Seafood giant Thai Union's ingredients division has signed a multi-year manufacturing deal with Canadian algae-based omega-3 manufacturer Algarithm Ingredients, the companies announced on Wednesday.

Algarithm produces plant-based, omega-3 ingredients derived from micro-algae.

The deal follows Thai Union's $7.4 million (€6.8 million) investment in Algarithm parent company, Mara Renewables, as part of Mara’s $28.9 million (€27.7 million) growth funding round last May.

The aquaculture industry has been aggressively seeking options for fishmeal replacement, and algae has emerged as one of the leading alternatives.

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In one prominent example last year, feed giant Cargill announced it would begin adding algal oil into all feed delivered to the Norwegian market, a milestone for the ingredient.

Last month, Thai Union announced its Corporate Venture Capital (CVC) fund is investing in France-based algae startup Algama’s €13 million ($13.9 million) series A fundraising round.

In addition to its alternative feed work, Thai Union has also actively pursued investments in alternative seafood, including both cellular and plant-based ventures.

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