Proximar strengthens operational capacity with appointment of Martin Vestergaard as new Chief Operating Officer

26 Mar 2026 09:00 CET

Yokohama, March 26, 2026: Proximar Seafood AS (“Proximar”) today announced the
appointment of Martin Vestergaard as its new Chief Operating Officer (COO). Mr.
Vestergaard brings more than 20 years of experience from the fish farming
industry, with a strong background in RAS production and management. His
appointment strengthens the company’s operational leadership as Proximar moves
from its initial production phase into stable, full-scale commercial operations.

“Martin has spent his career building and running RAS operations with a strong
focus on biological and operational performance, and we are very pleased to have
him onboard. Proximar has established a unique position as Japan's first
producer of locally farmed Atlantic salmon and is now moving into a phase of
stable operations and increasing harvest volumes. Moving forward, Martin will
play a key role in realizing the company's full potential,” says Joachim
Nielsen, CEO of Proximar.

Dharma Rajeswaran, who has served as COO since January 2022, will remain at the
company in the role of Farming Advisor. His thorough knowledge of the facility
and broad aquaculture experience will continue to benefit the organization going
forward.

“I would like to thank Dharma for his significant contributions to the
development of our operations and organization. His continued role as Farming
Advisor ensures we retain his experience, insight and understanding of the
facility as we continue to refine and optimize performance,” Nielsen continues.


More than 20 years in RAS fish farming

Martin Vestergaard has more than 20 years of experience in fish farming and RAS
operations, including 12 years with Aquapri in Denmark and subsequent farm
management roles in Switzerland, most recently at Swissfish and Valperca SA. He
will be based at Proximar's facility in Oyama, Japan, where he will oversee
day-to-day operations and work to ensure continued improvements in technical and
biological performance.

“I am very pleased to be joining Proximar at this exciting stage of the
company's development. The company has come a long way since its inception and
has built a strong operational foundation, and I look forward to working with
the team to deliver consistent, high-quality production results going forward,”
says Martin Vestergaard.

For more information, please contact:
Joachim Nielsen, CEO, ir@proximar.com

About Proximar Seafood
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility and production at the foot of Mount Fuji in Japan. The
company inserted its first batch of eggs in October 2022 and carried out its
first harvest on 30 September 2024. Proximar’s brand and logo (Fuji Atlantic
Salmon) was officially launched in October 2024 at our partner Marubeni
Corporation’s head quarter in Tokyo. Through land-based salmon farming, using
high-quality groundwater secured close to Mount Fuji, the company supplies the
market with fresh Atlantic Salmon, harvested the same day. Proximar's location,
near one of the world's most important fish markets, implies significant
advantages, such as reduced cost and carbon footprint.

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