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Turning seaweed into profits

first_imgTurning seaweed into profits From: Atlantic Canada Opportunities AgencyAtlantic Canadian entrepreneurs must take advantage of emerging opportunities to compete globally and create good jobs in the region. That is why the Government of Canada is helping innovative start-up company SeaChange Biochemistry Inc. commercialize its sustainably sourced chemicals from seaweed.December 16, 2020 · Cape Sable Island, Nova Scotia · Atlantic Canada Opportunities Agency (ACOA)Atlantic Canadian entrepreneurs must take advantage of emerging opportunities to compete globally and create good jobs in the region. That is why the Government of Canada is helping innovative start-up company SeaChange Biochemistry Inc. commercialize its sustainably sourced chemicals from seaweed.Federal investements in innovationToday, the Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for South Shore – St. Margarets, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, announced a repayable contribution of $250,000 to SeaChange for specialized bio-refinery equipment.The new equipment will enable SeaChange to extract high value chemicals from seaweed that are in growing demand in the food and beverage, cosmetic and pharmaceutical industries. By scaling-up its operations, the company will be able to pursue new market opportunities, increase its revenues and create jobs.Today’s announcement shows the Government of Canada’s commitment to Canadian businesses – helping them not just survive, but thrive. Projects like this one will help ensure that small- and medium-sized enterprises are able to contribute to Canada’s economic recovery.Quotes“Canada needs strong businesses in every corner of the country to ensure a successful economic recovery after the pandemic. When we enable entrepreneurs to grow their ideas into innovative businesses, we are helping them create good-paying jobs and contribute to growing the regional economy.”– The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA“Women entrepreneurs and women-owned businesses are playing a vital role in Canada’s emerging blue economy. To further this growth, our government is supporting innovative partners like SeaChange that are leading the way in ocean technology. We will continue to invest in sustainable ocean industries and create greater economic opportunities in our coastal and rural communities.”– The Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for South Shore – St. Margarets“Assistance from government organizations such as ACOA is critical to give start-ups a genuine chance of success.”– Sabrena MacKenzie, CEO, SeaChange Biochemistry Inc.Quick factsSeaChange’s completely green process extracts several chemicals from a single piece of seaweed, which costs less than traditional processing methods and is a sustainable, zero waste process.This project builds on a previous investment from the Atlantic Canada Opportunities Agency‘s (ACOA) to help SeaChange identify potential customers for its chemical products in different industries.The funding for this project is provided through ACOA’s Regional Economic Growth through Innovation (REGI) program /Public Release. 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