Source: https://kimeakva.no/

Customers and businesses in the traditional cod market face a myriad of pain points. They grapple with extreme volatility in both supply and price, driven by unpredictable fishing quotas and natural stock fluctuations, which makes financial and inventory planning incredibly difficult. This inconsistency extends to the product itself, with wide variations in fish size and quality creating major inefficiencies for processors and challenges for the food service industry. Furthermore, the market is plagued by an opaque supply chain that lacks clear traceability, fueling consumer concerns over food safety, potential contaminants, and product authenticity to say nothing of sustainability. Businesses are facing growing pressure regarding the negative environmental impact of conventional fishing, including the bycatch of non-target species, high carbon emissions, and damage to marine ecosystems.

KIME Akva is a Norwegian aquaculture company leading the charge in sustainable, full-cycle farming of Atlantic cod (torsk). At a time when wild cod stocks are under immense pressure, KIME Akva offers an innovative and environmentally responsible alternative to traditional fisheries. Through cutting-edge aquaculture techniques and strong investor backing, the company is on track to scale production significantly while contributing to the blue economy and global food security.

The story of KIME Akva begins with a deep-rooted family legacy in the cod farming business. It all started in 1991, when Ørjan Jensen’s family experimented with cod farming using sea pens. Although the initial operations were discontinued in 2005, Ørjan, the great-grandson of the original pioneers, revived the vision by founding KIME Akva in 2020. The company is based in Finnsnes, Northern Norway, and is built on a combination of biological expertise, industrial scalability, and commitment to responsible farming practices. Today, KIME Akva holds licenses to produce up to 12,800 tons of cod annually and aims to expand that capacity to 24,000 tons by 2030.

Ørjan Jensen, who also serves as the company’s CEO, brings a mix of generational knowledge and forward-thinking leadership to the venture. The rest of the executive team includes seasoned professionals with experience at leading Norwegian seafood companies such as SalMar and Arctic Cod. Additionally, Yngve Myhre, a prominent figure in the Norwegian fisheries sector, chairs the board of directors.

KIME Akva specializes in the full-cycle farming of Atlantic cod, covering every stage from hatchery (rogn and settefisk), juvenile development, grow-out in sea pens, to harvest and distribution. Unlike traditional fisheries, the farmed cod undergo controlled breeding and optimized feeding regimens, ensuring high survival rates, fast growth, and consistent quality. The company’s operations are tailored to minimize environmental impact focusing on efficient feed conversion, biosecurity, and regenerative practices that reduce waste and marine pollution.

KIME Akva has attracted significant investment from Ocean 14 Capital Fund, a Luxembourg-based private equity fund dedicated to sustainable ocean-related ventures. Other strategic backers include Nergård AS (a major Norwegian seafood player), Chr. Augustinus Fabrikker, Builders Vision, and Flourishing Ocean Initiative, among others. These investors are committed to transforming the seafood industry and have found a strong partner in KIME Akva to advance sustainable aquaculture solutions.

The company has secured several key funding rounds to support its growth. In late 2022, it received a NOK 25 million (~USD 2.5 million) credit facility from SpareBank 1 to finance 15 months of business operations. In 2025, KIME Akva successfully completed a NOK 72 million (~USD 7 million) private placement to fund ongoing expansion and infrastructure development. Combined with equity contributions and long-term financing, the company is well-capitalized to execute its strategic goals.

The partnership with Ocean 14 Capital is a prime example of impact-driven investment in the seafood industry. With wild cod stocks having declined by over 40% in the past decade, the need for sustainable alternatives is urgent. KIME Akva’s model not only addresses supply shortages but also aligns with environmental, social, and governance (ESG) goals. The company implements sustainability metrics such as reducing its feed conversion ratio (FCR), lowering dependency on forage fish, and minimizing plastic waste in marine environments. These practices set a benchmark for future aquaculture operations globally.

A Final Thought

KIME Akva stands at the forefront of sustainable cod aquaculture. With a solid foundation of local heritage, advanced farming techniques, and strategic international investment, the company is poised to reshape the future of seafood. By offering a scalable and environmentally friendly solution to the depletion of wild fish stocks, KIME Akva is not only meeting market demands but also contributing to the preservation of marine ecosystems and long-term food security.

Citation / Sources

Ocean 14 Capital. (n.d.). KIME Akva Portfolio. Retrieved July 7, 2025, from https://ocean14capital.com/portfolio/kime-akva/

KIME Akva. (n.d.). Press release: Ocean 14 Capital Fund teams up with KIME Akva. Retrieved July 7, 2025, from https://kimeakva.no/pressemeldinger/ocean-14-capital-fund-teams-up-with-kime-akva-to-drive-growth-of-farmed-cod-as-a-sustainable-supplement-to-wild-fishery/

Undercurrent News. (2022, November 25). Young Norwegian cod farmer secures $2.5m facility for 15 months of business. Retrieved July 7, 2025, from https://www.undercurrentnews.com/2022/11/25/young-norwegian-cod-farmer-secures-2-5m-facility-for-15-months-of-business/

SANDS Advokatfirma DA. (2025, March 14). Congratulations to KIME Akva AS on the successful private placement. LinkedIn. Retrieved July 7, 2025, from https://www.linkedin.com/posts/sands-advokatfirma-da_congratulationstokime-akva-ason-the-successful-activity-7272258731604680704-lufv

The Fish Site. (2024, March 13). Ocean 14 Capital announces partnership to boost cod aquaculture. Retrieved July 7, 2025, from https://thefishsite.com/articles/ocean-14-capital-announces-partnership-to-boost-cod-aquaculture

Seafood Media Group. (n.d.). KIME Akva Company Profile. Retrieved July 7, 2025, from https://seafood.media/fis/companies/details.asp?company=kime+akva&company_id=171581

Contributor : Dyah Ayuning Tyas
Reviewer : Imam Buchari, David Ratner