Norskin Materials
#Circular-economy #Green-materials #B2B2C
Several industries are facing increased consumer pressure regarding their environmental impact. And at the same time fish producers have an abundance of by-products from their production of food wich is not fully utilized
Why is this important?
Moving forward towards a circular future, does not only demand new solutions and materials, it is equally important to cut waste and utilize every part of what we harvest from the sea.
Exotic leather constitues 17 % of the world wide leather market size and is worth 1153 million USD (2022)
Our market analysis has revealed a growing consumer demand for environmentally friendly and biobased materials. For instance, in Sweden, 42% of the population expresses a willingness to pay more for sustainable products.
The solution
Norskin has become experts in recycling byproducts from three different parts of the salmon value chain. We collect biomasses through the use of modern equipment, container fleets, and transportation solutions. These valuable materials are then conveyed to our tannery for the production of exclusive leather materials (TAM 4-5 Billion USD).
Additionally, we supply them to collagen producers, fish oil manufacturers, protein concentrate producers, and premium pet food manufacturers. The latter is a rapidly growing market worldwide.
Over the past two years, these materials have also been channeled into research and development efforts to identify new business opportunities for the raw material. Research projects have yielded a customer base for gelatins of up to 100,000 tons of gelatins toda
Uncover our red flags.
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The current team is relatively small and lacks expertise in crucial areas such as production management, fish handling, logistics, and sales/marketing. This could hinder the company's ability to move into the commercial phase.
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The ongoing R&D projects consume a significant amount of employee time and could potentially divert attention from essential operational tasks and commercialization efforts.
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The product is not yet fully developed or defined, and the production processes are still in development. Additionally, there is a lack of sales and marketing tools, which may slow down the path to commercialization.
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While Norskin has a strong network up to the point where the material is tanned and processed, it lacks connections in the final stage of the value chain, which involves reaching the end consumer.
Uncover our green flags.
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Norskin boasts a competent team with expertise in various critical areas. They have a well-established network and strong backing from relevant industries, including aquaculture, as well as a professional board.
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Norskin has secured agreements with Benchmark Genetics and Salten Aqua, providing access to a substantial amount of fish skin with the highest level of traceability.
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Norskin has a strong brand that sets it apart, along with a compelling brand story that enhances the company's credibility as a key player in utilizing byproducts effectively.
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Ongoing R&D projects with reputable research organizations could lead to a competitive advantage in the future, opening up new opportunities for product development.
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There is a growing demand for sustainable materials, particularly in the fashion industry. Norskin is well-positioned to cater to this demand by providing eco-friendly alternatives.
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The trend of increased fish processing in Norway due to lower transportation costs bodes well for Norskin, given its location in a region with a strong aquaculture industry and a potential talent pool for production.
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Norway's leadership in adopting high-tech production equipment can facilitate Norskin in finding efficient and scalable production processes.
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The global trend towards sustainability and the circular economy is creating opportunities for companies like Norskin, as consumers seek environmentally friendly alternatives.
Leather industry market in Europe in 2020
$67 billion
The world wide premium pet food market in 2020 :
$80 billion
Our solutions offers:
✓ Premium Leather Production: Norskin's technology can continue to produce high-quality leather from salmon skin for the fashion industry. This sustainable and exotic material can be used in clothing, accessories, and footwear, meeting the demand for eco-friendly and unique products
✓ Global Market Growth: Norskin can expand its market reach by supplying its sustainable materials to industries and businesses worldwide
✓ Bioplastics and Technical Applications: The extraction of valuable resources from salmon scales, such as gelatin, can open doors to the production of bioplastics and various technical applications. This can contribute to reducing the environmental impact of plastics and enhancing their biodegradability
✓ Partnerships and Collaborations: Norskin can explore partnerships with other industries and organizations, such as fashion brands, research institutions, and environmental agencies, to further advance its mission and technology
Summary:
✓ Innovative Fishing Industry Transformation
✓ Sustainability and environmental responsibility are central to Norskin's mission
✓ Strong Brand and Unique Access
Meet the team
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Founder and CEO
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Project Leader
Background
Norskin Materials AS, established in 2019, is a pioneering company based in Norway with a mission to revolutionize the fishing industry by harnessing the untapped potential of by-products generated during salmon production. With a commitment to environmental well-being and sustainability, Norskin is dedicated to maximizing the utilization of these overlooked resources and driving technological innovation.
The company has developed a unique production process that transforms salmon skin into high-quality leather for the fashion industry, addressing the growing consumer demand for sustainable and biobased materials. Norskin also extracts valuable resources from salmon scales, such as gelatin for bioplastics and other technical applications, creating a circular economy within the fishing industry.
Norskin's strong brand story and access to traceable, high-quality raw materials set it apart in the market. The company's location in a region with a thriving aquaculture industry and Norway's technological advancements further contribute to its potential for success. As the world shifts toward sustainability and the circular economy, Norskin is positioned to meet the demands for eco-friendly alternatives and make a significant impact in the industry.
