Avoca and Olympic Seafood form Krill Oil Joint Venture

Avoca is the world’s premier botanical extraction company through its’ extensive extraction and purification technologies. Avoca has been extracting krill oil for the last two years, but recently saw a spike in demand, to which the new joint venture is able to respond.

23 Oct 2012 --- Avoca, Inc. and Olympic Seafood AS announced today they have formed a joint venture to produce krill oil. The venture is named RIMFROST USA, LLC and allows for a guaranteed supply of krill oil to the steadily growing market.

The new venture RIMFROST USA, LLC combines the prowess of Olympic Seafood in producing raw krill material with the expertise of Avoca in extraction processes. “This venture will enable us to produce in the range of 600 tons of krill oil per year, which is equal to the current annual worldwide production,” said David Peele, President of Avoca. “It ensures our customers are receiving an extremely high quality krill oil, extracted in a cGMP facility, with traceability from krill that are collected in an environmentally sustainable manner.”

Managing director of Olympic Seafood, Bjørnar Kleiven, reflects Mr. Peele’s statement by saying: “We are very excited to begin a joint venture with Avoca as we are now able to increase our production capacity and supply of top quality krill oil to customers worldwide. Avoca has the extensive background and technologies necessary to extract krill oil to our RIMFROST standards with their cGMP facility.”

Avoca is the world’s premier botanical extraction company through its’ extensive extraction and purification technologies. Avoca has been extracting krill oil for the last two years, but recently saw a spike in demand, to which the new joint venture is able to respond.

Olympic Seafood focuses exclusively on Antarctic krill ingredients. Olympic operates on the Antarctic Ocean with its own specialized krill-collecting vessel Juvel. This allows complete control of the value chain to produce a secured supply of krill raw material for the joint venture. The immediate patented on-board processing of fresh krill is done at low temperatures to provide raw material where all the compounds are in their natural form. The unadulterated raw material allows production of krill oil with low oxidation and exceptional properties. In addition to the processing on-board the Juvel, Olympic Seafood is proud to have recently received “Friend of the Sea” certification for its krill collecting operation to ensure the highest possible standards in traceability and sustainability.