Potential New Revenue Stream for Shrimp Fishery Investigated18 November 2013
CANADA - Multi-species seafood company, Quinlan Brothers Limited, will explore the viability of extracting Omega 3-enriched oil from shrimp waste with C$100,000 of support through the Provincial Government’s Fisheries Technology and New Opportunities Program.
“The Provincial Government is driving the economic success of the fishery by supporting initiatives that improve profitability and global competitiveness, which in this case involves supporting research to determine if meaningful revenue can be derived from shrimp shells,” said Keith Hutchings, Minister of Fisheries and Aquaculture.
Preliminary research by the Bay de Verde based seafood processor has shown that oil can be derived from shell waste that is highly valued as a premium nutritional supplement. Quinlan Brothers Limited is availing of external expertise to extract the oil and bring samples to market, and will expand on its current activities by improving the way it collects and pre-treats its shell discards.
“I commend Quinlan Brothers Limited for its commitment to pursuing innovation in its business practices, and wish the company all the best with a project that may identify a new economic opportunity for processors that had not been seen previously,” said Charlene Johnson, Minister of Innovation, Business and Rural Development and MHA for Trinity-Bay de Verde.
The funding provided by the Provincial Government will support a number of activities, including additional market research, plant modifications, sample production, and an assessment of what is required to meet the food and drug regulations of international markets.
“We appreciate the support of the Provincial Government as we continue to investigate ways to achieve greater utilization of our shrimp resource, minimize waste, and create greater value for the company and its employees,” said Robin Quinlan, Vice President Quinlan Brothers Limited.
Through sound fiscal management and responsible decisions, the Government of Newfoundland and Labrador is strengthening the business environment, encouraging the development of innovative industries, and building a vibrant economy.
TheFishSite News Desk