The Government has committed more than $2 million over four years to support Sealord’s business development arm to assist in the development of new products from fish waste.
GM Business Development & Sustainability Stu Yorston says the grant from the Ministry for Primary Industry’s Sustainable Food and Fibre Futures fund (SFF Futures) is a huge boost to support work underway to develop and launch garden fertiliser and pet food products made from fish by-products.
“We’ve signed the four-year Fish Waste Optimisation agreement with MPI, and it’s hugely exciting. It’s been a year-long effort working alongside the team at MPI.” Stu says it makes sense to develop new consumer goods from the by-products of Sealord’s sustainably harvested fish species.
“We utilise over 99% of the fish currently with the main by-product (after filleting) being fish meal, however we want to develop new products with better yields and higher prices. New Zealand’s deepwater fisheries are a clean, bountiful source of seafood rich in essential nutrients. Sustainability is at the heart of our business and this business opportunity is just one of the ways we are working smarter in this space.”
CEO Doug Paulin says the seafood industry and the Government are keen to work together to grow seafood export revenue. “We have a shared goal to continue to grow the sector while caring for the marine environment and being focused on innovative new ways of doing things.”
“Our SFF Futures agreement is a significant step forward for Sealord in developing new revenue streams in a very challenging economic environment. The funding is additional to Sealord’s own investment in people and marketing spend,” he adds.
With the funding confirmed, Sealord can accelerate the launch of Sealord Naked, an organic range of garden fertiliser that will be available in all good gardening retailers from mid- September.
In addition, a fertiliser for commercial application is now being researched that could be used to replace synthetic fertilisers in viticulture, horticulture and even golf courses.
The SFF Futures funding agreement will also enable Sealord to develop a range of pet food ingredients for pet food manufacturers to be launched in 2025, as well as produce Sealord branded pet food in 2026.
