GNP Ventures Seaweed Market Assessment

GNP Ventures Inc. is a Newfoundland-based company that is looking to potentially harvest nutrient-rich
seaweed and kelp in coastal communities along the Great Northern Peninsula and other coastal areas
within the province. Our goal is to implement and promote regenerative ocean farming as a strategy to
create equitable and sustainable economic opportunities and also to expand existing expertise and
infrastructure within Newfoundland’s rural areas. The company is in its early planning stage and needs a
student to compile information about potential markets, kelp uses and challenges in the industry and
other information about set-up requirements and regulations for seaweed farming in Newfoundland
and Labrador. Global growth projections for farmed seaweed are strong. A recent study estimates the
industry will grow to $92 billion by 2025 across a diverse range of markets. Newfoundland and
Labrador’s coastal waters support rich seaweed growth with approximately 300 species, that largely
remain untapped. This project will underpin a market entry approach for us and enable us to move
forward based on market information that we need to inform our decisions.

Faculty Supervisor:

Cyr Couturier

Student:

Partner:

GNP Ventures Inc.

Discipline:

Life Sciences

Sector:

Agriculture

University:

Memorial University of Newfoundland

Program: