Matorka raises €2.7m from shareholders
Capital will fund infrastructure improvements and production increases for Arctic char farmer
Icelandic Arctic char farmer Matorka has raised €2.7 million (£2.35m / NOK 29.7m) in capital, its financial advisor, Mar Advisors, announced.
The private placement was fully subscribed by existing shareholders and will fund the land-based fish farmer on its path to 3,000-tonne annual production capacity, said Reykjavik-based Mar Advisors in a post on LinkedIn.
“I am eternally grateful for our shareholders for their ongoing support. This raise enables us to continue on our path of improving infrastructure and increasing production,” said Matorka managing director Christo du Plessis on LinkedIn.
Volcanic eruption
Matorka’s facility is sited outside Grindavik, the town damaged by a river of larva and ground upheaval from a volcanic eruption in 2023. Four of the company’s tanks were damaged, and one of them – full of ready-to-harvest fish – was lost due to quakes related to the eruption. The company has been rebuilding and enhancing facilties.
In October last year, Du Plessis told LandbasedAQ that both the repair work and the installation of new borehole pumps to increase water supply by 25% were going according to plan.
Best year ever
Despite reduced production capacity, 2025 had been a very good year for Matorka up to that point, he said.
“Our forecasts show that 2025 will be our best year ever in terms of both harvests and sales. The hatchery has produced a record number of fry, which bodes well for production in 2026. We look forward to an improved growing environment when 25% of the tank capacity is restored and we have access to more water. Both of these improvements will be in place before the end of the year.”
