22.10.2024 11:59:13 CEST | Nekkar ASA | Non-regulatory press releases

22 October 2024 – Aquaculture industry supplier FiiZK, which is an associated company of Nekkar ASA (Nekkar), has been awarded a contract to deliver two large, closed fish cages to an undisclosed Norway-based fish farmer.

Under the contract, FiiZK will supply two of its “Protectus” closed fish cages. FiiZK has not disclosed the value of the contract.

“We have spent the past 12 months further developing and enhancing our products, streamlined our business to focus solely on closed and semi-closed fish cages, and prepared our team to provide the best possible support to fish farmers that have closed cages as part of their production strategy. We consider this contract as a confirmation that this is the right strategy for FiiZK, says Jan Erik Kvingedal, CEO of FiiZK.

PROTECTUS

The Protectus comes with a new specially designed floating steel collar with long lifespan and high strength. A PVC tarpaulin bag is the main barrier, while a net provides extra escape protection.

Six seawater intakes at 30 metres water depth provide lice-free water to the closed fish cage. Water exits through an outlet at the bottom of the cage, while faeces and waste feed are collected in a sludge trap in the outlet. A comprehensive sensor network continuously monitors water quality inside the cage and in the water column outside.

“We are experiencing strong and increasing interest for our closed cage systems. Our concept contributes towards more sustainable aquaculture production, which resonates with the demands and expectations of both our customers, authorities and the end-consumer. We are proud to be part of this development,” adds Jan Erik Kvingedal.

SUCCESSFUL TURNAROUND

The first contract for FiiZK’s Protectus closed fish cage marks a successful 12-month turnaround period for the FiiZK Group after Nekkar (39%) and BEWI Invest (41%) in September 2023 invested to become the largest shareholders of the company.

The turnaround included the sale of FiiZK Digital AS to seafood investor Bluefront and divestment of FiiZK Protection AS' lice skirt business to Icelandic company Hampidjan Group. Going forward, FiiZK will focus solely on the sale of closed and semi-closed fish cages, with associated software, maintenance and services.

“We are very pleased with the FiiZK team and how it has positioned itself for what we believe will be a new wave of market interest in closed and semi-closed fish cage technologies. FiiZK is the most experienced player in this market with around 20 deliveries over the last years and the new solutions from the company are, in our view, better than ever, building on both the Certus and Ecomerden technology. As mentioned before, FiiZK has already made significant financial improvements and we look forward to seeing how the company develops over the coming months and year,” says Ole Falk Hansen, chairman of FiiZK and CEO of Nekkar ASA.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

Contacts

• Ole Falk Hansen, CEO, +47 988 14 184, ir@nekkar.com

About Nekkar ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies combined with high-end software solutions. The group combines 50 years' heritage from the world's number one shiplift company, Syncrolift, with new investments into sustainable, digitalised technology businesses that aim to unlock growth within ocean-based industries such as offshore energy, renewables and aquaculture.