Finnforel to Invest EUR 45 Million in New Production Facilities and Build First Selective Breeding Centre for Rainbow Trout in Finland
9.11.2021 12:25:00 EET | Business Wire | Press release
Finnish technology company Finnforel has become one of the world's leading ecological fish farms since it was founded in 2017. The company’s products are currently sold in more than a thousand grocery stores in Finland under the Saimaan Tuore brand. Finnforel achieved a significant breakthrough in November 2020, when its million-kilo production plant in Varkaus achieved maximum capacity level for premium fish farming.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211109005798/en/
Finnish technology company Finnforel has become one of the world's leading ecological fish farms since it was founded in 2017. With the investment programme announced today, Finnforel enters its next growth phase, as the company aims for rapid expansion in both the Finnish and global markets. (Photo: Business Wire)
With the investment programme announced today, Finnforel enters its next growth phase, as the company aims for rapid expansion in both the Finnish and global markets.
“Only 0.1 percent of all the fish in the world is produced in an ecologically sustainable way. This is a massive EUR 300 billion business that must change if we want to save our seas and lakes. I believe that Finnforel’s highly refined model, which works without antibiotics or environmental emissions, can claim a significant part of this market. Over the next decade, the mission of the Finnforel team is to bring Finnish genetics and fish farming know-how to the world. In the future, fish will be farmed where consumers are,” says Pekka Viljakainen, Chairman of the Board and one of the founders of Finnforel Oy.
Finnforel is further expanding the production capacity of its Varkaus plant from one million to three million kilos. The resulting “Finnforel Gigafactor” concept will cover the entire fish farming process, from juvenile fish to ready consumer products. Construction work on the extension, which will cost approximately EUR 25 million, will begin immediately. In December 2021, Finnforel will begin exporting its fish products to the United Kingdom, Germany and the Netherlands. At the same time, the company is entering the design phase for several similar gigafactor projects in Europe, Russia and the Middle East.
Finland’s first selective breeding centre for rainbow trout to be built in Hollola
A significant part of Finnforel’s expansion plans is to introduce to Finland industrial-scale broodstock and fry production suitable for Recirculating Aquaculture Systems. At present, most of the eggs used in fish farming in Finland are imported. Finnforel is building a EUR 12 million genetics and fry plant in Hollola that, upon completion, will have the capacity to produce eggs for six Finnforel gigafactor plants around the world.
The project, which is being implemented in close co-operation with Natural Resources Institute Finland, is also important in terms of Finland's emergency supply. Together with the Finnish institute, Finnforel will help secure the supply of fish eggs and fry, for example in crisis situations. Since the early 1990s, Natural Resources Institute Finland has carried out pioneering research in rainbow trout genetics, breeding and animal health. This project marks the first time that the results of this work are being applied and commercialised to this extent.
“According to the business model created by Finnforel, fish will be processed from eggs to consumer packaging. By securing the entire production chain, we create an easy way for consumers and retailers to buy and sell fresh and delicious fish. The consumption of fish is growing internationally, and I firmly believe that more vigilant consumers will increasingly favour organically produced alternatives that are easy and quick to prepare,” says Max Alfthan, Managing Director of Finnforel.
Significant new owners
Finnforel is financing these investments totalling EUR 45 million through a EUR 34 million share issue, EUR 4.5 million from the European Maritime and Fisheries Fund (EMFF) and EUR 6 million in loans from banks.
The share issue will make significant Finnish and international institutional investors shareholders in Finnforel. These include Ahlström Invest, Finnish Industry Investment Ltd (TESI), the European Investment Bank (European Fund for Strategic Investment), The Good Investors (Ireland/France) and other European family enterprises.
Finnforel’s press conference was held on Tuesday 9th of November from 11.00 am onwards. The recording of the press conference can be viewed here: https://www.finnforel.com/
Read more about Finnforel here: https://www.finnforel.com/
For more information: https://youtu.be/e6Q8LbLddXw
Finnforel Oy is a Recirculating Aquaculture Systems (RAS) facility and Finnish family business specialising in genetics and related technology that was founded in 2017. The company currently has pilot plants in Varkaus, Hollola and Joroinen that produce approximately one million kilos of organically farmed rainbow trout each year. The company's best-known brand is Saimaan Tuore, whose rainbow trout products are available in more than a thousand grocery stores throughout Finland.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211109005798/en/
Contact information
Further information:
Pekka Viljakainen, Chairman of the Board, Finnforel Oy
bulldozer@aii.fi, tel. +358 50 1422
Max Alfthan, Managing Director, Finnforel Oy
max.ahfthan@finnforel.com, tel. +358 40 0461640
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
ATLAS Infrastructure Invests in H2O America, Backs Long-Term Growth Strategy10.3.2026 19:29:00 EET | Press release
ATLAS Infrastructure (“ATLAS”) is a specialist Global Listed Infrastructure investor managing funds on behalf of long-term infrastructure clients. Following the recent equity placement, ATLAS’s actively managed accounts hold ~10.8% voting and economic interest in H2O America (“H2O”). ATLAS was pleased to support H2Os long‑term strategy to invest in local water and wastewater utility operations through our participation in the recent equity raise. ATLAS recognises the disciplined approach from H2O management which focuses on organic investment in existing businesses alongside targeted and accretive transactions such as the acquisition of Quadvest which materially expands H2O’s regulated water footprint in a premium high‑growth jurisdiction. The upsized equity raise, anchored by ATLAS, supports the company strategy through providing significant balance sheet capacity and financial flexibility well into the Company’s 2026-2030 CapEx plan. “Increased investment in water utilities is essent
Svante and Integrated Packaging Company Advance U.S. Biogenic CDR Project to Feasibility10.3.2026 15:57:00 EET | Press release
Svante Technologies Inc. (“Svante”) announced today that its bioenergy with carbon capture and storage (BECCS) project at a paper mill in the Southeast U.S. has progressed to the feasibility study phase. The project is being developed in partnership with an integrated sustainable packaging company, following an extensive screening and pre-feasibility study conducted across several of the partner’s mills. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310319382/en/ During the feasibility study phase, the companies will complete further engineering and design activities, cost and schedule estimates, and risk assessments required to evaluate commercial viability ahead of a future engineering study leading to final investment decision (FID). Svante’s subsidiary, Svante Development Inc., is co-investing in this phase with the mill owner. The project is designed to capture and permanently store more than 500,000 tonnes per year
Forbes 40th Annual World’s Billionaires List10.3.2026 15:43:00 EET | Press release
Forbes releases its 40th-annual World’s Billionaireslist, the definitive ranking of the planet’s richest people. Wealth surged to unprecedented levels over the past year, with fortunes climbing at a record pace. This year’s list features 3,428 billionaires, the most since the list’s inception in 1987. The world’s wealthiest people are worth a record $20.1 trillion combined, up from $16.1 trillion in 2025. Elon Musktops the Billionaires list for the second year in a row and is the richest person ever recorded, worth an estimated $839 billion. His net worth skyrocketed by half of a trillion dollars from last year, thanks to a rise in the value of Tesla, and SpaceX which is aiming to go public in 2026. Musk is the first person ever recorded to reach the $800 billion mark, as he moves toward becoming the world’s first trillionaire. “It’s the year of the billionaire,” said Chase Peterson-Withorn, Forbes Senior Editor, Wealth. “The planet added more than one billionaire per day over the past
Andersen Global Expands African Presence with Addition of Bravura10.3.2026 15:30:00 EET | Press release
Andersen Global strengthens its presence in Africa through a Collaboration Agreement with Bravura, a leading independent tax and financial advisory firm based in South Africa and Namibia. Founded in 1999, Bravura provides tax and financial advisory solutions to listed and private companies, entrepreneurs, and high-net-worth families across the region. Bravura combines deep financial expertise with an entrepreneurial mindset to deliver tailored strategies that drive value. The firm’s multidisciplinary team provides advisory services in mergers and acquisitions, capital raising, corporate restructuring, and succession planning. Additionally, the firm offers tax and accounting strategy, international tax structuring, global mobility, and exchange control compliance solutions. “At Bravura, we’re driven to redefine standards and deliver bespoke, results-driven solutions that create lasting value for our clients,” said Ian Matthews, head of business development at Bravura. “Our collaboration
Adtran sets intra-data center benchmark with all-new ultra-low-power LiteWave800™ LPO module10.3.2026 15:00:00 EET | Press release
Adtran today launched LiteWave800™, an ultra‑low‑power 800Gbit/s DR8 linear pluggable optics (LPO) module engineered to help data centers address the power, latency, thermal and bandwidth demands of modern AI and machine-learning (ML) workloads. As GPU clusters grow and short-reach links scale across dense server racks, operators need 800Gbit/s optics that deliver higher capacity within strict power and cooling limits. LiteWave800™ answers this challenge with a fully re-engineered architecture that significantly reduces energy consumption. Operating at just 1pJ/bit and consuming only 0.8W, it establishes a new power class for 800Gbit/s optics, delivering far lower energy per bit than today’s first‑generation LPOs and mainstream DSP-based pluggable transceivers. Adtran will showcase LiteWave800™ at OFC 2026 in Los Angeles from March 17 to 19. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310344607/en/ Adtran's LiteWave800
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom