Circle News

Circle Seafoods anticipate their floating freezer vessel will head to Alaska once construction is complete

Will the floating processor be a game changer for Alaska’s struggling salmon sector?

An alternative to the ages old way of processing Alaska salmon will arrive in Southeast Alaska this summer to buy pinks and chums directly from fishermen.

Pat Glaab, Northline’s former CEO, is now the CEO of Circle Seafoods, leading the company along with co-founders Charlie Campbell and Eren Shultz. Founded in 2022, Circle Seafood has the tagline “the economics of wild salmon are broken”…

This episode gives you a double dose of salmon. First, we talk about two new innovative projects to make wild salmon, well, more like farmed salmon.

Propellor, which invested in Circle in late 2022, likes the direct link between a sustainable food and a more efficient production system, which has clear climate benefits.

NEW YORK, NEW YORK , UNITED STATES , January 8, 2024 /EINPresswire.com/ — Steward, the online lending platform for regenerative agriculture, proudly announces its latest successful offering, raising $1.39M in less than 24 hours for a loan to Circle Seafoods. Steward’s participation is part of a larger $13M loan towards the construction of a mobile deep-freezing barge that will enhance Alaska’s sustainably-managed wild salmon fisheries and economies.

Propeller, a VC firm focused on oceans and climate, closed its inaugural fund at $117 million and has invested in 14 portfolio companies, the firm tells Axios exclusively.

But the company is committed to the project if it can arrange financing.

This year, prices for Alaska salmon dropped to abysmal lows. Can new industry players change that?

The proposed project was sparked by what fishermen saw as an unfair gap between what they were paid by major processors and rising retail prices.