Christian Sørensen, the founder of now-bankrupt Billund Aquaculture, has announced plans to found a new company dubbed Billund Aquatech.
Sørensen said he has joined forces with a select group of former experts from the Billund Aquaculture Group to create a collaborative alliance. According to Billund Aquatech, the new company will combine decades of knowledge in recirculating aquaculture system (RAS) design, engineering, and project executive.
"Our vision is to continue advancing the RAS industry by leveraging our proven experience and expertise to create the most reliable and efficient aquaculture systems globally," Sørensen said. "We are excited to embark on this new journey with a team that has been at the forefront of RAS innovation for decades, and we are confident that together we will achieve significant growth and success over the next five years."
Billund Aquaculture Group declared bankruptcy in August after impacts from the Covid-19 pandemic and the economic fallout from sanctions imposed on Russia following its invasion of Ukraine, which exacerbated the company’s financial troubles. In 2022, the company lost DKK 97.3 million (USD 13.8 million, EUR 13 million) – its fourth consecutive year of annual losses.
Prior to its bankruptcy, the company installed more than 130 plants in more than 20 countries, including projects like the first land-based striped bass RAS built for Pacifico Aquaculture, a high-intensity shrimp RAS for Aquapurna, and a number of salmon hatcheries in Norway, Chile, Australia, and the U.K. The company was also removed from Miami, Florida, U.S.A.-based Atlantic Sapphire’s project after the company blamed Billund Aquaculture for a mass mortality incident at its salmon RAS.
Billund Aquaculture was at one point owned by Broodstock Capital, which sold it in 2022 to Havbruksparken Utvikling, Stoksund, and the Sørensen family.
At the time of the bankruptcy, Billund Aquaculture CEO Kritsoffer Lund said the company had positive results in 2023 but that those results could not overcome its financial issues, which he blamed on prior ownership before he started his tenure in April 2024.
According to Billund Aquatech, the new venture aims to redefine RAS technology and deliver optimal results.
“Billund Aquatech and its partners are ready to redefine the future of RAS technology, focusing on innovative project designs, operational excellence, and the delivery of specialized equipment,” the company said. “The team’s extensive experience ensures that every project will be executed with precision, reliability, and a commitment to sustainability.”
