Issue link: https://nebusinessmedia.uberflip.com/i/1293637
W W W. M A I N E B I Z . B I Z 27 O C T O B E R 5 , 2 0 2 0 made a strategic investment in Ocean Approved to help them grow supply, provide free seed and purchase the sea- weed. e idea was to work with fisher- men and help them grow kelp, and we would process it. After a year and a half, I was asked to take over as CEO. MB: How do you create partnerships with fishermen? BW: At first, it was mostly recruit- ment. We knew that good fishermen would make good farmers. Other fishermen saw them making money, so they started coming to us. Now we have a wait list. MB: What are your goals? BW: Everything is driven by the idea that the more people who farm kelp, the more supplemental income will be driven back to make the coast more resilient. To do that, we have to make approachable, delicious food that people want to purchase so we can amplify that impact. MB: How do you convince consumers your product tastes good? BW: Our partnerships with fast casual chains, using products like our kelp puree in their salad dress- ing, get our products in front of people. People are looking for foods to improve their health. Seaweed is not a niche food. It's an $11 billion industry worldwide. People eat it all the time, especially millennials, in the form of seaweed snacks. We're intro- ducing fresh seaweed: I think people are eager to try that. MB: How much of that industry does Maine capture? BW: We aren't even a drop in the bucket right now. But two of the largest domestic seaweed companies are in Maine — Maine Coast Sea Vegetables, which makes a wild, dried product, and ours, which does line- grown fresh product. We're leading the charge on these two ways of eat- ing and raising seaweed. MB: Does the company create demand, or fulfill it? BW: Both. People eat seaweed. We're giving them another opportunity to eat fresh seaweed. MB: What have you lately prepared with kelp? BW: Lobster pasta with our kelp purée. Laurie Schreiber, Mainebiz senior writer, can be reached at lschreiber @ mainebiz.biz Portland | Biddeford | Kennebunk 207.774.2635 perkinsthompson.com Intellectual Property We know I.P. We guide creative, marketing, advertising and digital agencies, branding firms, consultants, media buyers and web developers in protecting intellectual property and complying with advertising laws. From trademark and copyright matters to compliance with digital and print marketing regulations, we are in your corner. Protecting dreams. Building assets. TheFirst.com/WealthManagement Individual | Nonprofit | Municipal RESPONSIBILITY FIRST Securities and investment products are not bank deposits, are not insured by the FDIC or any other government agency, are not obligations of, nor guaranteed by, any bank or bank affiliate, and may involve investment risk, including the possible loss of value or principal amount invested.