Land-based yellowtail kingfish farmer The Kingfish Company raised €32 million ($34.8 million) in an unsecured convertible loan this week, with a notable investment from the sustainability-focused Ocean 14 Capital Fund.
The majority of the convertible loan is allocated to existing key shareholders, while €11 million ($12 million) will be allocated to Ocean 14.
The net proceeds of The Kingfish Company's convertible loan will be used to make the company's operations cash-positive and finance completion of its Phase 2 expansion at its facilities in Zeeland, the Netherlands.
