One of Europe's biggest land-based salmon projects has changed its name and ownership structure to move the project forward.

Sweden-based Quality Salmon now goes by the name Sotenas Marine Park, and the group has several industrial owners which also will be active in the project.

"The Quality Salmon project is in a position of phasing out, and will be closed down," Lighthouse Finance CEO Roy Hoias told IntraFish.

Norway-based Lighthouse Finance was previously the majority owner of the company, but is now sharing the ownership of Sotenas Marine Park with companies including Denmark-based byproducts company BioMega.