Luxembourg-based private equity fund Ocean 14 Capital is investing in Aion, the spinoff of Norwegian krill harvest company Aker BioMarine, and taking operational control of the company.

Under the agreement, Ocean 14 Capital and Aker BioMarine will jointly provide financing through a NOK 40 million (€3.9 million/$4 million) convertible loan, equally distributed between the two parties.

The financing will be used for growth and working capital in the initial phase for Aion, the companies said in a stock exchange announcement.