Andfjord Salmon

Andfjord Salmon appoints CFO

Sortland, Norway, October 6 2020

Andfjord SalmonTM has hired Bjarne Martinsen (40) as Chief Financial Officer (CFO).

Current CFO and Co-Founder, Helge Krøgenes,becomes the company’s Chief Commercial Officer (CCO)

“The appointment of a full-time CFO and establishment of a CCO is part of a long-term plan

to further strengthen our management team as we move from development towards fish

farming operations,” says Martin Rasmussen, CEO of Andfjord SalmonTM.

The company’s ambition is to become the world’s most fish-friendly and sustainable salmon

farmer. Its first 1,000 tonnes MAB (maximum allowed biomass) capacity pool at Kvalnes,

Andøya, Norway, is on track to be completed in the fourth quarter of 2020.

Bjarne Martinsen has 15 years’ experience from senior finance roles and is a state

authorized public accountant from NHH the Norwegian School of Economics. He started his

career with KPMG and has been the Financial Manager at TV distributor RiksTV and a CFO

position at insurance company Nemi Forsikring. In the past two years, Martinsen has been

the Head of Finance at the Norwegian Food Safety Authority.

“Having been involved with food safety in the past few years, Andfjord Salmon’s resolute

focus on fish welfare and sustainable farming of salmon in its natural habitat is something I

can identify with,” says Bjarne Martinsen.

Martinsen will join as CFO on January 1. 2021. At the same time, Krøgenes, will

move to a newly created position as Chief Commercial Officer.

In his new role, Krøgenes will be in charge of developing the company's commercial

operation, including the salmon’s journey from processing and packaging to international

consumers’ dinner plates.

Andfjord SalmonTM has developed a patented, innovative, and sustainable aquaculture

concept for land-based farming of Atlantic salmon. The company’s facility is escape-proof,

lice-free and its innovative multi cleaning system prevents polluting marine life. Additionally,

the facility will be partly powered by solar panels and wind turbines.

For more information, please contact: Martin Rasmussen, CEO, Andfjord Salmon, +47 975 08 665, [email protected]

About Andfjord Salmon™

Andfjord Salmon™ has developed an innovative and sustainable aquaculture concept for

land-based farming of Atlantic salmon. The company’s ambition is to build the world’s most

sustainable aquaculture facility of its kind. The facility is escape-proof, lice-free and its

innovative multi cleaning system prevents polluting marine life. Additionally, the facility will be

partly powered by the use of solar panels and wind turbines.

Located at Kvalnes on the island of Andøya, at the Arctic Archipelago of Vesterålen, Norway,

the company’s first facility is currently under construction. The company holds a license for

10,000 tonnes maximum allowed biomass (MAB) for land-based farming of Atlantic salmon

and has secured rights to properties for a potential expansion of an additional 60,000 tonnes MAB

production capacity. Further expansion is subject to zoning of the land and granting of

licenses. Andfjord SalmonTM is listed on Merkur Market under the ticker ANDF-ME.

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