Smart Salmon, another fledgling land-based salmon farmer, intends to raise between NOK 25 million (€2.4 million/$2.9 million) and NOK 80 million (€7.7 million/$9.2 million) to fund its first phase of construction for a recirculating aquaculture system (RAS) larger smolt facility in Norway.

The company is planning to list on the Oslo Stock Exchange's lower cap Euronext Growth market by the second quarter of 2021.