BioFish

What BioFish does

BioFish Holding AS is a Norwegian land-based aquaculture producer specialising in smolt and post-smolt for the salmon farming industry. Founded in 2016 and headquartered in Kvam municipality, the company operates a single recirculating aquaculture system (RAS) facility in Ljones on Norway's west coast, holding an aquaculture license for 5 million smolt and a discharge license for 2,200 tonnes per year. The RAS platform recycles approximately 99% of process water and incorporates three proprietary production elements: combined freshwater and seawater phases to acclimate smolt to marine conditions, temperature regimes modelled on wild salmon habitats in early growth, and gravity-based wellboat loading that eliminates pump stress on fish. The site is operated from inside PO3, the highest-density Norwegian salmon production area, where roughly 40% of Norway's fish farming sites lie within a one-day transport radius.

The company serves Norwegian salmon farmers operating in PO3 and surrounding west-coast regions, targeting customers who require robust juveniles that can shorten sea-based production cycles by 4-6 months and reduce exposure to sea lice and disease. BioFish generates revenue through negotiated, project-based B2B supply contracts specifying volume, weight class (smolt at 1-2g through post-smolt up to 1,000g), and delivery timing; multi-year contracts provide volume visibility. Customers are large, established salmon farming enterprises, with deliveries made directly via wellboat from the Ljones facility. Volume has scaled from 523 tonnes delivered in 2024 to a 2025 guidance of 1,000-1,200 tonnes, with 720 tonnes/year already contracted for 2025-2027 and options extending to 2028. Q1 2025 revenue reached NOK 34.5M on 323 tonnes, roughly double the NOK 17.2M on 206 tonnes reported for Q1 2024.

In August 2025, BioFish became a wholly-owned subsidiary of Langøylaks Holding 2 AS following a voluntary cash tender offer at NOK 1.77 per share (approximately NOK 230 million total consideration), compulsory acquisition of remaining shares, and delisting from Euronext Growth Oslo. The facility continues to operate under Langøylaks ownership, with certifications maintained in Global G.A.P. (since 2016), GRASP, and CICERO Shades of Green.

Name

BioFish

Legal name

Biofish Holding AS

Website

https://biofish.no

Company type

Private

Founded year

2016

Operating status

Acquired

Headcount range

11–50 employees

Short description

BioFish is a Norwegian land-based smolt and post-smolt producer using RAS technology at a single Ljones facility, serving Norwegian salmon farmers with robust juveniles that shorten sea-based production cycles, and was acquired by Langøylaks Holding 2 AS in August 2025.

Ownership category

akta.pro rank

Product category

Salmon Smolt and Post-Smolt Aquaculture Production

NAICS

Finfish Farming and Fish Hatcheries (112511)

SIC

Agricultural Prod-Livestock & Animal Specialties (200)

akta.pro primary industry

Finfish Farming (e.g., salmon, tilapia, catfish) (AFAEAAAA)

Keywords

• Salmon smolt production
• Post-smolt supply
• Recirculating aquaculture systems
• Land-based fish farming
• Aquaculture juvenile fish

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Smolt and Post-Smolt Sales: BioFish generates revenue through the production and sale of high-quality smolt and post-smolt to Norwegian salmon farming companies. The company delivers fish at various weights (250-600+ grams) under contracts with industry players. Revenue is project-based per delivery, with multi-year contracts providing visibility.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

BioFish produces and sells high-quality smolt (1-2g to 120+g) and post-smolt (up to 1000 grams) to Norwegian salmon farming companies. Production is based on recirculating aquaculture system (RAS) technology at its land-based facility in Ljones, Western Norway. The company holds an aquaculture license for 5 million smolt and a discharge license for 2,200 tons per year, supplying post-smolt that enables customers to shorten sea-based production cycles by 4-6 months.

Product overview

BioFish operates as a single-product company focused on producing high-quality smolt and post-smolt for the salmon farming industry. Their production is based on recirculating aquaculture system (RAS) technology at their facility in Ljones, Western Norway, near the Hardangerfjord. The company produces smolt at various growth stages (1-2g, 10g, 20g, 120g) and post-smolt (up to 1000g), with approximately 99% of water recycled. BioFish's integrated offering includes producing, growing, and delivering robust salmon juveniles that are prepared for seawater transition, targeting salmon farmers in high-density farming areas with shorter transportation distances.

Differentiator

Problem solved

Functional benefit

Products and services

• Smolt and Post-Smolt Production Production and sale of high-quality salmon smolt (1-2 gram to 120+ gram) and post-smolt (up to 1000 gram) for Norwegian salmon farming companies. Produced using RAS technology with freshwater and seawater systems, temperature regimes matching wild salmon habitats, and gravity-based delivery to wellboats. The company holds a 5 million smolt aquaculture license and a 2,200 ton discharge license, with the Ljones facility fully operational since 2024.

Quantifiable outcome

• Shorter sea-based production time by 4-6 months
• +2 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators11 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Bakkafrost: Faroese salmon farmer with significant own smolt production including large freshwater RAS hatcheries. Direct comparable in vertically integrated salmon farming with own smolt operations serving Atlantic salmon farmers.
• Cermaq Group AS: Global salmon farming major (Norway, Chile, Canada) with own smolt operations including RAS facilities. Comparable integrated salmon value chain presence and Norwegian operational footprint.
• SalMar ASA: One of the world's largest Norwegian salmon farmers, operating integrated smolt/post-smolt production including significant land-based RAS capacity. Directly comparable as both a smolt producer and salmon farmer serving the same Norwegian customer base.
• Grieg Seafood ASA: Norwegian-headquartered salmon farmer with smolt operations in Norway and Canada, including RAS investments. Comparable as a Norwegian salmon producer that both produces and purchases smolt/post-smolt.
• Nordlaks AS: Norwegian family-owned salmon producer operating its own RAS-based smolt and post-smolt facilities in Northern Norway. Comparable RAS technology platform and direct overlap with BioFish's smolt supply business model.
• Atlantic Sapphire ASA: Land-based RAS salmon producer pursuing fully recirculated grow-out to harvest size. Direct technology comparable to BioFish's RAS platform, although at much larger end-market stage (post-smolt versus harvest).
• Norway Royal Salmon ASA (NRS): Norwegian salmon farmer focused on the Troms/Finnmark region with own smolt production. Comparable Norwegian salmon farming business model that includes smolt/post-smolt supply for its own and third-party grow-out.

Emerging players

• Pure Salmon (AquaBounty facilities and 8F Asset Management portfolio): Global land-based RAS salmon project developer with facilities planned in multiple geographies. Direct technology overlap with BioFish's RAS approach to salmon production.
• AquaBounty Technologies: US-listed land-based RAS aquaculture company focused on salmon and trout. Comparable RAS technology stack and biological production approach to BioFish, though at smaller commercial scale.

Broad incumbents

• Mowi ASA: The world's largest Atlantic salmon producer, with vertically integrated smolt operations across Norway including RAS facilities. Overlaps with BioFish as both a producer of RAS smolt and a potential customer/competitor for Norwegian salmon farmers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/biofish-as

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

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 BioFish