Land-based yellowtail kingfish producer The Kingfish Company has entered into an agreement for a five-year, ESG-linked €75 million ($81 million) debt financing package.

The net proceeds from the financing with P Capital Partners will be used to repay existing debt, finance remaining capital expenditures related to development at the company's Netherlands facility, and fund working capital.

“With funding secured to reach 3,500 tons annual capacity in the Netherlands, we are now funded to reach group-level profitability, placing us in a comfortable position to optimize growth capital for further buildout in the US and the EU and continue to deliver on our expansion plan,” said CEO Ohad Maiman.