The Provincial Government is supporting the development of new value-added mussel products and the exploration of opportunities for them in the global marketplace.

Green Seafoods Limited has received $100,000 to explore new value-added mussel products, including those that can be produced from undersized raw material that would otherwise have very limited use. This funding has been approved under the Fisheries Technology and New Opportunities Program.

"Our government continues to provide effective funding, programming and support for the development of the fishing and aquaculture industries in Newfoundland and Labrador," said the Honourable Tom Rideout, Minister of Fisheries and Aquaculture. "We very much encourage initiatives aimed at developing new products and diversifying markets. Our mussel aquaculture industry continues to be very strong and, finding new and pertinent market opportunities is critical to its future growth."

In addition to developing new products, the company will also assess the demand for such products throughout the world and explore and develop niche market opportunities for them.

"This assistance will help our company continue to develop our value-added business," said Derek Green of Green Seafoods Limited. "Value-added products create sustainable employment for our employees and also help us fully utilize the raw material we have available. Developing new innovative products for small niche markets will be the main focus for this funding."

"For more than 100 years, this company has operated its seafood business, contributing to the economic well-being of the Winterton area," said Charlene Johnson, MHA for Trinity- Bay de Verde. "I am pleased with this funding to assist with their exploration of new products and help them secure new markets which, in turn, will positively impact many residents in my district."

The Fisheries Technology and New Opportunities Program was created as part of the Fishing Industry Renewal (FIR) Strategy. The province has allocated $6 million over three years for this initiative, including $2 million in Budget 2008. This is part of an estimated $140 million undertaking by the Provincial Government for the various programs and provisions that are part of this strategy.

"The Fisheries Technology and New Opportunities Program was developed to promote and support research and development initiatives throughout our seafood sector, in order to achieve the best possible returns on our investments," said Minister Rideout. "This will be accomplished through the development of new and innovative projects for the fishing and aquaculture industries as it relates to new species, products, markets and techniques to harvest, process and market the province�s marine resources."

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Media contact:
Lori Lee Oates
Director of Communications
Department of Fisheries and Aquaculture
709-729-3733, 690-8403
oatesll@gov.nl.ca

2008 05 02                                                         12:55 p.m.