OTAQ looks to raise up to £2m in loan capital

Example AI performance

Marine technology business OTAQ is planning to raise between £1.5m and £2m through an issue of convertible loan notes. The announcement comes alongside the company’s latest trading update, which reports an “encouraging” first quarter for 2024.

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Lerøy escape numbers far less than feared

The number of fish that escaped from a Lerøy Midt salmon farm in Norway is estimated to be considerably less than first thought. Reports earlier this week suggested that 14,000 mature salmon had got out, but that figure is now down to around 8,400.

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Feed joint venture to spend £70m on ‘green’ vessels

Rendering of two planned feed transport vessels

Two ultra-modern vessels have been commissioned for the Norwegian feed transport company Fjordfrende, which is jointly owned by Skretting and Cargill. The boats are due to be delivered in 2026 and will have a hybrid diesel-electric propulsion system with a large battery pack, as well as engines that will be able to run exclusively on biodiesel.

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Lerøy beats expectations with Q1 numbers

Despite a series of challenges this winter, the Lerøy Seafood Group has announced better than expected 2024 first quarter results. Lerøy, which also owns one of Norway’s largest white fish trawler fleets, produced an operational EBIT or operational profit of NOK 842 million (£62m).

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