Saving Seafood

North Atlantic, Inc. Subsidiary Bali Seafood International Opens First Fish Processing Center in Indonesia

March 6, 2018 — BALI, Indonesia — The following was released by North Atlantic Inc:

Bali Seafood International, a subsidiary of Maine-based North Atlantic, Inc., officially opened the first of four planned fish processing centers on the island of Sumbawa, Indonesia. This plant marks the first phase of a series of larger fishery community centers that will provide the surrounding area with education and finance programs as well as a gear and supply shop.

More than 400 guests from the local community, representatives of the government and more than 100 Bali Seafood International (BSI) staff, investors and advisors were on hand to participate in the festivities surrounding the official opening of the first export-quality fish processing plant.

“This represents a major milestone for not only our company but also for the region. Together we will bring prosperity to up to 1,000 fisher families and positively impact more than 6,000 citizens of Sumbawa” said Jerry Knecht, Chief Executive Officer of BSI, in his opening remarks.

BSI’s business model is based on driving sustainable fisheries management in its operating area. Beyond this first processing facility, the company will also establish an education center for the local community, provide micro finance programs for fishermen, and mandate other best practice programs to support the preservation of healthy fish stocks locally.

PT BSI has focused its investments and business model around connecting local small-boat fishermen to high-value western markets. By making this connection, the company can share profits with local communities and provide incentives to encourage more sustainable fishing behavior. The business model “is a win/win for the local community and Bali Seafood” echoed Sekda Rosiady Sayuti, Secretary General, Indonesia, in his remarks at the event.The Commissioning Day was held at the factory site and marks the beginning of operations that are targeting export production of over 100 tons per year. The local government hopes the company will increase its capacity in the future to further benefit the local community.

Learn more about Bali Seafood International by visiting their site here.

 

North Atlantic, Inc. presents fisheries management model at sustainable fisheries conference in Jakarta

August 18, 2016 — JAKARTA, Indonesia — The Economist magazine convened a group of investors, government representatives, non-profit organizations and multi-lateral agencies to discuss how to drive investment aimed at addressing the decline of wild fish stocks.

Presenting as a panelist at the South-East Asia and Pacific Regional Fisheries Summit, Jerry Knecht, founder and President of Portland, Maine based North Atlantic, Inc (NAI), reviewed the progress of his team’s community based fishery management model. On the heels of successful fundraising in 2015, NAI broke ground on their first fisheries management center in March. This is one of four planned in Indonesia.

The NAI story quickly became a focal point in discussing how to increase investment in sustainable fisheries. When asked about keys to attracting capital, Knecht explained a fisheries company must first mitigate risk. “[We] work with the value chain. By understanding the whole value chain and working with the fishery itself, we start to distribute some of the rents from the value chain to fisheries, incenting them to follow sustainable practices.” Knecht believes long term sustainability begins with the coastal communities harvesting the fisheries.

See the full press release here