Cod farmer Statt Torsk launches strategic review, seeks industrial partner

Net pens in the water with a workboat behind them at Statt Torsk's cod farming operation.

Norwegian cod farming firm Statt Torsk has launched a strategic review to determine how to secure necessary financing, with a stated goal of finding an industrial partner.

The Stokkeneset, Norway-based company announced the new review in its Q2 2023 results, which highlighted the company's increased harvests and revenue, along with increased losses.

The company posted revenue of NOK 42.2 million (USD 4 million, EUR 3.6 million) in Q2 2023, up from the NOK 681,000 (USD 65,000, EUR 59,000) posted in Q2 2022 – when the company was still developing its farms. Year-to-date, the company has earned NOK 78.8 million (USD 7.5 million, EUR 6.9 million). ... 

Photo courtesy of Statt Torsk

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