Norway-based salmon giant SalMar announced Wednesday it will invest NOK 500 million ($47 million/€43 million) in what it is calling a "Salmon Living Lab" in an effort to lower the sector's increasingly concerning salmon mortality rates.

The fledgling Salmon Living Lab innovation center is designed to bring together academics, investors and companies to find solutions to mortality and other animal welfare issues.

Last year, Norway's salmon sector reported a record number of mortalities, and SalMar owner Gustav Witzoe is convinced the wider industry will want to participate in the project because it could help all producers deal with these common challenges.