What KIME Akva does

KIME Akva AS is a privately held Norwegian aquaculture company that operates fully integrated cod farming operations, headquartered in Finnsnes, Norway. Founded in 2020 by Ørjan Jensen, the company controls the production chain from broodstock and juvenile production through sea-based grow-out to harvesting, with downstream processing handled through a partnership with Vesterålen Havbruk. Its core product is premium farmed Atlantic cod (Gadus morhua), sold fresh and parasite-free, targeted at international B2B seafood distributors and sushi/sashimi buyers. The company operates multiple sea sites in Northern Norway (Forså, Gryllefjord, Hallarnes, Aspelia, Sandvika) with juvenile production at the Tomma facility (up to 6 million juveniles annually) and fry sourced from Akvaplan-niva's FISK Center.

The technical platform relies on conventional marine aquaculture combined with a selective breeding program sourced from Nofima's national breeding infrastructure (6th-7th generation stock, reported 10% genetic progress per generation in growth traits). Operations hold 12,900 tonnes of approved Maximum Allowable Biomass and target 24,000 tonnes harvest-weight annually by 2030 across nine operational sites. The company holds Global G.A.P. certification with ASC certification in progress, and is pursuing vertical integration into processed cod products via Primex and Senjahopen.

The business model is B2B sales of farmed cod into international seafood distribution, channeled exclusively through Nergård AS, which also serves as a major shareholder. Funding has been secured through multiple private rounds, including a NOK 52 million raise in April 2024 and an investment from Ocean 14 Capital Fund in September 2024. Geographic expansion has been pursued through the 2023 acquisition of Tomma Rensefisk and the December 2024 acquisition of Codlife AS, extending the footprint into Central Norway.

Name

KIME Akva

Legal name

KIME Akva AS

Website

https://kimeakva.no

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

KIME Akva AS is a Norwegian cod farming company that operates fully integrated Atlantic cod aquaculture in Northern Norway, from juvenile production through sea-based grow-out to processing. It sells premium farmed cod B2B to international seafood distributors exclusively through partner Nergård AS.

Ownership category

akta.pro rank

Headquarters

HQ city

Finnsnes

HQ country

Norway

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Fresh Farmed Cod Sales: Primary revenue from production and sale of premium farmed Atlantic cod. Fish harvested at Vesterålen Havbruk facility and sold fresh year-round. Target markets include sushi and sashimi segments due to parasite-free product.
2. Cod Products: Sales through Nergård's international customer network under sales and marketing agreement. Products include fresh whole cod and potentially processed products through further processing partners Primex and Senjahopen.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

KIME Akva develops and operates fully integrated cod farming in Northern Norway, producing premium farmed Atlantic cod harvested year-round and free of parasites to qualify for sushi and sashimi markets. The company controls the entire value chain from roe (via Nofima's national breeding program) through juvenile production at in-house facilities (up to 6 million juveniles annually) to sea-based grow-out at multiple sites across Northern Norway and processing partnerships with Vesterålen Havbruk, Primex, and Senjahopen. Sales and marketing are conducted through a strategic agreement with Nergård, providing access to international seafood customer networks.

Product overview

KIME Akva is a fully integrated cod farming company operating in Northern Norway. The company offers premium farmed Atlantic cod as its core product, supported by internal juvenile production (settefisk), multiple sea cage farming sites, and processing partnerships. The integrated value chain spans from roe (via national breeding programs) through juvenile production at company facilities, sea-based farming at multiple sites across Northern Norway, to harvesting and processing through partnerships. The company also acquired Codlife to expand capacity in the Møre og Romsdal region.

Differentiator

Problem solved

Functional benefit

Products and services

• Farmed Atlantic Cod (Oppdrettstorsk) Premium sustainable farmed Atlantic cod produced in Northern Norway's pure Arctic waters. Harvested year-round at Vesterålen Havbruk facility, free of parasites (Anisakis), positioned for sushi and sashimi markets, and sold fresh to international seafood distributors and processors through Nergård sales and marketing agreement.
• Juvenile Cod Production (Settefisk) Internal juvenile production capability through KIME Akva Tomma AS (formerly Tomma Rensefisk AS) and Husby hatchery in Nesna Municipality. Capacity for up to 6 million cod juveniles annually. Fry sourced from Akvaplan-niva's FISK facility (based on Nofima breeding program roe) and from Havland in Florø. Fry raised to 2 grams before transfer to KIME Akva grow-out facilities.

Quantifiable outcome

• Genetic progress of nearly 10% per generation in growth traits through selective breeding programs
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• PrimexminorChannel Partner/ Reseller/ Distributor · 1 May 2025Further processing facility in Myre for value-added cod products, included in Nergård agreement for processing options.
• SenjahopenminorChannel Partner/ Reseller/ Distributor · 1 May 2025Further processing facility on Senja for cod products, included in Nergård agreement for processing options.
• Vesterålen HavbrukcoreStrategic or Co-development Partner · 1 January 2022Processing partner for harvesting KIME Akva's farmed cod. Co-farming agreement for joint operations. Processing facility located in Bø municipality. Provides harvesting and primary processing services for year-round production.
• NorcodminorStrategic or Co-development Partner · 1 January 2022Co-farming agreement signed shortly after first capital raise in February 2022 for collaborative farming operations.
• Akvaplan-nivacoreStrategic or Co-development Partner · 1 January 2022Five-year agreement to operate FISK Center at Kraknes outside Tromsø for fry production. Akvaplan-niva's facility completed August 2023. Fry hatched from eggs supplied by Nofima's national breeding program, raised to 2 grams before transfer to KIME Akva facilities.
• NofimacoreStrategic or Co-development PartnerNational cod breeding program operator since 2002 on behalf of Ministry of Trade, Industry and Fisheries. Supplies eggs from breeding program for KIME Akva's juvenile production. Research partner for breeding, disease resistance, and production optimization.
• Havforskningsinstituttet (Institute of Marine Research)coreStrategic or Co-development PartnerResearch partner for production management and monitoring of sexual maturation in cod. Leading marine research institution contributing to regulatory-relevant research.
• CodlifeminorStrategic or Co-development PartnerMerged with KIME Akva in December 2024. Codlife established 2021 in Ålesund with Sunnmøre coastal operations including Vågholmen site (Haram) and Røholmane site (Ålesund, granted March 2026 with 5,460 tonnes MTB).
• Uttian KystfiskeminorChannel Partner/ Reseller/ DistributorCommercial partnership for access to Fagerhamn site in Frøya municipality with 3,120 tonnes MTB capacity.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Lerøy Seafood Group: Vertically integrated Norwegian seafood group spanning salmon farming, wild catch, processing and global distribution. Lerøy's downstream processing and international distribution muscle is directly comparable to the role Nergård plays for KIME Akva.
• Cermaq: Global salmon farming company operating in Norway, Chile, and Canada, owned by Mitsubishi. Comparable as a large-scale Norwegian salmon operator competing for sea sites and talent, and as a potential consolidator in whitefish aquaculture.
• Bakkafrost: Faroese salmon farming leader with integrated value chain and premium product positioning. Comparable in its focus on premium Atlantic whitefish from cold northern waters and in its vertical integration model.
• SalMar: One of the world's largest salmon farming companies and a direct competitor for Norwegian sea sites, talent, and capital. Several KIME Akva managers (including leadership) come from SalMar, making it both a talent feeder and a potential strategic acquirer or competitor in cod.
• Mowi: Global salmon farming leader with primary processing and value-added product capabilities overlapping KIME Akva's downstream ambitions. Mowi's scale, distribution reach, and processing footprint make it the dominant incumbent in Norwegian seafood that KIME Akva ultimately competes with for shelf space and customer mindshare.
• Austevoll Seafood: Norwegian seafood conglomerate spanning pelagic operations, salmon farming (Lerøy stake), and whitefish/processing — overlapping with Nergård-related value chain activities that sit between KIME Akva and its end customers.

Emerging players

• Atlantic Sapphire: US-based land-based salmon farming company pursuing a premium, sustainable production model. Comparable to KIME Akva's positioning around sustainable, premium Atlantic whitefish produced in a controlled, branded production system.
• AquaBounty Technologies: Land-based aquaculture company producing genetically engineered Atlantic salmon. Comparable as a smaller, publicly listed aquaculture operator pursuing differentiated, controlled-environment production of premium Atlantic salmon.
• Nordic Aquafarms: Land-based salmon farming company with planned facilities in Norway and the US. Comparable as a capital-intensive, sustainability-focused aquaculture player targeting premium markets with controlled-environment production technology.

Direct peers

• Norcod: Norcod is the only other listed pure-play Norwegian farmed cod company, operating sea-based grow-out in Northern Norway with a similar target customer base (premium retail, sushi/sashimi, European distributors). Most directly comparable to KIME Akva in species, geography, and value chain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kimeakva

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

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 KIME Akva