Clearwater Seafoods is examining options for making flying fish roe part of its product line at its processing facility in Grand Bank. The Provincial Government is providing the company with approximately $27,000 to assist with product development through the Fisheries Technology and New Opportunities Program. The funding will support research, recipe development, sample production and sample testing. Once the product is developed to a commercial level, Clearwater Seafoods will be the only Canadian company providing it to North American buyers. The total project costs are estimated to be $91,000, with Clearwater Seafoods contributing the remainder of the funding.

"This project is designed to make the Grand Bank operation more viable," said the Honourable Clyde Jackman, Minister of Fisheries and Aquaculture. "It builds on the competitive advantage of the Grand Bank facility which is already a producer of capelin roe. The project has the potential to open up a new market and attract new business from all over the world. Adding flying fish roe to the Clearwater product line can help to improve employment in the fishing industry over the long term and enable Clearwater to improve the viability of the Grand Bank facility."

The production of fish roe is similar to the production of capelin roe. Capelin roe is already a successful high-quality Newfoundland and Labrador product. Flying fish roe can be produced in a similar way, using the same equipment that is currently used to produce capelin roe. In addition, demand traditionally increases for flying fish roe when capelin roe is not available.

"We at Clearwater are committed to producing the best product possible and exploring new options," said Eric Roe, Chief Operations Officer, Clearwater Seafoods. "This fish roe project is just one example. Without the funding from the program, a project like this would not be possible. It has the potential to grow and create an entirely new market for us. In 2008, we added capelin roe to our product line at the Grand Bank plant and we are currently the only processor in Canada producing capelin row. Now we could potentially be the only processor of flying fish roe as well."

Before moving forward with this project, Clearwater Seafoods carried out market analyses work. This included a market evaluation to determine the size of domestic and global markets for the product. The company has also been researching raw material availability to determine the current global supply of flying fish roe, the stability and viability of the resource, key producing countries and vendors that might be interested in supplying raw material.

"I am pleased that Clearwater Seafoods has received this funding," said the Honourable Darin King, Minister of Education and MHA for Grand Bank. "Effective product and market development is instrumental and a key component to the growth of this particular fishery. If proven successful, it will certainly increase demand for the product and have a positive effect on the local industry from processing to product distribution."

The Fisheries Technology and New Opportunities Program is an important component of the Fishing Industry Renewal Strategy. Since its launch, the program has invested approximately $5.6 million in industry-driven projects. A total of 118 projects have been funded since the program was created. Investment in the program has leveraged an additional $16.3 million from the industry and its partners. These initiatives have generated a total of $21.4 million for fishing industry research and development in the province.

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