GeoSalmo is developing a state-of-the-art 24,000-ton hybrid flow-through land-based salmon farm. The company has completed environmental and planning assessments for the project. GeoSalmo secured a long-term 28 megawatt power supply agreement with Orka Náttúrunnar (ON Power) to cover its operational needs. The funding announced will enable the company to initiate construction in Ölfus, near Thorlakshofn. Phase one of the project is scheduled for completion by 2026. Leadership includes CEO Jens Þórðarson and founder and main shareholder Aðalsteinn Jóhannsson, with recent board additions linked to new investors.

Total raised

$15M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2024