Research and technology diversifies this seaweed business
Multiple Awards | $295,000
670%
Sales increase from 2017 to 2020
35
Total acres for cultivation, the largest organic seed nursery in the US.
The ocean off the coast of Maine could be described as the best place in the North Atlantic for a seaweed business. There’s clean water that’s rich in nutrients, close proximity to markets and a state that is very supportive of Aquaculture.
Springtide Seaweed has taken advantage of this location to build a multi-faceted seaweed business in Gouldsboro, on the Downeast coast. Their growth since starting in 2017 has led them from growing and selling seaweed to also introducing a nursery, milling, pelletizing, and processing seaweed as well as creating the Maine Seaweed Exchange, an educational and advocacy organization for the industry. Their focus on research and technology has expanded to include an online marketplace that helps seafood producers access markets, and smart gear and sensors that are used in the field.
Initial MTI investments focused on processing and farm equipment. Springtide Seaweed was also awarded an SBIR Phase I grant to do cultivation of Nori and Dulse. They recently worked with MTI’s TAP team to create a successful application for a Phase II grant.
MTI has helped them to diversify outside of being a commodity producer. Rather than harvesting seaweed directly for their own food products, Springtide Seaweed prefers to develop and sell ingredients for other companies to use. These may be snack chips now but they are just as likely to be beauty, nutraceutical and pharmaceutical products and the company continues to expand their product line.