Icelandic fishing giant Samherji on Thursday announced a ISK 3.5 billion (€25.1 million/$26.2 million) share capital increase to help fund its new 40,000 metric-ton land-based salmon farm, and brought in a key ally in the process.

Alf-Helge Aarskog, the former CEO of Norwegian salmon farming giant Mowi, invested in the group's fish farming division as part of the capital raise, and will take a seat on the company's board.

"The primary reason for my involvement is that the project is backed by experienced people with decades of know-how behind them," Aarskog told IntraFish.