Norway-based marine byproduct supplier Seagems has received a NOK 50 million (€4.3 million/$4.8 million) investment to help the company expand.
A large part of the investment came from Norwegian investment firm Skeie Technology, which is now the company's largest shareholder.
Seagems works with byproducts from shrimp, cod and other whitefish, Skeie Technology CEO Hakon Berg told IntraFish.
The company dries the cut-offs and makes ingredients from the powder that are used to manufacture soups, noodles and seasoning.
Seagems currently has a strong market position in Europe and Africa and is now planning to expand into Asian and American markets, Berg said.
