Upstream AS is very happy to share that we through a recently completed share expansion process now have a good foundation to enter the design phase of our project in Norway. The total financing of the project is planned in three main steps. First the founders and Ål kommune buildt an economic basis for developing the process, and to finish the work with the Aquaculture Emission application and the Regulation Plan for the area for the Aquaculture site. The expansion now; Step 2 will enable the company to complete the design phase, and after this the company will open up Step 3 for financing the building phase.
We have in this recent process primarily reached out to local companies, and also had in mind that our new team should have complementary knowledge and network to bring into our company. The new partners will absolutely fill this role. They have all expressed the same motivation for entering Upstream AS, which is to develop the local and regional business life through a highly sustainable and circular-economic establishment. We will further down introduce our new shareholders. Upstream willl also thank Hallingdal Næringshage by supporting this process all the way, and also Revisorteam by Ole Gunnar Gaptjern has supported the process.
Vidju Holding AS
Vidju is a company owned by the six municipalities in Hallingdal. They have a wide spectre of services within their core business, which are energy and fiber infrastructure.
"Joining Upstream AS as a shareholder is another step for Vidju to contribute to the "green shift"; In this case materialized by a sustainable exploitation of energy and waste.
Kleivi Business park is an important area for us and for Hallingdal. We will contribute to a holistically development of this area, by sustain and develop the businesses and make synergies. Vidju has one third of the ownership in Hallingdal Trepellets, and it is a great opportunity for us to look into the potential for synergies with the bio char from the sludge from the aqua farm. This can both solve a waste issue and provide energy for Hallingdal Trepellets and Upstream."
Audun Grynning
Veidekke Entreprenør AS
Veidekke is the biggest building entreprise in Norway, and is also a local player in the regional markets around Norway. Veidekke has a climate target verified by Science Based Target Initiative, and we have comitted ourselves to reduce our emission to reach a 0 emission target by 2045. Veidekke want to be in the lead in the green shift, has in 2024 won achievements for hydrogen investment in the asphalt industry and for our groundbreaking work with low carbon concrete and recirculated materials that sho how innovation and cooperation can reduce the climate footprint in the building industry.
It is really exciting to be a part of forward-looking project like the establshment of the Aquapark in Hallingdal.
We think it is important with sustainable production of healthy and good food.
This project supports the Strategy of Veidekke, an we hope we can contribute in this development of circular economy and reduce the emisions of greenhouse gases as a courtesy to our children and grandchildren.
Geir-Ole Nilstad
Head of Department
Veidekke Hallingdal
Arnegård Holding AS
Arnegård Holding AS is owned by Bernhard Tandberg, well known in Hallingdal for his contribution to develop Nesbyen to a complete destination with golf course, alpine skiing, mountain biking and a lot more. He is educated as a lawyer with experience from the well known company Deloitte. Bernhard is known as instrumental for the development of Destination Nesfjellet.
Alpen Holding AS
Alpen Holding AS is an investment company with main focus on investments in property, papers listed on the stock exchange and innovative companies in start-ups.
The company is 100% owned by Odd Terje Alpen who has a connection to Hallingdal through family in Nesbyen. He has previously - and ongoing business through investments in Nesbyen and has a leisure property there.
Odd Terje Alpen (52) has a Master of Science in Business and has extensive experience within establishing small and medium size businesses.
Sundbrei Transport AS
Sundbrei is our nearest neighbour in Kleivi Business Park. It is very obvious that a close cooperation between Sunbrei and Upstream AS will be beneficial in several areas, as transportation of products and feed, collecting organic waste for the bio char production and other operational synergis. Sundbreis focus on building a green transportation flee will contribute to reduce our overall footprint.
"Upstream`s Aquapark is a very exciting project that will make Hallingdal an attractive and "cool" place to live.
We in Sundbrei can see several obvious synergies for ourselvs and Kleivi Business Park as a whole. Upstream`s project has a very high focus on sustainability and circular economy which fits our objective to be one of the leading companies in Hallingdal related"
Finn Arne Sundbrei, Manager
Morefish AS
Morefish AS has supported Upstream AS the last year by making production plans, taking water samples ,and was instrumental in Upstream`s application for the establishment to the governmental sector authorities.
Morefish AS is a consulting company specialized in land-based aquaculture,such as recirculating aquaculture systems (RAS), as well as flow through systems operated with fresh- or seawater. They provide technical, biological and operational expertise to support the sustainable development, management, and optimization of aquaculture facilities and operations.
The company are designing and establishing new facilities, including RAS design and dimensioning, as well as the enhancement of existing plants through redesign and improvement. For Upstream AS, Morefish also has a very strong focus on circular economy and are running a test facility for Aquaponics in Portugal.
It is very important to get Morefish into our team as an owner with such deep knowledge of land based fish farms and within aquaponics.
"Upstream AS is a very interesting project that challenge our staff to find innovative solution that has never been seen before in landbased aqua farming.
The finding and the results from this could be a gamechanger for the aquaculture business and Morefish want to follow this closely for learning and adapting.
The total circulareconomic thinking behind this project differ it from everything else we´ve seen.
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