Startup company Codland in Grindavík, Southwest Iceland, has received ISK 75 million (USD 563,000, EUR 496,000) in funding from Nordic Innovation for developing products from fish skin. Once a three-year research project has been completed, the plan is to build a plant in Grindavík and process 3,000 tons of fish skins per year.
Some of the main biotechnology companies and institutions in the Nordic countries will collaborate on the research project, aimed at developing new enzymes to extract collagen from fish skin, Fréttablaðið reports.
Managing director of Codland Erla Ósk Pétursdóttir said the research fund is a great boost for the company’s development work. In the past months, Codland has been working on experimental production of collagen from cod skin in collaboration with gelatin producers in Spain. Collagen is a popular ingredient in health and beauty products.
The processing multiplies the value of fish skin. If everything goes according to plan, between 100 and 200 people will be employed at the new plant.