The decision has been triggered by the Government's decision to open for commercial harvesting of Calanus finmarchicus and the increasing demand for the company's products.
Tromsø, Norway, June 4, 2019.
Calanus AS is a Norwegian biomarine company pioneering harvesting and utilization of the copepod Calanus finmarchicus. The company has developed the entire value chain for sustainable harvesting and biorefining of the hitherto unused resource C. finmarchicus, which is Norway's largest renewable and harvestable marine resource. Calanus AS manufactures unique health and nutrition products that are for sale or under launch in several countries. Based on the Government's decision to open for commercial harvesting of C. finmarchicus, and increasing demand for the company's products, Calanus AS has now decided to build the first full-scale industrial pilot plant for biorefining of C. finmarchicus. The plant will be located above the Arctic circle, in Sortland in northern Norway.
CEO Gunnar Rørstad in Calanus AS states: “We are pleased that the Ministry of Trade, Industry and Fisheries has decided to open for commercial harvesting of Calanus finmarchicus. Calanus AS has developed extensive knowledge on the harvesting of the resource and its products - as well as the market opportunities for this exciting raw material. The market potential for our unique health and nutrition products has been confirmed, both through strong customer growth in Norway and considerable international interest. To be able to serve existing and future customers, it is absolutely necessary to increase our production capacity.”.
The factory project has a total investment budget of EUR 18 million, of which EUR 7 million is to be financed with equity.
The company's main product is Calanus® Oil, an ecologically responsible and sustainable source of omega-3 fatty acids for humans. Calanus® Oil has a unique composition and has shown beneficial properties such as improved insulin sensitivity, reduction of intra-abdominal obesity and strong anti-inflammatory effects. Calanus As is now working on further development of clinical documentation in humans in several countries with an aim to apply for approval of health claims in accordance with EU and other Authorities' regulation. The company also works with functional ingredients aimed at both human and animal applications, including the global aquaculture industry.
Calanus As is a biomarine company pioneering harvesting and utilization of the crustacean Calanus finmarchicus, and is well positioned to play a key role in industrialization of the entire value chain for through its intellectual property rights. Calanus As develops functional health- and nutrition ingredients for humans and animals exclusively from this valuable raw material. The Company’s main product is Calanus® Oil, an ecologically sustainable source of omega-3 fatty acids for humans. Calanus® Oil has unique composition and has shown benefits like improved insulin sensitivity, reduced deposition of intra-abdominal fat and powerful anti-inflammatory effects.