What Finnforel does

Finnforel is a Finnish land-based aquaculture company founded in 2017 that operates Recirculating Aquaculture Systems (RAS) to produce ASC-certified rainbow trout. The company runs two integrated facilities: a Hollola breeding centre (Hatsina) producing broodstock, eggs, and juveniles supported by a 384 kWp solar plant with energy storage, and the Varkaus Gigafactory — described as the world's first full-scale RAS facility — which grows, processes, and packages up to 3,000,000 kg of rainbow trout annually under one roof, enabling same-day delivery to retail shelves. The closed-loop system recirculates over 99% of water, uses 95% less water than conventional flow-through farming, produces zero environmental discharge, and is supported by EU funding for automation and renewable energy integration.

The company sells fresh and alder-smoked rainbow trout fillets under two brands: Saimaan Tuore for the Finnish domestic market (distributed through two major Finnish retail chains) and LoHi for international export markets (launched in 2025 through retail partner LuLu Group in the UAE). Finnforel's go-to-market combines B2B retail partnerships, direct enterprise sales to foodservice and hospitality buyers (developed via Seafood Expo Global and INTERNORGA trade events), and a content-driven brand marketing approach across website, LinkedIn, Instagram, Facebook, and YouTube. Vertical integration spans the value chain from genetics to branded retail product, with strategic feed supply now secured via the joint Raisioaqua acquisition with Alltech.

The company is privately held (Finnforel Oy), headquartered in Helsinki with production in Varkaus and breeding in Hollola, employs 51–100 people, and is led by CEO Nora Hortling (appointed February 2025). A $259M financing led by Mitsubishi Corporation in October 2024, partnerships with ADQ exploring an Abu Dhabi gigafactory, and active pursuit of Middle East and European expansion position Finnforel in an international scale-up phase. ASC certification provides third-party sustainability credentials, and the 2025 divestiture of Alltech Fennoaqua shares has refocused the business on its core RAS production model.

Name

Finnforel

Legal name

Finnforel Oy

Website

https://finnforel.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Finnforel is a Finnish land-based aquaculture company operating Recirculating Aquaculture Systems to produce ASC-certified rainbow trout. It sells fresh and smoked fillets domestically under Saimaan Tuore and exports the premium LoHi brand through retail and foodservice channels across Europe and the Middle East.

Ownership category

akta.pro rank

Product category

Land-based Aquaculture

NAICS

Finfish Farming and Fish Hatcheries (112511), Seafood Product Preparation and Packaging (3117)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092)

akta.pro primary industry

Aquaculture Processing & On-Farm Value-Add (primary handling, icing, packing) (AFAEAAAN)

akta.pro secondary industry

Aquaculture Harvest, Processing & Packing (Farmed Finfish/Shellfish; On-Farm Plants) (AFANADAL)

Keywords

• Land-based fish farming
• Recirculating aquaculture systems
• Rainbow trout production
• Sustainable aquaculture
• Fish processing

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Fresh Rainbow Trout Products: Finnforel generates revenue through the production and sale of premium fresh rainbow trout products, including fresh fillets (single and family packs), and alder smoked fillets under the LOHI (export) and Saimaan Tuore (domestic) brands. Products are sold directly to retail chains and delivered fresh on the same day of processing.
2. Premium Export Brand (LoHi): International expansion through premium export brand LoHi, sold through international retail chains like LuLu in UAE, targeting consumers seeking healthy, sustainable protein solutions in handy easy-to-cook portions.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels8 records

Core offering

Finnforel operates land-based recirculating aquaculture systems (RAS) to grow, process, and supply ASC-certified rainbow trout products. The company manages the full value chain from egg production at its Hollola breeding centre to fillet processing and packaging at its Varkaus gigafactory (3,000,000 kg annual capacity). It sells fresh rainbow trout fillets (single and family packs) and alder-smoked rainbow trout fillets under the LoHi export brand and the Saimaan Tuore domestic brand through retail chains and foodservice customers.

Product overview

Finnforel operates as a land-based fish farming company using Recirculating Aquaculture Systems (RAS), producing ASC-certified rainbow trout from eggs to fillets. The company operates two main brands: LOHI (export brand for international markets including UAE) and Saimaan Tuore (domestic brand for Finnish market). Products include fresh rainbow trout fillets in single and family packs, plus alder-smoked varieties. Production facilities include the Hollola breeding centre (broodstock and fry production) and Varkaus Gigafactory (3,000,000 kg annual production capacity). The integrated value chain combines recirculating aquaculture with complete fish farming operations including processing and packaging on-site.

Differentiator

Problem solved

Functional benefit

Brands

• LoHi: Export brand for premium land-based farmed rainbow trout, launched in UAE market with fresh fillets, family packs, and alder-smoked fillets.
• Saimaan Tuore

Products and services

• Fresh Rainbow Trout Fillet Single Pack Fresh rainbow trout fillet in single-pack portion, processed and packed on-site at Finnforel's Varkaus gigafactory using ASC-certified land-based RAS farming, and delivered fresh to retail stores on the same day. Sold under the LoHi brand in export markets (including UAE via LuLu) and under the Saimaan Tuore brand in Finland, targeting health-conscious retail consumers seeking sustainable protein.
• Fresh Rainbow Trout Fillet Family Pack Fresh rainbow trout fillet in larger family-pack portion, processed and packed on-site at Finnforel's Varkaus gigafactory using land-based RAS farming with full traceability from egg to fillet. Sold under LoHi in export markets (UAE via LuLu) and Saimaan Tuore in Finland, targeting retail consumers seeking larger convenient fresh fish portions.
• Alder Smoked Rainbow Trout Fillet Double Pack Alder-smoked rainbow trout fillet double pack, showcasing the superior taste achievable through controlled RAS growing conditions. Sold under LoHi in export markets (including UAE via LuLu) and Saimaan Tuore in Finland, targeting retail and foodservice buyers seeking premium smoked seafood.
• LoHi Export Brand (UAE Launch) Premium export brand offering fresh and smoked rainbow trout products to international retail chains; launched in September 2025 across selected LuLu supermarkets in the UAE, targeting consumers seeking healthy, sustainable protein in handy easy-to-cook portions.
• Saimaan Tuore Domestic Brand Domestic brand offering locally-produced rainbow trout products (fresh single and family pack fillets and alder-smoked fillets) to Finnish consumers through major domestic retail chains, supporting regional food security and reducing import dependence.

Quantifiable outcome

• 3 million kg annual production capacity at Varkaus Gigafactory
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• AlltechcoreStrategic or Co-development Partner · 6 February 2026Alltech and Finnforel jointly acquired the Raisioaqua fish feed production facility from Finnish company Raisio, completing Finnforel's sustainable circular economy fish farming chain. The partnership supports Finnforel's gigafactory plans combining recirculating aquaculture systems with vertically integrated fish production. Both companies aim to export Finnish aquaculture expertise globally.
• ADQcoreStrategic or Co-development Partner · 6 February 2026ADQ and Finnforel are exploring the feasibility of developing a cutting-edge fish farming facility in KEZAD (Khalifa Economic Zones) in Abu Dhabi, representing potential expansion of the gigafactory model to the Middle East region.
• LuLu GroupcoreChannel Partner/ Reseller/ Distributor · 4 September 2025Finnforel launched its premium export brand LoHi in selected supermarkets across the United Arab Emirates through LuLu retail chain. This marks Finnforel's first international retail contract and significant milestone in expanding its international footprint.
• Alltech FennoaquacoreTechnology or Integration · 2 July 2025Alltech Fennoaqua and Finnforel continue cooperation through a strategic partnership despite Finnforel divesting its shares. Alltech Fennoaqua produces fish feed specifically developed for both traditional and recirculating aquaculture systems, with ongoing development of RAS feeds.

Scale indicators7 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Atlantic Sapphire: Land-based RAS salmon producer with flagship facility in Florida and Denmark expansion plans. Most directly comparable business model to Finnforel: vertically integrated, closed-loop, capital-intensive RAS targeting premium retail and foodservice.
• Nordic Aquafarms: Norwegian-headquartered land-based RAS salmon producer with facilities in Norway, Denmark, and a planned project in the US. Closely comparable in technology (RAS), species category (premium salmonids), and go-to-market focus on sustainability-driven retail.
• Pure Salmon Technology: Provider of turnkey RAS salmon farming facilities globally. Directly comparable to Finnforel on core recirculating aquaculture technology, though Pure Salmon operates more as a technology/licensor than a vertically integrated producer.

Emerging players

• AquaBounty Technologies: US-listed land-based salmon producer using RAS with genetically engineered fast-growing salmon. Comparable land-based RAS model targeting premium retail; smaller scale than Finnforel but operates in adjacent geographies.
• Superior Fresh: Land-based RAS salmon and leafy-greens producer in Wisconsin, US. Comparable in operating land-based RAS for premium salmonids and integrating sustainable production under one roof.
• Local Trout: Dutch land-based RAS rainbow trout producer serving European retail with locally produced, traceable trout. Closely comparable in species (rainbow trout), technology (RAS), and sustainability/traceability positioning targeting premium retail.

Broad incumbents

• Mowi: World's largest Atlantic salmon producer with sea-based and some land-based operations across Norway, Scotland, Chile, Canada. Comparable as a large-scale salmonid producer serving retail/foodservice globally; broader portfolio including sea-based farming.
• SalMar: Norwegian salmon farming giant with growing offshore and land-based segments. Comparable as a major salmonid producer with capital and ambition to scale land-based capacity, competing indirectly for premium retail shelf space.
• Bakkafrost: Faroese vertically integrated salmon producer with significant freshwater RAS operations and own feed production. Comparable in scale and vertical integration including feed, and competes in premium salmon retail channels.
• Cermaq: Global salmon producer owned by Mitsubishi Corporation. Notable as a Mitsubishi portfolio company, creating both competitive overlap with Finnforel in salmonids and a connection to Finnforel's key shareholder.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@saimaantuore8837
• Facebookfacebook.com/saimaantuore
• LinkedInlinkedin.com/company/finnforel
• Instagraminstagram.com/saimaantuore

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Finnforel