‘Egg’ developer hatches plan to buy contractor
Ovum keen to ensure production capacity will meet its predicted demand for floating closed containment units
Ovum, the Norwegian company behind the Egg floating closed containment salmon enclosure, has reached agreement in principle to buy the Egg’s builder, Herde Kompositt.
A 21-metre-high pilot version of the Egg was completed in June last year and has been used for growing post-smolts. It was intended to pave the way for a 44-metre-high iteration with 10 times the volume, but the smaller version has proved to be more than simply a steppingstone.
“Based on the results from the pilot egg, we now see that Ovum E2000 (the pilot egg) is not only an important development arena, but also a commercial product,” said Ovum chief executive Cato Lyngøy in a press release.
“Primarily, E2000 is intended for the production of post-smolt, but we also have players who are looking at possibilities for broodstock production and as an extension of hatcheries. We see it as crucial to ensure production capacity so that we can reliably deliver the Egg to the customers who want it.”
Ovum said that Herde Kompositt has highly competent employees who have extensive experience with series production of composite constructions. The company is well known as a lifeboat manufacturer under various company names such as Harding, Schat-Harding and Palfinger.
“Herde therefore has the best conditions to become a series producer of Eggs and our Egg laboratory. The final agreement is subject to a company review and board approval at Ovum,” said Lyngøy.
Raising capital
In connection with commercialisation, Ovum is also in the process of raising capital, which it hopes to secure soon.
“This is done in collaboration with our facilitators Skandinaviska Enskilda Banken (SEB) and Norne Securities. The aim is to raise capital to carry out the first step in the commercialisation of the Eggeand is part of an aggressive capital strategy for further growth,” said Lyngøy.
Kim Røssland, chief executive of Herde Kompositt, said: “This agreement means that we secure a unique opportunity to be part of an incredibly exciting industrial adventure. Not only does this mean security for the business in Ølve and all the workers here, but also a potential to create an industrial development with ripple effects for the entire region.
“We are very proud of what we have achieved together with Ovum and are very ready to start the next phase of the collaboration.”
