AKVA buys majority stake in aquatech firm Submerged, with 100 percent ownership option

Sømna, Norway-based aquaculture equipment provider AKVA Group has acquired a majority stake in Submerged, an aquaculture technology firm that has designed a lice-counting and biomass-measurement system.

AKVA has purchased a 51 stake in Submarged, with an agreement to acquire up to 100 percent of the company by 2028, according to a company release.

“The acquisition of the majority stake in Submerged is of great strategic importance to AKVA and will further develop and complement our digital offerings to the market,” AKVA CEO Knut Knesse said. “By combining Submerged with our current digital products such as AKVA Fishtalk, AKVA Observe, and AKVA Connect, we are strengthening our AKVA Fusion platform and can now offer a complete digital solution to enhance precision fish farming.”

Submerged AS was founded in 2018 by Lars Martin Sandvik Aas and Håvard Lein Braa. The company has developed a product portfolio with a focus on cameras and optical technology used to maximize the efficiency of fish aquaculture operations in Norway.

The company’s primary products are its Rolleye, a sensor that automatically measures and reports lice numbers and average fish weight, and Quadeye, used for counting and analyzing fish populations in rivers and estuarine systems. Its AutoVinsj is a winch for easily positioning instrumentation in aquaculture cages.

On 10 August, AKVA Group reported improved profitability in Q2 2022, with revenues up 4 percent to NOK 940 million (USD 90.2 million, EUR 82.2 million), and EBITDA of NOK 86 million (USD 8.2 million, EUR 7.5 million), up from NOK 3 million (USD 288,000, EUR 263,000) posted in Q2 2022.

AKVA announced the release of a new remotely operated vehicle lineup on 21 August, the same day it introduced what it said was the world’s first fish-farming pen made entirely from recycled plastic.

Photo courtesy of Submerged