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FAERSK – Innovative fish processing and logistics solution

Project description

A new way to keep fish fresh, from catch to consumer

Preserving fish from catch to supermarket usually involves loading them up with phosphates and antioxidants to reduce spoilage. But what if there was another way to ensure consumers had access to fresh fish? In this context, the EU-funded FAERSK project has a solution that will change the fish processing industry. Specifically, it will make it possible to cut fish into fillets and wrap them in the final packaging for transport and sale. In this way, the need to transport fish to the processing plant is eliminated. What is more, the project’s vacuum-assisted pressure technology ensures the fish is dry cured naturally during transport. This is good news for distribution and payload, which can increase by 200 %.

Objective

At Arctic IP, we want to bring nutritious, additive-free fish to the mass market. Today, fish that you buy in the supermarket is loaded with phosphates and antioxidants to preserve its color and reduce spoilage during its 10-day journey from catch, to a secondary processing plant, to consumer. With our patented FAERSK solution, we are turning turns today’s fish processing and distribution chain on its head. Using 2 patented innovations, the fish is cut into fillets and wrapped in the final packaging for transport and sale, all at the source fishery. And thanks to our vacuum-assisted pressure technology, the fish is dry cured naturally during transport. No need for additives, ice or single-use EPS boxes. FAERSK enables catch-to-consumer within 5 days, with the highest freshness index in the market. Sustainability is baked into our revolutionary business model – by shipping fillets only, the payload (net sellable product) for the average long-haul transport van increases by 200% creating massive fuel savings. FAERSK salmon fillets have won the acclaim of leading European supermarket chains and TV chefs. In Europe alone, we initially target the €12Bn retail salmon market. Funding and support from this phase 1 feasibility project will allow us to: 1) perform selected testing with first distributors to test product-market fit; 2) strengthen our Intellectual Property portfolio, comply with EU and USA regulations and obtain industry certifications and; 3) assess the feasibility of our business model and develop a market-winning business plan including a financial plan. A favorable feasibility study and detailed business plan will allow us to move forward and develop a Beta product that we plan to validate in a large-scale pilot with real customers, as part of our envisioned phase 2 project. with a planned commercial launch in Q3 2020, we aim to bring in €360M in annual revenues and grow our team to 180+ employees.

Call for proposal

H2020-EIC-SMEInst-2018-2020

See other projects for this call

Sub call

H2020-SMEInst-2018-2020-1

Coordinator

ARCTIC IP INVESTMENT AB
Net EU contribution
€ 50 000,00
Address
VARESVUORENKATU 5
24240 SALO
Finland

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Manner-Suomi Etelä-Suomi Varsinais-Suomi
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost
€ 71 429,00