2023 Subsequent Offering

Nordic Investment Banking | ABG SC
2022 Annual Report


The time is now


As the world hungers for fresh cod, wild stocks are strained, and fishing quotas cut. Prices spike while supplies are unstable. But it doesn’t need to be this way.

Introducing the world’s first large-scale cultivation of high-quality Atlantic Cod. Respectfully farmed, carefully packed, and timely delivered.

Norcod is listed on Euronext Growth on Oslo Stock Exchange.

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Norcod is proud to announce that our 2023 Q1 report is out. The report details how Norcod is in a strong position to start commercial sales this summer, having seen exceptional biological performance and received positive market feedback. We continue to be on track to meet our goal of becoming a leading and highly sustainable cod farming company.



Settling new aquatic territories


For the very first time, premium quality Cod can now be produced successfully on a large scale.

Our commercial breakthrough arrives in a time where the market is increasingly demanding stable deliveries of fresh cod. Meanwhile, the wild fish population is under pressure, leading to smaller fishing quotas and growing prices.

All agreements and permits are in place. And so are our production capabilities from fry to harvesting, processing, and distribution. We have a highly stable production that’s been in development since 2002.

These factors place Norcod in a truly unique position.

Robust price environment on the back of a high demand for Atlantic Cod
Large steps have been taken in biology > commercially farmed cod is viable
Norcod has superior quality and freshness
Ability to deliver through the year (as opposed to wild cod), ensures premium prices
Oceans of opportunity


Current license capacity to reach a run-rate harvest profile of 6,000 tons within 2021
Firm plans and applications have been mapped out to reach 24,500 tons
Exclusive agreements for critical input factors
Solid off-take agreement with Sirena Group secures transparent sales strategy
Board of Directors

Renate LarsenCOB
– 6 years experience as CEO at Norwegian Seafood Council
– Previous experience as CFO at Lerøy Aurora

Jan Severin Sølbæk
Board member
– CEO, Artha Holding A/S
– Compresensive Executive Board Experience
– Proven M&A track record
– Extensive start-up
– Banking background

Trine Danielsen
Board member
– CCO at Blue Planet Academy A/S
– Previous experience as State secretary in Norway’s Ministry of Trade, Industry and Fisheries

Peter Buhl
Board member
– 35 years as co-founder and president of Sirena Group
– Co-founder of Whitecap International Seafood Exporters

Boe Spurré
Board member
– CEO at Sirena Group
– 5 years as CFO at Sirena Group

– Previous experience as Finance Director at ISS Damage Control
– CEO and CFO at Ketemyl
– Former auditor at EY

Management group

Christian Riber
+47 905 37 990

Hilde R. Storhaug
+47 958 66 964

Kia Zadegan
+47 915 85 801
Tsjipke Deuzeman
+47 977 83 336

Arne Kristian Hoset
+47 988 10 282

Julianne Jacobsen
Fish Health Manager
+47 950 87 617

Ingrid Johansen
+47 413 39 133

Marthe Skånøy Halvei
+47 902 61 023

Martin Waade
Technical Manager
+47 456 01 729


Norcod has formed strong partnerships with industry leaders across all key areas of the company’s supply chain. Major partners include Sirena Group (Distribution and Sales), Havlandet Marin Yngel (Broodstock), Aller Aqua (Feed), and Nofima (Research & Development).

Investor relations


Please use the contact form for any inquiries regarding Norcod Investor Relations. A member of our team will respond to your message as soon as possible.