We are excited to announce that Ólafur Karl Sigurdarson has been appointed as the new Deputy CEO of KAPP. In this role, Ólafur will work closely with our CEO, Freyr Fridriksson, to manage daily operations and will also be responsible for the build-up, development, and management of KAPP’s international expansion. This appointment marks a significant step forward in our growth strategy, especially following last year's investment by the IS HAF fund, which acquired a 40% stake in KAPP to support our ambitious plans. 

KAPP is an Icelandic technology company with a focus on refrigeration services, as well as the production, sales, and servicing of equipment for the fishing industry, aquaculture, and other sectors. We have seen success globally with our products, such as the OptimICE Liquid Ice Machines and the RAF Injection Machine System. OptimICE, in particular, has revolutionized the industry by providing liquid slurry ice made from seawater directly onboard ships, effectively replacing traditional flake ice. 

We believe that there are significant opportunities for our products among fishing companies, especially on the West Coast of the United States, in Canada, and in Alaska. The appointment of Ólafur is a critical part of our journey to expand into these markets. 

Ólafur brings a wealth of experience to KAPP, particularly in the fishing industry. He spent nine years at Marel, where he played a key role in leading the service division and product development for the fish industry. Most recently, he served as the Executive Vice President of Marel’s Fish Division and as Managing Director of Marel in Iceland. His extensive background makes him a valuable addition to our team as we continue to grow and innovate. 

"KAPP is a remarkable company built on a strong foundation with clear growth objectives," Ólafur said. "The company's reputation is strong, based on good values along with a powerful workforce and ownership. I am very much looking forward to getting to know the company better and the strong team working there, as well as supporting the company's next growth phase. There are great opportunities for KAPP to become a leader in ensuring positive impacts on the global food value chain in the future." 

Freyr Fridriksson, CEO of KAPP, echoed these sentiments, stating, "We, the owners and the board of KAPP, are pleased to have such a strong addition to the company. Ólafur's experience will be invaluable for KAPP's further growth." 

With Ólafur joining our leadership team, we are confident that KAPP will continue to thrive and expand its impact globally. We look forward to the future and the many opportunities that lie ahead.