry bringing all important competence to the board. Therese Log Bergjord, CEO of Skretting, has long term experience from global aquaculture bringing a wealth of experience from long term operating in China. As chairman and part-owner of Nova Sea, Aino Olaisen, will bring extensive competence in building high performing company cultures.
For the for the initial phase of the NOAP growth journey, Mr Joensen has held the position as working executive chairman. He will now devote his full capacity and competence to ensure operational performance as the company is entering its operational phase.
“We are preparing the organisation for further growth, and with the inclusion of the new board members we bring on board competence and experience that will be highly valuable for the development of the company. It all comes down to building a strong team, with the ability to deliver operational excellence. After having raised NOK 300 million in new equity NOAP is now fully financed for 8 000 tons”, says Mr. Joensen.
Nordic Aqua Partners is a pioneer and first mover in land-based salmon farming production and a first mover in China. The company has high ambitions for future growth. The company is well underway toward first harvest is Q1 2024, expecting to reach an annual run rate production of 8 000 tons by the end of 2025. Current business plan aim for an annual production of 20,000 tonnes, while the long term objective is to reach a production of 50 000 tons per year thorough a stepvice expansion of the operations in China. However, a key focus for the company is to maintain and maximize financial flexibility. NOAP will therefore ensure that further expansion plans are fully funded before initiated.
As part of the restructuring, Ove Nodland, Chairman and CEO of Nordic Aqua (Ningbo) Co. Ltd, the 100% owned Chinese subsidiary of NOAP, will step down from the board in NOAP. He will remain in the company, continuing his strong efforts to maintain relations to and reassuring collaboration with the local government in China and to develop the company to commercialisation and further growth.
Ole Juul Jørgensen and Tore Hopen will step down from their positions as CEO and board member.
“We would like to thank Tore Hopen for his role as board member since 2022 and Ole Juul Jørgensen who has been a part of NOAP since 2016, and latest years has held the role as CEO. We appreciate their strong contribution to develop NOAP to where the company is today”, says Mr. Joensen.
Vegard Gjerde and Knut Nesse will continue in their roles as board members.