Veramaris wins Future of Fish Feed Challenge

Veramaris has taken home the USD 200,000 (EUR 179,794) prize after being announced the winner of the third edition of the F3, or Future of Fish Feed, Challenge.

The challenge, which takes place in stages, was this year oriented around creating an alternative, fish-free feed that most closely approximates the fatty acid profile in forage fish. The challenge’s overarching goal throughout all its contests is reducing the reliance on wild-caught fish for feed.

Veramaris’ algae-based oil demonstrated the highest concentrations of both EPA and DHA omega-3 fatty acids, according to the panel of judges that selected the winner. Surveys performed by the company have indicated that omega-3s are key to increasing consumption of salmon.

“Once we decided to commit and enter this competition, we decided to give it our all,” Veramaris CEO Karim Kurmalysaid.

Veramaris has been steadily advancing its ability to produce algal oils that substitute for feed. The company announced the opening of a USD 200 million (EUR 179 million) facility in Blair, Nebraska, earlier this year.

Kurmaly credited the early adopters of the company’s feed for the successful development of Vermaris’ algal oil.

“They had the courage, and they took the initiative, and I’d like to thank those courageous leaders, those farmers, both in Norway and Chile,” Kurmaly said.

The convictions of retailers to push toward more sustainable solutions was a big part of the success of alternative feed sources, Kurmaly added.

“What we’ve realized is, we have to adapt our business model, and work along the value chain to support feed mills, farmers, processors, and retailers to move to this alternative sustainable solution,” Kurmaly said.

He added that the company is now setting its sights on species beside salmon

“We also collaborate, and would like to collaborate, with the shrimp industry, here in India and elsewhere, to take you along this journey as well,” Kurmaly said.