Norwegian private equity firm Bluefront Equity has announced its latest seafood investment: becoming the largest shareholder of Oslo, Nowway-based hatchery system supplier Alvestad Marin.
“This is an important and highly specialized segment of the aquaculture industry that Bluefront looks forward to developing together with Alvestad Marin,” Bluefront Investment Manager Johan Kostveit said in a release. “Alvestad Marin aligns perfectly with Bluefront’s investment strategy as the company’s technologies contribute to improved fish welfare through lower mortality rates and enhanced water quality, resulting in more sustainable and profitable seafood production.”
Alvestad Marin’s flagship product is CompHatch, a hatching cabinet that regulates water flow for fish eggs and fry. The company has delivered more than 2,000 of the cabinets across Norway and internationally.
Alvestad Marin is also developing an egg-tending robot that can automatically sort and remove non-viable eggs from incubation trays.
“Our egg-tending robot, AutoTend, reduces manual labor by as much as 97 percent compared to traditional tending methods. The system automatically handles eggs and fry with high precision, freeing up valuable resources and delivering operational and economic benefits for fish farmers. Together with Bluefront, we have the ambition to roll out this technology globally,” Alvestad Marin Founder and CEO Runar Alvestad said in a release.
Bluefront Capital II has acquired a 52 percent stake from Alvestad, who retains the remaining stake. The financial terms of the transaction were not disclosed.
“With Bluefront onboard, we are well-positioned to accelerate the development of our technology and solutions. We are currently developing a next-generation hatchery platform tailored for seamless integration with the AutoTend robot, enabling autonomous handling of eggs and fry while improving quality, user-friendliness, and hygiene standards for our customers. Over time, we also see significant opportunities to expand into new markets and species, developing innovative solutions for hatcheries and first-feeding facilities,” Alvestad said.
According to Bluefront, Alvestad reported revenues of NOK 46 million (USD 4.8 million, EUR 4.2 million) in 2025.
