Fredrik Emil Riise Langehaug has been appointed as managing director of Endúr ASA’s wholly owned subsidiary Artec Aqua, which is about to embark on a new growth phase. The company is recognized as one of the world’s leading suppliers of technical infrastructure for land-based fish-farming facilities.
Langehaug takes on the managing director role one year after joining Artec Aqua as chief financial officer (CFO). Prior to joining Artec Aqua, he spent seven years with PwC. He holds a master’s degree in finance from the Norwegian School of Economics – NHH.
Langehaug succeeds Ingegjerd Eidsvik who has decided to seek opportunities outside Artec Aqua after leading the company for the past six years.
“It is no secret that the past 18 months have been challenging for Artec Aqua, partly due to Norwegian authorities’ unpredictable halt in awards of new licenses for land-based fish farming, which coincided with a period of rapidly rising inflation and interest rates. As we are now seeing signs that the new regulations are finally coming into place, and Artec Aqua is in the start-up phase for several large projects, Ingegjerd has come to the conclusion that now is a good time to hand over the baton to someone who is fully motivated for leading Artec Aqua into its next substantial growth phase. We are grateful for Ingegjerd’s contribution towards establishing Artec Aqua as one of the world’s leading suppliers of technical infrastructure for land-based fish-farming facilities, and we are very pleased that Fredrik will ensure valuable continuity by heading up the company,” says Jeppe Raaholt, CEO of Endúr ASA.
In addition, Anne Ma Skorpen Tomren, current VP HSEQ in Artec Aqua, will take on the role as head of projects in Artec Aqua, reporting to Fredrik Emil Langehaug.
“Artec Aqua’s new management team knows the company and its operations very well. We are delighted that they have accepted their new roles,” adds Jeppe Raaholt.
Artec Aqua has lately realized significant order backlog growth following the FID of Salmon Evolution phase 2 in Norway. Further, in early September Artec Aqua won a smolt production facility contract from Sævareid Fiskeanlegg AS with a maximum contract value potential of more than NOK 600 million. Artec Aqua is also positioned to become turnkey supplier to Geo Salmo’s land-based salmon farming facility on Iceland once the FID has been made.