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Proximar Seafood AS announced 17th October that it had successfully raised NOK 250 million in a convertible bond, further funding the company’s construction and operational start-up of a land-based salmon farming facility at the foot of Mount Fuji in Japan. In conjunction with this, Marubeni Corporation (“Marubeni”) has invested MNOK 21 in the convertible bond.
“The construction of our land-based salmon farming facility in Japan is on track, both on time and cost, and we are now initiating the production phase. A completion of this capital raise enables us to fully focus on the operational start-up. Having Marubeni even as an investor is a great milestone and of strategic importance for us. It follows the good cooperation already established for the sales and marketing of our product”, says Joachim Nielsen, CEO of Proximar Seafood.
Proximar has - from inception – executed on its partnership strategy with relevant parties to secure a strong platform for future operations. Marubeni’s investment is in line with this strategy and brings in important dimensions when it comes to marketing and sales and other local synergies in Japan.
Marubeni Corporation is one of Japan’s largest conglomerates, with extensive business activities and presence worldwide.
“With Marubeni’s participation even as an investor, we see Proximar’s credibility further strengthened in Japan. We are confident that this will be valuable in many ways going forward. Marubeni is a large and reputable player in Japan, and we are very pleased about the strengthening of our partnership” says Joachim Nielsen, CEO of Proximar.
Marubeni and Proximar signed a 10-year sales and distribution agreement in April this year.
For further information and questions, please contact:
Joachim Nielsen, CEO, Proximar Seafood AS
Tel: +81 2811 9898
Email: jn@proximar.com
Pål K. Grimsrud, CFO, Proximar Seafood AS
Tel: +47 99477599
Email: pkg@proximar.com
About Proximar Seafood
Proximar Seafood is a Norwegian land-based salmon farming company with its first production facility currently initiating operations at the foot of Mount Fuji in Japan. Through land-based fish farming, using high-quality ground water secured close to Mount Fuji, the company will produce fresh Atlantic Salmon, harvested the same day. Proximar’s location, near one of the world’s most important fish markets, implies significant advantages, both in terms of reduced cost and carbon footprint.
About Marubeni Corporation
Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, ICT business & logistics, food, agriculture business, forest products, chemicals, metals & mineral resources, energy, power, infrastructure project, aerospace & ship, finance, leasing business & real estate business, construction, industrial machinery & mobility, next generation business development and next generation corporate development.
Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.
In April 2020, Marubeni invested into Danish Salmon A/S in Denmark, one of the larger land-based RAS facilities for full scale production of salmon.
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