The new company, Ode Namdal AS, will be a subsidiary in Ode, operate as a fully integrated part of Ode and develop six sea sites in Central Norway.

The current production capacity is 11,700 tons, with the potential to grow to more than 25,000 tonnes over time, taking Odes current annual production capacity to more than 60 000 tons. Operations start immediately at two of the sites, and the remaining sites will be brought into operation over the coming years.

“Over time we have formed a strong relationship with Namdal Settefisk, and we are confident that together we can create the same success in Trøndelag as Ode has achieved in North-West Norway. Our goal is to contribute to increased production of healthy and sustainable food. The UN is clear that aquaculture must grow by 75 per cent by 2040 to reach our global climate goals. This is a fantastic opportunity for Ode and part of our journey to become an even better seafood company,” says Ola Kvalheim, CEO of Ode.

Fresh cod every week of the year

Farmed cod is a new and growing category in global seafood markets. Ode is uniquely positioned to deliver to our customers a wide range of products every week of the year, with high and stable quality, predictable delivery and access. Developing and growing the category depends on being a reliable partner for customers. Secured license capacity is important to facilitate further investments and growth in the industry.

“Our customers want a range of exciting and innovative cod products with high and consistent quality and reliable and predictable supply every week of the year. That is how they succeed and we develop a category together. The new sites increase our capacity and strengthen our position as a solid and predictable supplier with growth runway the next 5 years. That allows us to make long-term commitments to retail and foodservice partners and build farmed cod as a category in our key markets,” says Kvalheim

‍Fully integrated value chain and processing in Norway‍

Ode has a fully integrated value chain for farmed cod, from hatchery to harvesting, processing and sales. The company is now investing heavily in processing and value added production in Norway and abroad. These investments will facilitate important and exciting product development, to drive more consumers to add cod products from Ode to their eating habits.

“We look forward to developing this partnership with Namdal Settefisk. Trøndelag is a leading aquaculture region, which gives us an excellent starting point for developing both the company and the industry further. Through Ode Namdal AS we combine Namdal Settefisk’s sites with Ode’s expertise, market strength and commitment to create strong local communities where we operate,” says Tor Olav Seim, SVP Business Development at Ode.‍

Jobs and activity in the region‍

Ode has recently been recruiting site managers, assistant site managers, operations technicians and apprentices for the first two sites in Nærøysund. When all six sites are in full operation, they will provide more than 50 direct jobs and generate significant ripple effects in the region. Experience shows that every direct job in aquaculture creates at least one more at local suppliers.

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