Farvatn Private Equity and Måsøval Eiendom have invested in the Norwegian biotechnology company Hyperthermics AS.
Through the investment, Farvatn and Måsøval now hold approximately 11% of the shares in Hyperthermics.
Hyperthermics’ technology is based on hyperthermophilic bacteria, which degrade biomass, resulting in biogas and protein production. The high temperatures involved – 80ºC – speed up decomposition and increase the capacity of the production facilities.
The company said during the production of protein from, for example, fish sludge, a proportion of biogas is also generated, which can be used for operating the plant. The protein powder is filtered, dried and packed in bags on site. The powder can be used as an ingredient in feed for pets, for example.
Hyperthermics said the main markets are biogas producers and fish farmers. However, its plants are also relevant for dairies, breweries and other industries generating organic waste.
“Both Farvatn and Måsøval are involved in aquaculture and fish farming,” said Erlend Haugsbø, CEO of Hyperthermics. “The aquaculture industry is investing heavily in becoming greener, and our solutions contribute, among other things, to transforming fish sludge into a valuable resource.”
Haugsbø added many of the company’s shareholders are involved in biogas production or fish farming, which he said means they have an interest in the successful commercialization of the Hyperthermics technology.
Tore Hopen, CEO of Farvatn Private Equity, said, “Climate, environment, and energy are very relevant topics. We believe in Hyperthermics’ unique approach to converting waste into climate-neutral energy and proteins.”
Earlier this month, Norwegian company Hofseth Aqua announced an expansion of its land-based post-smolt plant in Tafjord, and chose Hyperthermics as a partner for sludge management solutions.
Haugsbø said: “With our biotechnology, we will contribute to solving an environmental problem by making the waste into high-quality products, and the verification in Tafjord will open up great opportunities for us. More and more land-based and closed fish farms are built worldwide, and environmental requirements are tightened in most countries.”
The plant will be operational in the first quarter of 2023.
Hyperthermics said it is now working on several projects within land-based farming and closed farming in the sea. One of these is Hofseth’s giant World Heritage Salmon project in Røbbervika.
Cover image: Knut Eilert Røsvik, Hofseth International AS (right), and Erlend Haugsbø Hyperthermics AS. Pic: Hyperthermics