Nekkar ASA: Awarded 10 million grant from Innovation Norway for developing Closed Cage for fish farming

Nekkar ASA has been awarded a grant under Innovation Norway’s Environmental Technology program of MNOK 10 to develop, pilot and test a Closed Cage for fish farming. The development will be done in cooperation with a renowned fish farmer.

Nekkar’s closed technology will provide multiple benefits in terms of production control and efficiency. The lice and waste problems the industry face today can be dramatically reduced. The cage is less capital intensive compared to land based and offshore solutions. It can be placed in most existing locations in addition to open up for new locations, primarily near shore.

The closed cages will give all the benefits of control of environment, fish welfare and increased growth. In addition, the Nekkar solution will reduce the risk of unintended escape by dual safety of the cage. The main construction material is all flexible and light weight.

The development and piloting phase will be ongoing until 2023.

Bergen, 27 January 2020
Nekkar ASA

www.nekkar.com

Contact person:
Toril Eidesvik CEO
M: +47 900 78 218

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act