Nofitech

Nofitech, based in Trondheim, Norway, specializes in advanced aquaculture technologies, focusing on the design and implementation of efficient Recirculating Aquaculture Systems (ModulRAS) for fish production. Nofitech was founded in 2011 in Trondheim, Norway, and has developed innovative solutions for the aquaculture industry. The company has successfully completed 2 deals, with the most recent deal occurring on July 5, 2021. Geir Løvik is the founder, while Robert Hundstad serves as the current CEO.

Nofitech specializes in the design and delivery of ModulRAS (Recirculating Aquaculture Systems), tailored for all phases of fish production, including smolt, postsmolt, grow-out, and broodstock stages. These systems feature a compact design and standardized prefabricated units, optimizing operations while minimizing space and costs. They operate effectively in both freshwater and seawater, catering to clients in Europe, North America, and Asia. The Nofitech Academy offers training programs for safe and effective system operations, enhancing client satisfaction.

In 2023, Nofitech generated revenue of USD 65. 07 mn, with an EBITDA of USD 403,879. 4. Revenue is driven by B2B sales of ModulRAS systems and associated services, including e-learning, on-site training, and operational manuals, ensuring steady income from clients with tailored pricing based on unique aquaculture needs.

Following the acquisition of a 50% majority stake by Summa Equity in July 2021, Nofitech aims to enhance production capabilities. The company plans to introduce new products tailored for various aquaculture applications and expand into additional markets, particularly in Europe and Asia, by 2024. Recent funding will support these initiatives, facilitating increased production capacity and market reach.