Bluefront Equity has increased its share of aquaculture technology firm, Redox, to 82%.
The seafood investor became the majority shareholder in May 2021 with a 52% share.
Kjetil Haga, partner at Bluefront Equity and board member in Redox, said the company was developing on track. “There is strong demand for the company’s products from the aquaculture industry,” he said.
“The company has developed an exciting NOx-reducing technology for use in the land-based process industry,” he added.
Redox is an ozone and oxygen specialist that develops environmentally friendly technologies focused on fish welfare and biosecurity. The company is headquartered in the Averøy municipality in Møre og Romsdal county, Norway.
Redox has developed an ozone system that ensures a bacteria-free production facility. Ozone is 50% more powerful and reacts 3,000 times more quickly than chlorine, and it is both safer and more environmentally friendly compared to chlorine and other antimicrobial agents.
Selling the shares in the transaction is Sirø Invest, the investment company of Redox’s business developer, Sigmund Røeggen. The parties have not disclosed the financial details.
