Plant-based seafood company Konscious Foods has received a CAD 5m (approx. $3.5m) investment from the government of Canada.

Canada’s minister of small business, Rechie Valdez, announced the funding granted through PacifiCan, the government’s economic development agency dedicated to businesses in British Columbia. It was provided as part of PacifiCan’s Business Scale-Up and Productivity programme, which supports companies in accelerating their growth and competing internationally.

Konscious Foods, based in Richmond, British Columbia, creates plant-based sushi and seafood products. Its line of frozen sushi meals, designed for convenience, incorporates Canadian-grown ingredients such as quinoa, tomatoes and carrots.

PacifiCan’s funding will enable the company to expand its manufacturing capabilities, as well as creating more than 40 new jobs in British Columbia. It will also grow exports, helping Konscious to bring its products to new global markets.

In addition to the direct benefits for Konscious Foods, the investment is expected to generate demand for the company’s Canadian suppliers and boost the local economy.

Michael Watt, president and COO at Konscious Foods Canada, said: “Konscious Foods is a proud Canadian company, born right here in Vancouver. This investment has allowed us to grow quickly, win on a global stage and accelerate the next wave of innovation including plant-based Smoked Salm'n, Sno'Crab Cakes and Shr'mp. We are very grateful for the team at PacifiCan as our achievements would not be possible without [their] support.”

Minister of small business, Valdez, commented: “Just like so many communities across Canada, Richmond is home to entrepreneurs who are developing the creative, sustainable products that the world demands. PacifiCan's support means that businesses such as Konscious Foods can continue to grow locally, creating quality jobs here at home, feeding our communities and competing on the global stage.”