Turning seaweed into profits

Turning seaweed into profits
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CAPE SABLE ISLAND – SeaChange Biochemistry Inc. gets new equipment to take chemicals from kelp to the market. 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.

Today, 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.

“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

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.

 

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