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W W W. M A I N E B I Z . B I Z 9 J U LY 9 , 2 0 1 8 We're in business to help your business. We provide businesses with local decision-making and a full suite of solutions and services to help your business succeed. 1.877.Bangor1 | www.bangor.com Member FDIC Portland Pie Company Portland, ME Treasury & Payment Services Merchant Card Processing Payroll, HR Solutions, & Tax Services Online & Mobile Banking Innovative Financial Solutions Workplace Advantage for Employees Seaweed entrepreneur expands in Biddeford, launches new products B y L a u r i e S c h r e i b e r BIDDEFORD — Ocean's Balance Inc., a Maine innovator of edible seaweed products, has moved into a new facility in the Pepperell Mill Campus in down- town Biddeford and will launch nine new edible seaweed products. The new products were unveiled recently at the Fancy Food Trade Show in New York City. Ocean's Balance was founded in 2016 by Tollef Olson and Mitchell Lench. Olson is a long-time aquacul- ture operator and a senior advisor at the Macroalgae Nursery and Research Cluster in the University of New England's Center for Excellence in the Marine Sciences. Lench owns the impact investment management fi rm Treetops Capital in Cape Elizabeth. Lisa Scali — who comes from a 20-year career in fi nance, then joined Ocean's Balance as a third principal and director of marketing and sales — told Mainebiz the new space in Biddeford is about 3,000 square feet. The company moved there in early May. They chose the space for several reasons, she said, including the innovative vibe of other new companies within the mill. "There's room for us to grow, if we need to," Scali said. "The rent is attractive. It's an exciting place to be." Set-up involved installing a seaweed spore nursery in one room, another room for multiple purposes like drying seaweed, and a main space for processing and to house inventory, she said. They're sharing the space. The work is performed by the principals, plus an intern this summer. "We'll be looking to take on additional staff, probably to start part-time, then full-time, this year if all goes well," she said. Steady growth in recent months Ocean's Balance sold its processing facility, in a 1,156-square-foot building at 188 Presumpscot St. in Portland, in November 2017 to look for a larger space. Just two months later, it launched its fi rst product line — a shelf-stable kelp puree in 9-ounce jars for retail and gallon containers for the service industry — in January 2017, working with distributors around the country. Earlier this year, Olson told Mainebiz that he and his partners have taken several routes toward building demand. That's included grants to aid product testing, placing product at retailers like Harbor Fish Market on Portland's water- front, and conducting frequent cooking and tasting demonstrations at venues like retail outlets, colleges and seafood shows. The company, though small, has seen excellent growth, Scali said. "The revenue in the fi rst six months of 2018 eclipsed revenue for all of 2017, and it continues to come along at a very healthy clip," she said, but declined to reveal numbers. Ocean's Balance is in 100 stores along the East Coast plus a few stores in California. Its new lineup includes "Seaweed Sprinkles" in three varieties — spicy, bonito and shitake; plus three types of seaweed — dulse, kombu and wakame — with fl ake or whole leaf options. The Seaweed Sprinkle line sells for $6.95 for a 1.7-ounce bag. Scali has been offering samples of the new products at retail shops like Browne Trading, LeRoux Kitchen, Cambridge Naturals and Portsmouth Health Food Center. In general, the stores looking at the products have a health, seafood or Asian focus. "Ten years ago, I couldn't get anyone to look at seaweed," Olson said. "But now, seaweed is in demand, especially by those seeking healthy, sustainable foods." B R I E F Tollef Olson, a co-founder of Ocean's Balance Inc., moved the company into larger quarters at the Pepperell Mill Campus in Biddeford. It launched nine new products this summer. P H O T O / T I M G R E E N WAY

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