Torghatten Aqua AS invites locals and others to become owners
In 1924, his grandparents started a small fish reception centre. Since then, Paul Birger Torgnes has created a business adventure - with NOK 300 million in total annual profit after tax over the past two years. Now the company is planning for growth.
If you recognise the name Torgnes, it's not without reason. The brothers Paul Birger and Arnfinn Torgnes took the family-owned fish reception centre and turned it into the aquaculture success story Fjord Seafood AS. The company later became what we know today as Norway's largest fish farming company, MOWI.
- "We went from operating in one municipality to having activities in 15 countries, 4,000 employees and annual sales of NOK 4 billion. Then we sold," says Paul Birger Torgnes.
He is now deputy chairman of the board and founder of the company, which is currently run by the third and fourth generations - Torghatten Aqua AS, which now has big plans to expand.
Through a share issue on Folkeinvest, they are now inviting local people and others to become investors.
- "Overall for 2020 and 2021, we realised a profit after tax of almost NOK 300 million from gains on investments in ocean-related businesses. Most recently from the sale of the shares in Torghatten AS," says Torgnes.
- We are investing this in the further development of profitable and sustainable businesses in the ocean industries," he adds.
PHOTO: Paul Birger Torgnes with his son Karl Johann Torgnes. The latter is managing director of the subsidiary Toft Brygge AS. Photo: Don't Be Negative Foto
Enormous quantities of fish
The Group currently produces more than 3,000 tonnes of salmon in traditional aquaculture and has acquired a licence to produce more than 4,000 tonnes annually.
The subsidiary Aquaculture Innovation AS has submitted an application for permission to produce 40,000 tonnes in a land-based fish farm - Helgeland Miljøfisk AS.
- With 50 dedicated and competent employees, we have gained a solid foothold in aquaculture, research, development, tourism and aquaculture education," says Torgnes.
This is Torgahatten Aqua:
There are three companies under the parent company Torghatten Aqua:
- Aquaculture Innovation has several active projects within land-based aquaculture.
- Campus BLUE educates the next generation of aquaculturists through an education and course programme aimed at the marine and maritime sector.
- Norwegian Aquaculture Centre operates conventional aquaculture and tourism activities.
Offensive strategies
The main objective of the capital raising is to further develop the company within education and land-based aquaculture.
- The plan is to continue to operate sustainable and profitable production of salmon in the sea, and that by 2032 we will be the leader in land-based aquaculture," says chairman Frode Blakstad.
The target is an annual production of more than 45,000 tonnes of edible fish and more than 12 million smolt and post-smolt. If Bulandet Miljøfisk is included, the total volume will exceed 100,000 tonnes.
- "If you invest in Torghatten Aqua, through Aquaculture Innovation you are helping to build facilities that are at the forefront of technology and sustainability for land-based salmon production," he says.
The company also wants to be the preferred education and course provider in the blue sector, both in Norway and internationally.
- "As an investor, you are helping to position Campus BLÅ to become the leading training provider in the blue sector," explains Blakstad.
On top of this, the Group wants to be a leading visitor centre for salmon farming through the Norwegian Aquaculture Centre.
Rock solid company
Neither Blakstad nor Torgnes has any problem answering why they believe the company will succeed with its plans.
First and foremost, Torgnes points out that the company has a long tradition of committing to seeing new opportunities in the ocean - and not least actually realising the plans they make.
- "Torghatten Aqua gives you the opportunity to invest in a group with a long tradition, which is committed to always looking for new opportunities offered by the sea," he says.
- The market is there and offers opportunities, and we are very well positioned for further growth. Among other things, we already have profitable production of farmed fish. We have permits to produce more than 4,000 tonnes a year," he says.
SEA OF OPPORTUNITIES: Chairman Frode Blakstad has great faith in Torghatten Aqua AS. Photo: Schibsted Partnerstudio
Everyone can invest
It is the investment firm Folkeinvest that will organise the issue.
Investors and other interested parties can already follow current campaigns from Torghatten Aqua AS and other companies seeking capital.
FACILITATOR: CMO Amalie Holt of Folkeinvest.photo: Schibsted Partnerstudio
Investors and other interested parties can already follow and invest in current campaigns from Torghatten Aqua AS and other companies seeking capital.
- Torghatten Aqua's share issue is open for investment, and you can read through the entire investment offer at folkeinvest.no, says CMO Amalie Holt in Folkeinvest.
Norwegian