Three organizations have received money through the Atlantic Fisheries Fund to help advance the seafood industry on P.E.I.
The three organizations are getting access to a total of $365,000.
Acadian Supreme of Abram Village is getting a $65,000 contribution for new lobster processing equipment.
Royal Star Foods of Tignish is getting $99,913 towards product development.
Food Island Partnership of Charlottetown is getting $200,000 to help seafood processors expand their markets and product offerings.
“The world is demanding sustainably sourced, high-quality seafood products and the Atlantic Fisheries Fund will drive innovation in this sector, helping Canada meet these demands,” said federal Fisheries Minister Jonathan Wilkinson.
The Atlantic Fisheries Fund is a pot of $400 million of taxpayers’ money jointly distributed by the federal and provincial governments and focuses on increasing opportunities and market value for sustainably sourced seafood products from Atlantic Canada.
The Atlantic Fisheries Fund is a seven-year commitment to the industry. The funding is open to the commercial fisheries and aquaculture industry, Indigenous groups, universities, industry associations and organizations, including research institutions.
Eligible projects must focus on innovation, infrastructure and scientific partnerships.
“Sustainability, innovation and science are vital to market access, and the province is pleased to see deserving projects on P.E.I. receive funding through the Atlantic Fisheries Fund to meet product demand,” said provincial Fisheries Minister Robert Henderson.