SeafoodTrace

Project "SeafoodTrace" data sheet

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 Partnership

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 Project objective

More than 5 million tons of seafood are wasted annually in the EU. Traceability is key to reduce food waste and ensure that all food products in the EU are safe for consumers. This traceability and permanent monitoring of the supply chain gets even more crucial when products must be kept refrigerated as it is the case of seafood. Yet, singularities of the seafood supply chain, such as its global trade character and complex value chains make it difficult to consistently identify the origin and history of seafood products. Nowadays it is often still impossible to verify that the seafood we buy is safe to eat, reliably packed and shipped or properly handled. Digital innovations are going to be key in the global logistics market that is set to grow at a CAGR=7.5% in the period 2015-2024 surpassing the €15 trillion in revenues in 2023. Under this context Skynjar Technologies, an Icelandic SME with long-term experience in the seafood industry, is finishing the development of SeafoodTrace, an Intelligent Traceability Platform that will revolutionise the seafood industry by creating a one-stop shop covering traceability, quality control automation in inventory management and new format information for each box. With cutting-edge technology including anti-tamper smart labels based on printed, temperature sensors, each with a unique ID number, and an innovative, blockchain-enabled IoT platform, SeafoodTrace provides an end-to-end overview of the supply chain. Thanks to SeafoodTrace we will be able to reduce 20-40% the total seafood wasted along the supply chain. SeafoodTrace unique features - extensive transparency, education and product storytelling – will allow us to close the information gap from producer to consumer. SeafoodTrace will be ready for market uptake at the end of 2020. Thanks to our extensive network of contacts within the seafood sector, we expect to rapidly grow and surpass the €27 million revenues by 2023 and create up to 30 new positions in our company.