Ode and Namdal Settefisk Form Joint Venture Ode Namdal to Develop Cod Farming in Central Norway

On 12 November 2026, Norwegian cod farming company Ode and Namdal Settefisk announced the formation of a joint venture to develop cod farming in the Namdalen region. The new company, named Ode Namdal, will operate and develop aquaculture activities in the three municipalities of Namsos, Nærøysund and Flatanger.

Under the plan announced by the two parties, the company will bring all six sites into operation over the coming years. These sites currently have a combined annual capacity of 11,700 tonnes, with the potential for further expansion to more than 25,000 tonnes in the future.

Ode Group CEO Ola Kvalheim said in the press release that the company and Namdal Settefisk have built a good collaboration over time, with the goal of driving growth in the production of healthy, sustainable food in Nord-Trøndelag through industrial activity, employment and spillover effects. He noted that the United Nations has clearly stated that aquaculture needs to achieve 75% growth by 2040 in order to meet global climate targets.

Kvalheim also said that Namdal's local knowledge, expertise and existing activity in the region, combined with the value chain and organisational structure Ode has established, form the basis for the partnership's success; Trøndelag is a world leader in aquaculture, and the company has been welcomed by local industry players, municipalities and the county level.

Namdal Settefisk has built a solid position in Namdalen over many years, with operations including juvenile fish production, its own slaughter and processing plant in Flatanger, and an extensive regional network. The company has long promoted the local development of cod farming.

Namdal Settefisk CEO Kåre Jarle Devik said this is a significant investment in Trøndelag and Namdalen as an aquaculture region, that the company has worked for a long time to establish cod farming locally, and that it considers Ode a suitable partner. Combining the company's sites and experience with Ode's value chain, market position and organisational structure can create a company with considerable opportunities, bringing activity and significant spillover effects to the regional industry and local communities. He said one of the company's most important goals will be to develop licences and fish production in Namdalen to ensure that the Flatanger slaughter and processing plant can operate year-round.

For its part, Ode describes itself as the world's leading farmed cod producer, with a fully integrated value chain from hatchery and slaughter to processing and sales. The company is currently stepping up investment in downstream processing in Norway to retain more value creation domestically. This investment provides permanent jobs in the farming segment while also generating orders for service vessels, suppliers and local industry across municipalities.

Ode's Head of Strategy and Business Development, Tor Olav Seim, said he looks forward to launching this investment and developing the collaboration with Namdal Settefisk, calling it an exciting project with great opportunities for local activity and spillover effects; Trøndelag is a leading aquaculture region and provides a good starting point for continuing to develop the company and the industry. He said that through "Ode Namdal AS", Namdal Settefisk's sites combined with Ode's expertise, market strength and investment in domestic Norwegian processing will provide jobs where value is created.

Following the establishment of the new company, two of its sites will enter operation immediately. Ode has recently been recruiting an operations manager, deputy operations manager, operations technician and apprentice for two on-growing sites in Nærøysund municipality. When all six sites are operating at full capacity, they will provide more than 50 direct jobs, along with significant spillover effects in local communities and the region. The company cites experience showing that for every additional direct employee in the aquaculture industry, at least one more job is created at local suppliers.