Could you start by giving us an introduction to Aker BioMarine, the company’s history, and your goals?
Aker BioMarine has been in the krill business for 17 years. We started with the vision that krill, the largest biomass on the planet, represents a valuable and untapped resource. While krill can be found throughout the world’s oceans, it's only in Antarctica where they gather in large enough concentrations to be commercially viable. Sitting at the bottom of the food chain, krill is vital as it accumulates nutrients that are essential to many forms of life, which have evolved around it over millions of years. So, our idea was to harness this rich resource and develop sustainable ways to harvest it.
From the beginning, we recognized the need to prioritize sustainability. We built advanced technology for harvesting and processing krill and set the goal to create the world’s most sustainable fishery. Today, we’ve achieved that and are proud to be rated the most sustainable fishery globally. We’ve invested heavily in this venture—around $700-800 million over the years—building vessels, establishing factories, and conducting extensive R&D to unlock the health benefits of krill for both humans and animals. Now, we’re a $400 million business providing krill-based ingredients for agriculture, such as salmon and shrimp farming, as well as for human nutrition, particularly in the form of phospholipid-rich omega-3s.
What differentiates krill-based omega-3 from other sources, and what are the nutritional benefits?
Krill oil is a multi-nutrient that is it naturally made up of high-quality omega-3 EPA & DHA, choline and an antioxidant called astaxanthin. It is unique because it's naturally bound to phospholipids, unlike other omega-3 sources. In our bodies, all cells have membranes with phospholipids, which facilitate the absorption of nutrients. Because krill oil’s omega-3 is already in this phospholipid form, it bypasses the liver and is more efficiently absorbed directly into the cells. This results in about three times more omega-3 reaching our cells compared to other sources.
Additionally, krill oil contains choline, an essential nutrient for brain, live and muscle function, as well as cellular signaling. Our bodies can't produce choline on its own. Both the US and Europe show significant deficiencies in choline due to dietary changes over the last several decades. Our krill products offer an efficient way to supplement both omega-3 and choline, supporting heart, brain, and overall cellular health.
Are there notable differences in dietary needs across regions when it comes to omega-3 and choline?
Yes, there are some differences, but omega-3 deficiency is fairly widespread. In the US, the deficiency is more severe than in countries that have a coastline and easy access to fish types that contain omega-3 fatty acids, like Norway, but even in Norway, people aren’t getting enough. Governments in countries like Norway include omega-3 and choline in their nutritional guidelines, recommending that people get these nutrients from their diet. However, the reality is that not everyone can consume enough of the right foods, like fatty fish, multiple times a week.
Supplements play a crucial role here, providing a way to meet these dietary needs affordably and conveniently. Ideally, we’d like to see personalized supplementation tailored to individual diets and deficiencies, but the industry still has a long way to go.
Sustainability seems central to Aker BioMarine. Could you explain your sustainability initiatives, particularly the eco-harvesting technology?
Sustainability is absolutely fundamental for us. Knowing that we’d face scrutiny fishing in Antarctica, we partnered with WWF 19 years ago, even before we started our operations to help us create the world’s most sustainable fishery. WWF advised us on best practices, such as achieving MSC (Marine Stewardship Council) certification, which is the most rigorous marine sustainability standard available. MSC certification ensures that we monitor the krill population, assess the impact on predator species, and follow a transparent management system. It involves regular audits by independent third parties.
We also co-founded ARK (Association for Responsible Krill Harvesting Companies) to establish sustainability standards across the industry. Today, most companies in the krill industry are part of ARK, and they adhere to practices like having independent observers on board each vessel to monitor activities in real time.
Our commitment to sustainability has even led us to work with Greenpeace. For example, we collaborated with them to create marine protected areas around penguin colonies, where fishing is restricted to protect their food sources. This level of transparency and partnership with environmental groups has been crucial in setting a standard for responsible krill harvesting.
When it comes to the harvesting process, Aker BioMarine developed and patented an Eco-Harvesting technology early on. This innovative technology helps us harvest krill in a sustainable and environmentally friendly way. It does that by reducing the risk of by-catch of other species to a minimal level.
You mentioned eco-harvesting. Could you explain the other technological innovations you’re using in that process?
One of our most exciting innovations is a system called the Feedback Management System, which allows us to regulate our fishing quotas based on real-time data rather than historical data. This system collects data from various sources, including sensors, drones, and autonomous vessels, which operate independently for weeks, measuring environmental conditions and krill populations. With machine learning, we can predict biomass levels and adjust quotas accordingly.
We’re also sharing this technology with the regulatory body for Antarctica, CCAMLR (Commission for the Conservation of Antarctic Marine Living Resources), which has committed to implementing this feedback-based quota system. It’s a pioneering approach in fisheries management and could become a model for sustainable harvesting worldwide.
How do consumer attitudes and the demand for sustainability impact Aker BioMarine’s growth and future strategy?
As a leading global biotech innovator, our core mission is to improve human health, and sustainability is a major part of our foundation. Since day one, we had a vision that everyone would have access to quality nutrition and good health without compromising the future of our planet. We work hard to achieve that every day, and while we believe that sustainable practices will eventually yield higher growth and profit, the market isn’t quite there yet. Although consumers express interest in sustainable products, cost and convenience still largely drive purchasing decisions. However, we do see potential for change as younger generations prioritize health and sustainability more than ever.
At present, one of our biggest advocates for sustainability is our workforce. Our commitment to sustainability helps us attract top talent, and it opens doors to collaborations with governments and organizations. This aligns with our long-term belief that companies practicing sustainability will ultimately succeed.
What trends are you noticing in the supplement industry, and how does Aker BioMarine plan to adapt?
The supplement industry is experiencing steady growth, around 6-7% annually, driven by greater consumer awareness of health and wellness. We’re seeing a shift, especially among younger generations, toward proactive health management. Social media and digital platforms also play a huge role in consumer education, which is essential in our field. In markets like China, influencers are leading the way in “social selling,” where consumers can purchase products directly from live-streamed sessions with health experts. This model is likely to grow globally and provides a fantastic opportunity for educating consumers.
We also anticipate that, as lifestyle diseases become more prevalent, supplements will be viewed as essential to preventive health. Governments and healthcare systems are slowly starting to accept supplements as part of the solution, which we believe will only drive growth further.
Finally, what’s next for Aker BioMarine?
We’re excited about the future. We’ll continue to push the boundaries in sustainability and technology. I believe that governments will tighten regulations to ensure companies meet environmental goals, so companies that already prioritize sustainability will have an advantage. We’ll also stay at the forefront of consumer education, leveraging social media and influencers to spread awareness, as well as collaborate with our customers and partners to keep visibility high.
As healthcare costs rise and lifestyle-related diseases become more common, I expect supplements to play a larger role in preventive health. Our investments in R&D and science-backed products have positioned us well to lead this industry shift.
We are committed to advancing scientific research on krill oil, and are currently focused on studies impacting aging, skin, brain, and women’s health, and we are excited to explore how this research will drive future product innovation.
The journey hasn’t been easy, but I’m proud of the strides we’ve made, and I’m confident that we’re moving in the right direction.
