Salmon Farm Technology Firm Raises Targets on Investment Surge

As salmon farmers pour money into solving the problem of how to increase production while keeping control of lice in their pens, a Norwegian developer of aquaculture technologies is boosting its targets for the sale of everything from deepwater nets to AI-controlled feeding systems.

AKVA Group ASA, based on the southwest coast of Norway and whose client list includes the heavyweights of the salmon farming industry, sees revenue growing 40% through 2027 and doubling by 2030, it said ahead of its capital markets day Thursday. It also expects earnings before interest and taxes to grow to 9% in 2027 from 5% in 2024.