We are proud to announce that we have assisted Creadev, SWEN Blue Ocean and Stellar Impact (Telos Impact) with the private placement of 16 million euros in Noray Seafood AS.

Noray Seafood AS is land based shrimp farming company. The company uses microbial technology allowing them to farm shrimps indoor 300 kilometres from the shore, reducing the impact on the ocean and its bacterial environment. The shrimps are bred in Europe for the European market, without antibiotics or chemicals, and the proceeds from the private placement will be used to ramp up the company's production capacity in Medina, Spain about 1.5 hours north of Madrid.

The investment was led by Creadev International SAS with co-investors SWEN Blue Ocean and Stellar Impact (a vehicle managed by Telos Impact) and existing investors. Creadev is an evergreen investment company operating worldwide from Paris, New York, Shanghai and Nairobi, focusing on food and agriculture, health and sustainable consumption. SWEN Capital Partners is a leading player in responsible investment in European unlisted assets with EUR 6.8 billion under management, while Stellar Impact is a family-owned impact investment firm active in the areas of food transition, plastic pollution and water. Telos Impact advises investors who want to put their capital at the service of achieving impact.

From Wikborg Rein the core team comprised of Ingrid Weltzien, Magnus Øie, Alexander Bernhard Wintervold and Ole Henrik Wille as partner in charge.

For more information about the investment, please see:

• The Fish Site
• Intrafish
• Creadev