Trondheim, Norway-based cod farming start-up Norcod has announced Hilde Rutledal Storhaug will join the company as managing director on 1 May.
Storhaug will replace current managing director Rune Eriksen, who will shift into the role of production director. Storhaug has a bachelor’s degree in aquaculture and is completing an MBA from Nord University. She worked as a farm manager for salmon-, halibut-, and cod-farming companies before joining seafood and aquaculture data provider Kontali Analyse two years ago.
In her new role, Storhaug will oversee the company’s effort to achieve a sustainable, large-scale commercial cod farming and achieve the company’s goal of the world's top producer of farmed cod.
“I jumped at the chance to join an ambitious, young venture,” Storhaug said. “To work with a strong team and take a leading role in an exciting, sustainable and forward-looking business, was an opportunity not to be missed.’
The staffing reshuffle comes in the wake of a vote of confidence from investors during the latest investment round in February 2020. Norcod raised NOK 105 million (USD 10 million, EUR 9.2 million) to invest in additional juvenile fish to build up its overall biomass of cod. Investors have indicated that they will continue to support the company through future funding rounds.
“We’re delighted Hilde will be joining our leadership team,” Eriksen said. “[Storhaug] is the perfect match to take us to the next level and I’m looking forward to having her experience and competence on board. It’s a winning combination to secure the company’s success.”
Eriksen told SeafoodSource in February that Norcod hopes to produce 36,000 metric tons (MT) of fresh cod by 2025 and has already secured two farm sites, with other sea locations and licenses in the pipeline.
In a collaboration with hatchery Namdal Settefisk, the first batch of juveniles was put to sea in January this year, and the next batch is due for transfer in June. The first harvest of around 6,500 MT is expected in Q3 2021.
“In fish-farming, optimising fish performance is everything, from sufficient fry supply and suitable sea sites, to premium fishfeed,” Storhaug said. “Robust support for the existing strategy reinforces my thoughts entirely.”
Storhaug said she expects data analysis to play an important role in the company’s development, along with customised technology solutions and digitalisation. Additionally, Storhaug will be in charge of an expanding Norcod’s workforce, and is keen to establish trust and interaction with local communities.
“We want to create jobs and help to recruit new talent to the industry by taking on apprentices at our fish farms,” she said.
In the meantime, Eriksen said Norcod is coping with the COVID-19 crisis and has taken steps to ensure it does not adversely impact the company.
“We believe that securing food production is, and will be, even more important in the future, and Norcod hopes to play an important role in that endeavor,” he said.
Photo courtesy of Norcod
