Norway-based Blue Ocean Technology, which specializes in sludge treatment for aquaculture operations, is raising capital from an investor consortium led by venture fund Momentum.

The consortium, consisting of Broodstock, EGD Capital and Seagrow, will take a significant position in Blue Ocean Technology, said the company.

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The total investment amounts to NOK 38 million (€3.7 million/$4.4 million), divided between new growth capital and share purchases.