Froy

What Froy does

Frøy AS is a Norwegian aquaculture service company headquartered in Sistranda, Frøya, operating a fleet of approximately 50 specialized vessels along the entire Norwegian coast from eight operational bases (Storslett, Rørvik, Ulsteinvik, Finnsnes, Trondheim, Måløy, Bømlo and the Sistranda HQ). The company provides vessel-based services to salmon-farming companies, including well-boat (brønnbåt) live-fish transport, sea freight, sea-lice delousing and fish-health treatment, ROV inspection and professional diving, mooring and deployment, seabed mapping, certification support, and towing. The vessel fleet incorporates advanced engineering systems: battery-hybrid diesel-electric propulsion with heat recovery (Frøy Saga, 510 kW battery), underpressure fish loading and sorting, Hydrolicer delousing, UV and ozone water treatment, RO freshwater generation (up to 5,000 m³/24h), RSW cooling, CO2 aeration, and automated biosecurity washing systems.

Frøy generates revenue through B2B service contracts negotiated directly with Norwegian aquaculture operators; pricing is not publicly disclosed and contracts are structured around vessel requirements and service scope. Its go-to-market is sales-led, with a CSO, Sales Directors, and regional fleet managers covering well boats, freight, diving, and service operations. The flagship Frøy Saga was co-developed with Mowi and operates on a long-term contract with Mowi Norge Region Midt. The company holds GLOBAL G.A.P., ASC, ISO 9001:2015, and ISO 14001:2015 certifications, positioning it as a compliance-ready supplier to the largest salmon farmers.

In October 2025 Frøy divested its Frøy Akvaservice AS subsidiary (33 service vessels, ~230 employees, and three land bases) to Abyss, reducing the fleet from approximately 80 to 47 vessels and refocusing on well boats, larger service vessels (LSV), diving, and freight. The company is reinvesting proceeds into new-build capacity, including MS Veidnes (6,000 m³ well boat) and NextGen TBN treatment vessel (2027 delivery), and is publicly expanding its fish-health service surface. Frøy is led by CEO Tonje Foss and Chairman Walter Qvam, with ~900 employees and ~750 seafarers post-divestiture.

Name

Froy

Legal name

Frøy AS

Website

https://froygruppen.no

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Frøy is a privately held Norwegian aquaculture service company operating approximately 50 specialized vessels, including well boats, freighters, and treatment vessels, that provides live-fish transport, delousing, diving, ROV inspection, and sea-freight services to salmon-farming companies along the Norwegian coast.

Ownership category

akta.pro rank

Product category

Aquaculture Vessel Services

NAICS

Aquaculture (11251)

SIC

Water Transportation (4400)

akta.pro primary industry

Aquaculture & Fish-Farm Service Vessels (Feed, Wellboats, Harvest Support) (IMAJADAF)

akta.pro secondary industry

Aquaculture Farm Services & Operations Support (net cleaning, diving, grading, harvesting) (AFAEAAAM)

Keywords

• Aquaculture vessel services
• Well boat transport
• Marine diving services
• Sea freight shipping
• Fish farming support

Headquarters

HQ city

Sistranda

HQ country

Norway

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Aquaculture Vessel Services: Service fees for well boat operations (fish transport, delousing, treatment), diving services, sea freight, mooring and deployment, seabed mapping, inspection and certification services, and towing operations. Revenue generated through service contracts with aquaculture companies along the Norwegian coast.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Frøy operates a fleet of approximately 50 specialized vessels along the Norwegian coast, delivering aquaculture vessel services for salmon and fish farming companies. Core services include well boat transport of live fish, sea freight of equipment and feed, ROV and diving operations, delousing and fish health treatment, mooring and deployment, seabed mapping, inspection and certification support, and towing. The company is Norway's largest aquaculture service competence environment and is certified under GLOBAL G.A.P., ASC, ISO 9001:2015, and ISO 14001:2015.

Product overview

Froy operates as an integrated aquaculture service provider offering a comprehensive suite of maritime services through its diversified vessel fleet. The core offering consists of well boat services for live fish transport, sea freight, ROV and diving operations, delousing and treatment, mooring and deployment, seabed mapping, inspections and certification support, and towing services. The fleet includes vessels such as MS Veidnes, Frøy Saga, Frøy Odin, Reisa, Kristiansund, Åsværfjord, Frøy Høvding, Steigen, Frøy Jarl, Rubin, Folla, Rotsund, Frøylin, Frøydis, Frøygard, Frøy Ægir, Frøy Neptun, Frøy Njord, Frøysprint, Frøyskarv, Frøy Challenger, Frøy Spirit, Frøy Supporter, Frøy Leader, Frøy Ocean, Frøy Master, Frøy Bas, Frøy Junior, Frøy Skuld, Frøy Stadt, Restless Wind, Frøy Finnmark, Frøy Harvest, Freyja, Frøy Valkyrien, Frøy Hild, Frøy Fighter, Rubina, Frøy Viking, Namsos, Frøy Server, Havtrans, Dønnland, Viknatrans, and Viktoria Lady. The company holds GLOBALG.A.P. and ASC certifications for responsible aquaculture practices.

Differentiator

Problem solved

Functional benefit

Products and services

• Well Boat Services (Brønnbåttjenester) Transportation of live fish between sea farms and processing facilities using specialized well boats equipped with underpressure sorting, UV water treatment, RO freshwater systems, RSW cooling/heating, and automated biosecurity washing. Designed for salmon farming companies requiring gentle fish handling and regulatory compliance.
• Sea Freight (Sjøfrakt) Cargo shipping services for aquaculture operations, including transport of equipment, feed, and supplies to offshore fish farming locations along the Norwegian coast using dedicated freight vessels.
• ROV and Diving Services (ROV og dykking) Remotely operated vehicle (ROV) inspections and professional diving services for underwater inspections, maintenance, and infrastructure assessment at aquaculture sites.
• Delousing and Treatment (Avlusing og behandling) Sea lice removal and fish health treatment services using specialized treatment vessels with Hydrolicer systems, maintaining fish welfare and regulatory compliance for Norwegian aquaculture operators.
• Mooring and Deployment (Fortøying og utlegging) Mooring and deployment services for fish farm equipment, cages, and infrastructure at aquaculture sites along the Norwegian coast.
• Bottom Mapping and Documentation (Bunnkartlegging og dokumentasjon) Seabed mapping and environmental documentation services used to assess sites for fish farming operations and ensure regulatory compliance with Norwegian aquaculture requirements.
• Inspections and Certification (Inspeksjoner og sertifisering) Comprehensive inspection services supporting aquaculture certification processes including GLOBAL G.A.P. and ASC standards compliance verification for fish farming customers.
• Towing (Slep) Vessel towing services for moving fish farm infrastructure, equipment, and other maritime assets along the Norwegian coast.
• Frøy Saga Well Boat 4,500 m³ all-round well boat with battery hybrid propulsion, underpressure fish handling, UV treatment, RO freshwater generation, and automated biosecurity washing. Built for live fish transport, delousing, and treatment under a long-term contract with Mowi.

Quantifiable outcome

• Reduced energy consumption through battery hybrid propulsion and heat recovery systems on Frøy Saga
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• AbysscoreStrategic or Co-development Partner · 18 October 2025Strategic sale of Frøy Akvaservice AS to Abyss. The sale includes 33 service vessels, approximately 230 employees, and land bases at Frøya, Måløy, and Finnsnes. Frøy focuses on well boats, larger service vessels, diving services, and freight while Abyss takes over broad service segment operations. Frøy retains diving vessels. Transaction pending Competition Authority approval.
• MowicoreStrategic or Co-development Partner · 1 January 2024Collaborative development of Frøy Saga well boat. Mowi provided operational requirements and engagement for vessel specification. Frøy Saga operates on long-term contract with Mowi Norge Region Midt. Joint focus on fish welfare, biosecurity, and sustainable production.
• Murueta ShipyardminorOthersConstruction of NextGen TBN well boat at Murueta Shipyard in Spain. Vessel designed for improved fish welfare, biosecurity, and energy efficiency with modular solutions for future technology integration.
• Sefine ShipyardminorOthersConstruction of MS Veidnes at Sefine Shipyard in Turkey. 112.1m well boat with 6000 m³ total well volume, advanced fish handling systems including Hydrolicer.
• Vaagland BåtbyggeriminorOthersConstruction of Frøy Ocean service vessel at Vaagland Båtbyggeri.
• Moen MarinminorOthersConstruction of Frøy Spirit service vessel at Moen Marin.
• KIWAcoreOthersAccredited certification body for GLOBAL G.A.P., ASC, ISO 9001, and ISO 14001 certifications.
• DNVcoreOthersClassification society providing vessel certification and compliance verification.
• Møre MaritimeminorOthersMøre Maritime series design for Frøy Saga well boat. World-leading Norwegian maritime technology for fish handling.
• YanmarminorOthersGenerator supplier. Frøy Saga equipped with 4 Yanmar generators at 1,300 kW each.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• AKVA Group: AKVA Group is a leading global supplier of equipment, technology, and services to the aquaculture industry, including fish farming infrastructure, sensors, and marine operations support. While broader than Frøy (it is a full-stack aquaculture technology provider rather than a pure well boat operator), it serves the same Norwegian salmon farming customers and overlaps on the marine services side.
• Solstad Offshore: Solstad Offshore is a large Norwegian offshore and subsea vessel operator with global operations. Although primarily offshore (oil & gas, subsea) rather than aquaculture, it shares the marine services operating model, vessel management infrastructure, and Norwegian maritime expertise with Frøy.
• DOF Group: DOF Group is a major Norwegian offshore service vessel operator (AHTS, PSV, subsea). While its primary focus is oil & gas offshore support rather than aquaculture, the marine operating model, vessel fleet operations, and Norwegian ownership base make it a broad incumbent comparable on the marine services infrastructure side.

Direct peers

• Edda Fjord: Edda Fjord (related to the Edda/Wind-class vessel family operating under Østensjø Group) operates well boats supporting the Norwegian aquaculture industry. As a direct well boat operator serving Norwegian salmon farmers with similar live fish transport and treatment services, it is a relevant direct peer to Frøy's core brønnbåt offering.
• Eidsvaag: Eidsvaag is a Norwegian shipping and aquaculture services operator with well boat and cargo tonnage serving the salmon farming industry. Its fleet profile, Norwegian coastal operating model, and B2B service contracts with aquaculture operators make it a close peer to Frøy's combined well boat and sea freight offering.
• Intership: Intership operates well boats and service vessels serving the Norwegian aquaculture industry, with a focus on live fish transport and fish welfare. It is a direct competitor in the same Norwegian brønnbåt service market as Frøy's well boat segment.
• Solvtrans: Solvtrans is one of Norway's largest dedicated well boat (brønnbåt) operators, providing live fish transport, delousing and treatment services to the Norwegian salmon industry. It is the most directly comparable competitor to Frøy's well boat segment, operating a similar mixed-size fleet serving the same Norwegian aquaculture customers.
• Sølvtrans: Sølvtrans is the parent/related owner of major Norwegian well boat tonnage through its shipping operations and has historically been one of the dominant brønnbåt fleet operators in Norway. Directly comparable to Frøy on core asset class, customer base (Norwegian salmon farmers), and revenue model (vessel service contracts).
• Abyss Group: Abyss Group is a Norwegian aquaculture and subsea services company that in October 2025 acquired Frøy Akvaservice AS (33 service vessels, ~230 employees). It is now a direct competitor in the Norwegian aquaculture service vessel space, taking over broad service operations while Frøy focuses on well boats, larger vessels, and diving.

Emerging players

• Nordlaks: Nordlaks is a vertically integrated Norwegian salmon farmer that operates its own well boat and service vessel fleet (e.g., binational vessels) for its farming operations. While primarily a salmon producer rather than a third-party vessel services provider, it overlaps with Frøy on the operating model for live fish transport, treatment, and aquaculture logistics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/froygruppen
• LinkedInlinkedin.com/company/froy-asa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

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 Froy