STATT – Financing NOK 63 million
Stokkeneset Reiarlag AS, a wholly owned subsidiary of Statt Torsk AS, has entered into an agreement with a Norwegian bank for a financing framework of NOK 63 million for equipment with a total cost of NOK 70 million. The financing will be used for feedbarges and work boats for Statt Torsk's fish farms.
3 feedbarges and 2 work boats will be delivered in Q4-21 to Q3-22 as part of an investment program of 6 barges and 6 boats. Statt Torsk is halfway through and ahead of schedule for vessels, and well on track to reach the target of annual production of 12,000 tonnes of WFE in 2024. The financing, in form of leasing, is entered into on market terms.
About Statt Torsk AS
Statt Torsk AS is listed on Euronext Growth with ticker STATT and with operations in Stad municipality. The company produces and sells Atlantic cod. In 2016-2020, the company carried out 2 pilot productions to clarify whether commercial production was possible. The company is on its way to commercial production, and now has 2 sites in Vanylvsfjorden. The company has a target of 12,000 tonnes of WFE (Whole Fish Equivalent) annual production by 2024. Stokkeneset Reiarlag AS's business is investing in and leasing standard floating equipment used in aquaculture. The company is 100% owned by Statt Torsk AS