FAERSK SIGNED

Project "FAERSK" data sheet

The following table provides information about the project.

 Partnership

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 Project objective

At Arctic IP, we want to bring nutritious, additive-free fish to the mass market. Today, fish that you buy in the supermarket is loaded with phosphates and antioxidants to preserve its color and reduce spoilage during its 10-day journey from catch, to a secondary processing plant, to consumer. With our patented FAERSK solution, we are turning turns today’s fish processing and distribution chain on its head. Using 2 patented innovations, the fish is cut into fillets and wrapped in the final packaging for transport and sale, all at the source fishery. And thanks to our vacuum-assisted pressure technology, the fish is dry cured naturally during transport. No need for additives, ice or single-use EPS boxes. FAERSK enables catch-to-consumer within 5 days, with the highest freshness index in the market. Sustainability is baked into our revolutionary business model – by shipping fillets only, the payload (net sellable product) for the average long-haul transport van increases by 200% creating massive fuel savings. FAERSK salmon fillets have won the acclaim of leading European supermarket chains and TV chefs. In Europe alone, we initially target the €12Bn retail salmon market. Funding and support from this phase 1 feasibility project will allow us to: 1) perform selected testing with first distributors to test product-market fit; 2) strengthen our Intellectual Property portfolio, comply with EU and USA regulations and obtain industry certifications and; 3) assess the feasibility of our business model and develop a market-winning business plan including a financial plan. A favorable feasibility study and detailed business plan will allow us to move forward and develop a Beta product that we plan to validate in a large-scale pilot with real customers, as part of our envisioned phase 2 project. with a planned commercial launch in Q3 2020, we aim to bring in €360M in annual revenues and grow our team to 180 employees.