SeaDragon Opens US$7 Million Omega-3 Refinery

Tuesday, October 18th, 2016 | 1003 Views

The NZ$10 million (US$7 million) refinery located in Nelson has the capacity to refine up to 5,000 tonnes of Omega-3 fish oil, and the potential to generate up to NZ$50 million (US$35.4 million) in sales annually.

SeaDragon chairman Colin Groves said, “New Zealand operates fisheries that are recognised for their sustainability. We can provide traceability to the source in order to give consumers precise information about the provenance of our products.”

The plant started commercial production earlier this year, producing around 100 tonnes of refined Omega-3 fish oil which were largely refined from tuna oil. Along with Marine Stewardship Council chain of custody accreditation, the facility has gained the required certifications to export products to key target markets.

There is steady demand worldwide for omega-3 oils. The market was estimated to be valued at US$9.94 billion in 2015, and is projected to grow at a compound annual growth rate of 13.8 percent from 2015 to reach US$18.95 billion in 2020, according to MarketsandMarkets.