© Laxey
With this round, Laxey has now raised a total of €63 million in equity in 2025, including a €35 million private placement completed earlier as part of a larger €130 million capital package combining debt and equity.
The country’s three largest pension funds now join Laxey as shareholders: LSR – The Pension Fund for State Employees in Iceland, LIVE – the Pension Fund of Commerce, and Gildi Pension Fund, alongside prominent private investors. After the equity increase, the family of Sigurjón Óskarsson remains the leading shareholder with a 38 percent stake, strategic international investors hold about 21 percent, and Icelandic pension funds hold approximately 20 percent.
This capital increase secures, among other things, the financing of a large smolt facility that will be located in Viðlagafjara next to the grow-out tanks and will receive 100-gram smolt from the company’s smolt station. The facility will be equipped with eight 1,100 cubic metre tanks in a covered building, ensuring maximum utilisation of production capacity, biosecurity and operational reliability.
Production at Laxey’s smolt station remains on track, with the first batch transferred to the grow-out phase in November 2024, now averaging 2 kg. Harvesting is expected in November 2025, aligning with the company’s initial timeline.
Construction of section 2 underway
Work has started on Section 2 of the Laxey grow-out station. The exterior walls of the first grow-out tank have already been erected and construction continues on schedule. This section will support increased production capacity and strengthen the company’s infrastructure.
“We view this successful financing as confirmation of the confidence investors have in the company and our vision for the future. We are happy to further strengthen our shareholder group, which will reinforce the company and support our journey” says Lárus Ásgeirsson, chairman of Laxey’s board, in a press release.
