Norwegian land-based salmon farmer Salmon Evolution has raised an additional NOK 525 million (€45.6 million/$50 million) through a private placement, the company announced April 19.

It will use the money to help fund development of the Phase 2 build-out of its Indre Haroy, Norway, facility.

The group allocated almost 68.2 million new shares, each at a subscription price of NOK 7.70 (€0.67/$0.73) in the placement.

Among the investors who bought shares were Ronja Capital, Ocean Industries, Anne Breiby, Trollkyrkja, and Anno Invest.