Matorka chose Maritech

Welcome to Maritech Cloud, Matorka!

We are happy to announce our new partnership with Matorka, Iceland.

Matorka is a premium-quality producer of arctic char for the global market. Located in Grindavik, Iceland, their land-based farming site is using geothermal energy and 200 000 year-old lava beds providing constant temperature, and natural filtration of the water in their tanks.

Matorka is one out of two new Maritech Cloud customers signed during Seafood Expo Global/Seafood Processing Global in Barcelona. They will now implement our cloud software Maritech Purchase & Sales in combination with Maritech Packing, integrated with dk Business Solutions. Maritech Purchase & Sales is a complete cloud-based business system tailored for handling sales, imports/exports, inventory management, invoicing, claims and all other processes related to seafood trade.

“We are very pleased that Matorka chose Maritech,” says Konrad Olavsson, Sales and Service Manager, Maritech Iceland.

“They are an innovative, highly quality-focused company producing premium products, sustainably farmed. We are looking forward to supporting their future growth!”

About Matorka

Land-Based Aquaculture company Matorka is farming sustainably raised Arctic char for world markets. The company is vertically integrated from egg to fillet export, and harvest-to-order to ensure that the fish arrive as fresh as possible. The name Matorka is a combination of the Icelandic words “mat”, which means food, and “orka”, which means energy—food energy. A natural choice, as the company is transforming Iceland’s geothermal energy and clean water into the perfect habitat to grow premium quality, sustainably farmed fish.

Curious? We would love to hear from you!

Maritech Iceland is growing!

Say hi to Geir Thrainsson, who has joined Konrad Olavsson at Iceland Ocean Cluster as our newest member of Team Maritech.

We’d love to talk to you

As the entirety of Geir’s career has been in the seafood industry, his knowledge is ranging from several perspectives.

From early age, he gained firsthand experience from all parts of the seafood value chain – fisheries, production, processing, sales, management, and logistics. Combined with his Master’s degree in finance and logistics, there is no doubt he has the perfect background for his new role as Solution Architect in Maritech.

Fish factories and finance

«I started working as a teenager in fishing factories in Iceland. Later as a deck hand on trawlers. After that, I spent a while in seafood sales, before moving to London to take my MSc degree. Then I worked for a for a secondary fish processing company Newcastle, which supplied chilled seafood to all the major supermarket chains in the UK. When back in Iceland I worked for an IT company where I also worked closely with the fishing/seafood sector.”

In 2006, Geir headed for warmer weather and new challenges in Spain. There he spent 7 years as Supply Chain Manager and Branch Manager for companies operating large factory trawlers in West Africa. From 2016 and up until starting in Maritech, he had the role as Innova Product Specialist in Marel.

“He’s very humble as you can see, he forgot to mention that he also holds the title as ‘sailor’,” Konrad cuts in and laughs as he adds to his teammate’s list of achievements.

Team Maritech Iceland is growing! Say hi to Geir Thrainsson

Several new projects

“I am happy to be a part of Team Maritech,” says Geir, who visited his new colleagues in Norway to get to know and work closely with a cross-functional group. “We have high ambitions for our expansion in Iceland, so 2023 will be a very interesting year. I started working here in September, and a lot has happened since then. There are many potential projects, related to Maritech Cloud, which is my primary focus, and to production and IoT where we have Konrad and other specialists in our team.”

They have already exhibited a promising future, with several new signatures over the last months, for Maritech Cloud™ and Maritech Eye™. One example is Útgerðarfélag Reykjavíkur, the first company to use the Maritech Eye™ on two fishing vessels. The first Eye was installed during Christmas. Brim is another ongoing Eye project in Iceland, and we are looking forward to sharing another new project with you soon.

Útgerðarfélag Reykjavíkur chose Maritech Eye for automated sorting onboard fishing vessels

Iceland + Canada + Norway

While resources for the Iceland team are always at their disposal in both Norway and Canada, Konrad and Geir explain their position as that of a matrix.

“It’s a unique position to be in because we incorporate the beliefs and values that the whole company express, and we can always rely on the other offices when we need to. However, we get to develop and form our own flow of adaptability and flexibility to meet the customers’ needs based on their geographic location,” Konrad says.

“We get to build on the strengths from our colleagues in Norway and Canada, while having our focus and our own understanding at the front line in Iceland. This way, we are flexible and adaptable to our clients, which I think will provide us with much success now and in the future.”

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From tree-planting to seafood tech

Our North American team is growing! We are happy to introduce you to Cyra, our new seafood software consultant in Halifax.

Would you like to talk to us? Let us know!

The idea of Cyra Humber working in an office was a foreign thought to her for most of her life.

A thought that wouldn’t dare enter her mind while she attended university, travelled the world, worked in hospitality and planted trees. It wasn’t until the coronavirus pandemic began that everything changed. She would head back to Canada and begin a new educational journey, eventually finding herself a part of a new community – Team Maritech in Halifax.

A love for the east coast

Cyra began her academic career at St. Francis Xavier University, a smaller school in what she says felt like an even smaller town known as Antigonish, Nova Scotia. Completing a bachelor’s degree in Psychology wouldn’t even be the highlight of her university career, but rather it was the four years she would spend competing for the Women’s Varsity Rugby team – winning two national and three provincial titles during her time on the team.

Unsure of her next step, the only thing Cyra knew was that she wasn’t ready to leave the east coast of Canada, moving from Antigonish to the province capital of Halifax. Originally from Toronto, Ontario, the maritime way of life soon stuck with Cyra and would ultimately become the reason she would make this place home.

“The energy of Halifax is amazing, and working here at Maritech, has been the most rewarding experience,” says Cyra. She has been with the team since April of 2022.

A new opportunity

In September of 2021, Cyra returned to school at the Nova Scotia Community College, to complete an Advanced Diploma in Public Relations. Shortly after, she found herself immersed in the seafood tech industry as a software consultant.

“I love working with people. It’s kind of a perfect position for me. Solving problems and teaching people how they can make their organization run more efficiently is a really rewarding feeling,” smiles Cyra.

The past months at Maritech have opened Cyra to a new world – one she has been eagerly learning – seafood. Although she grew up enjoying seafood, she was humbled when she began working here and realized the processes these products must go through to become what we consume.

Cyra Humber and Kristjan Kristjansson, Maritech North America

“I truly never realized how big of an industry seafood is, and I am excited to learn all there is to know. I really couldn’t be learning from a better organization. Our software solutions are the only ones of their kind in the world. I have been so lucky to be presented with the opportunity to learn all the processes of seafood from catch to consumer plate, and help others be more efficient and sustainable. There is such a wealth of knowledge here,” says Cyra.

We certainly feel lucky to have her aboard our North American team!

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News in Maritech Packing and EasyLabel

Here are the most important improvements + new integrations since the last upgrade.

Curious, and not yet a customer? Let us know!

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Maritech Packing

Support for 2 different checkout labels for the same register registration on separate printers. Support for tables in label design.
Support for specifying allergens, nutritional content, and ingredients on the product, as well as translation in different languages for these.
Reorganization of commodity properties on the right side with, among other things, a display of which grading keys marked goods are included in.
Locking columns by scrolling laterally in sales orders, item indexes, and language texts.
Function to send documents (waybill, cash register etc.) collected from sales orders in Packing.
Reprinting labels from picking orders in Packing based on selected customer on the order.
General bug fixes and improvements.

Maritech EasyLabel

Improvements against Scan weight applications.
Support for direct print against multiple printer models without the use of a Windows driver.
Improved support against printers using windows driver with the label now rotating in all 4 directions.
General bug fixes and improvements.

Maritech EasyGrade

Better support against Marelec graders from the EasyGrade screen.
Control of degrees defined in a reception / delivery of fish from 1 boat.

Packing API

Continuous cash export to Trading / P&S. Fast track.
Synchronization of master data (goods, labels, languages, language translations etc.) between several facilities, where 1 installation is defined as master.
Integration with Marelec, Valka and Marel grade.
Integration with “Delford”.
Continuous enhancements and improvements towards integrations.

Anything you’d like to ask us?

Please let us know if you have any questions!

Integrations

Integration with Maritech Purchase & Sales.
Integration with Marelec, Valka and Marel grade.

Those of you who are already using our Packing and Labelling systems will be contacted shortly, to arrange a time for installation of the new updates.

The First Eye at Sea

Útgerðarfélag Reykjavíkur is the first company that have started using Maritech Eye™ onboard fishing vessels.

Interesting! I would like to know more

In December, Icelandic Útgerðarfélag Reykjavíkur installed the first of their two Maritech Eye units.

Their purpose is to automate the recognition and documentation of species in combination with size and other parameters related to various characteristics of whitefish catch.

The information will also be sent to the fisheries authorities in Iceland, who will use the data for research and estimation of stock size to optimize Icelandic quotas. Fiskistofa, The Icelandic Directorate of Fisheries, and Hafrannsóknarstofnun Íslands, the Icelandic Marine and Freshwater Research Institute, express that this project is very exciting to follow up on and that they will collaborate closely with Útgerðarfélag Reykjavíkur.

Automated catch registration

“We chose Maritech Eye™ because we see the possibility to solve the task of registering all our catch and believe it will greatly help optimizing our operations and give important research data to fishing authorities,” says Runólfur V Guðmundsson, CEO Útgerðarfélag Reykjavíkur.

“Útgerðarfélag Reykjavíkur is a leading Icelandic fishing company. They always try to use the latest technology on their vessels and work closely with all stakeholders in the industry. True pioneers,” says Konráð Hatlemark Olavsson, General Manager Maritech Iceland.

“As the industry is changing and the boats are getting bigger and more advanced, we see this as a natural part of the development – automated sorting, quality control, data collection, and documentation.”

Blood, Gaping, Fat, Nematodes ++

Automated and objective quality assessment, documentation and sorting, allows you to use your resources in a more cost-efficient way and improve your margins. With our standardized setups for salmon or whitefish, you can easily get started and get full return on your investment within just a few months. Ask us for an estimate.

Maritech Eye™ detects and documents blood spots, gaping (whitefish and salmon) melanin, salmofan, fat (salmon fillets), nematodes, and species (white fish fillets + round fish). As the scanning gives you objective documentation of the fish quality – in industrial speed, with a unique ID for each fish – you can easily provide this verification and traceability to your customers either they are wholesalers, supermarket chains or smaller buyers. If you buy fish from other, you will be able to verify that you pay for the quality you actually get.

See why Maritech Eye™ may be perfect for your company

Nematodes detection at MareDeus, Portugal

Maximizing profit and quality

“This first vessel-based project is a milestone in several ways,” says Per Alfred Holte, VP Technical Solutions at Maritech. “Especially since the value creation at the fishing grounds is almost impossible to compensate for at a later stage in the seafood value chain. An increasing share of the quotas are caught by large vessels, it is crucial to ensure optimal operations at sea, data collection, and resource utilization.

With automated tools such as Maritech Eye™, both the industry and authorities ensure objective documentation and data collection, with considerably higher precision and efficiency compared to what you can get through a manual collection of random samples or inspection of complete catch volumes.”

Curious to see how it works?

Get in touch!

Welcome to Maritech,
Brim and Hnyfill!

In early June, The Icelandic Fisheries Exhibition (IceFish) finally opened its doors to the public again.

It was great to be back! And a perfect occasion to sign our two new customers, Brim Seafood and Hnyfill.

Interesting! I would like to know more

Brim testing Maritech Eye

Brim Seafood is one of the largest seafood companies in Iceland, specializing in wild-caught Atlantic Cod, Deep Sea and Golden Redfish, Greenland Halibut, Saithe, Mackerel, and Haddock. The initial phase of our new Brim partnership is a Maritech Eye™ test project, where the main goal is to increase the efficiency of Brim´s production and processing.

“We have been in dialogue with Brim for a while now, and they have been very positive right from the beginning. They are a leader in innovation and responsible fishing and have positioned themselves as an influencer in the Icelandic seafood industry,” says Konrad Olavsson, Maritech Iceland.

A natural next step

“Exploring the capabilities of Maritech Eye™ is a natural next step on this path, as they are now the first Icelandic company to start testing hyperspectral imaging for objective quality documentation and species sorting,” Olavsson continues.

“As Maritech Eye™ is the only solution of its kind in the world, that can actually document the inside of whole, round whitefish, this gives our customers a new competitive advantage in the global market – in addition to the efficiency gains, reduced waste, and other benefits such as the reduced amount of repetitive, manual tasks.”

Image: Konrad Olavsson, Maritech Iceland, and Gisli Kristjansson, Brim Seafood

Hnyfill + Maritech

A new Maritech Cloud customer was also signed at Icefish – Hnyfill will now be the first Icelandic company using Maritech Purchase & Sales for all their seafood trading processes. Hnyfill is a fish processor located in Akureyri in north Iceland. They have been operating for nearly 30 years and are moving into further digitalization of their processes together with Maritech.

“I’m not sure if it’s coincidence or fate that the meaning behind the word Hnyfill is ‘to pioneer,’ which is exactly what our relationship with them will do,” Olavsson smiles.

“We are looking forward to getting them up and running and aim to build a strong partnership for the future.”

Connected in Boston

The connection between Maritech and Hnyfill was established at Seafood Processing North America in Boston in March earlier this year.

“At the show we met the owners of Hnyfill and other processing and sales offices in Iceland. They showed us great interest since they have the need to digitalize their companies – preferably with the same IT partner to be able to cooperate and transfer information with more ease. Choosing Maritech as their trading software partner might just be the first step in our cooperation.”

Image: Konrad og Einar Örn Aðalsteinsson, Hnyfill

Hnýfill chose seafood trading software Maritech Purchase & Sales

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Strong strategic growth in 2021

We are pleased to share our financial results for 2021, revealing strong growth in profitability, SaaS, and strategic revenue.

60 % SaaS growth

In 2021, we continued our investments in innovation, international expansion, and our cloud-based platform, Maritech Cloud, in addition to strengthening the organization for further growth. Focus on profitability and professionalization of the organization led to a positive EBITDA of NOK 15 MNOK for the year, increasing from 1 MNOK in 2020 (Group).

The Maritech Group operating revenue for 2021 was NOK 154 million (148), a growth of 4%. The modest revenue growth is primarily related to a decision to reduce non-strategic revenue. The growth in strategic revenue was significant with an increase of NOK 14 million in ARR (Annual Recurring Revenue) from last year, equivalent to a 21% growth which is mainly driven by growth in SaaS (Software as a Service, recurring revenue) of 60 %.

Extensive potential

“A year to be proud of. This is what first comes to my mind when looking back on 2021,” says Odd Arne Kristengård, CEO. “The year we turned -18 MNOK into black numbers – and the year our cloud software and Maritech Eye™ got a foothold in the global seafood industry. Important milestones for us and our investors, that everyone in Maritech has worked very hard to reach.

“And – we have only just started unleashing our growth potential. The global seafood industry is stronger than ever, and so is the global demand for healthy, sustainable food. Through our cloud platform, we can help our customers add value in new ways.

An example is the recently launched Maritech Processing, integrated with our Maritech Purchase & Sales solution. For the first time, traders can now book production orders directly into the processing system; easy, efficient, and more sustainable – reducing waste.

Odd Arne Kristengård, CEO

New data platform

I would also like to mention the ongoing development of our data platform, which currently includes more than 37 000 measurement points and 1 150 million data values. Our data model is unique, structuring data from aquaculture and wild catch through the value chain to the market.”

“We also see substantial potential for further growth within the transport and logistics segment, where we are recognized as the leader in Norway and have 90 % of the Norwegian export of temperature-controlled goods running through our systems.

Onwards, we are now all set to ensure growth with strong margins, capitalizing on our investments while continuing innovating and starting new initiatives. Our unique competence makes us the company in the world best equipped to deliver on the digital seafood value chain.”

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Full cloud adoption by 2025

“We are now ahead of our plan when it comes to margins,” says Thomas Brevik, CFO. “Regarding revenue, we are behind, but when we adjust for the loss of non-strategic revenue and covid related issues on lack of hardware components, we are on plan, or maybe even slightly ahead, on our strategic revenue. We will continue our global expansion, and we will continue to capitalize on past investments through our strategy for 2021-2025.

From 2022 to 2023 our focus will be cloud conversion and international growth, and we will lift our remaining products and modules to the cloud. From 2023 to 2025 we target to reach full SaaS and Cloud adoption through a full-range cloud offering, offered through standardized and optimized SaaS and recurring service models. We will become truly international as one global Maritech and be fully able to capitalize on our integrated offering across the seafood value chain.”

Read our new annual report here.

Eastbound Seafood chooses Maritech

We are happy to share the news that Eastbound Seafood chooses Maritech to boost efficient and timely delivery and traceability of their high-quality seafood products.

An integrated value chain

We are delighted to welcome Eastbound Seafood as the newest member of the Maritech DigitalSeafood^TM Purchase & Sales family, using our premiere cloud-based software suite for its sales operations across Canada, the USA, and Asia.

DGS Purchase & Sales is tailored to manage seafood sales by ensuring a full company overview, with stringent tracking and control operative throughout the value chain. Developed based on industry best practices, the solution is the core tool in our cloud based DigitalSeafood™ platform in Microsoft Azure.

“Our company has worked closely with local seafood producers and built a network of connections and markets across Canada and internationally. In adopting Maritech’s cloud-based tools, we can further ensure visibility and collaboration throughout our entire supply chain, digitally integrating buying, selling, documentation, and regulatory tasks to ensure the best customer experience possible,” says Jeff Legge, Owner Eastbound Seafood.

About Eastbound Seafood

Eastbound Seafood supplies fresh and frozen seafood to retailers and markets, the food service industry, and seafood companies across Canada, the USA, and Asia.

Based in Dartmouth, NS, the company sources seafood worldwide and has built a reputation for quality products and service.

Ensuring traceability

“We, our partners, and our suppliers, are committed to responsible stewardship of our valuable and finite ocean resources,” says Legge.

“Investing in technology is a decisive factor in helping us achieve our goals of reducing our environmental footprint and ensuring traceability of our seafood products while better delivering responsive, hands-on customer service. We are pleased to partner with Maritech, who share our vision of seafood’s sustainable future.”

Kristjan Kristjansson,Maritech North America — Kristjan Kristjansson, Maritech North America. Credit: Cooked Photography

“Our cloud-based solutions mean that Eastbound Seafood can offer even faster and more deeply integrated collaboration with its partners to ensure smooth and rapid delivery of products backed by seamless documentation,” observes Kristjan Kristjansson, Sales Manager, Maritech NA.

“We are proud to be a partner in Eastbound Seafood’s commitment to industry innovation while preserving and fostering relationships in the very best tradition of the seafood industry.”

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New research: Fish Trading Optimization

In the joint innovation project FishTraOpt, Maritech, Lerøy Seafood Group, Møreforskning and Molde University College are researching how suppliers of farmed fish can use Machine Learning to optimize their sales and demand forecast and allocation plan.

AI-based decision support

Since 2020, Maritech has been cooperating closely with Møreforskning, Molde University College and Lerøy Seafood Group in the Norwegian Research Council founded project FishTraOpt, developing supply and demand planning tools utilizing AI (Artificial Intelligence) and Maritech’s Analytics BI (Business Intelligence) software for faster and more efficient distribution of fish. The goal is to provide valuable decision support for aquaculture companies when planning and allocating fish to sales orders.

“Aquaculture companies harvest large volumes of fish that vary in grades based on size and quality, and other factors such as Global Gap or other environmental or quality certifications,” says Oddvar Husby, VP Data Science in Maritech.

“The production, allocation and logistics processes are characterized by a high degree of complexity and uncertainty. Fish are sold prior to the fish being harvested. This means that the actual size and quality of the harvest available to sell is not known exactly. The products that will be available to be allocated to sales, are initially based on projected forecasts until the actual harvest details are known.”

Oddvar Husby - VP Data Science Maritech — Oddvar Husby – VP Data Science Maritech

Complex processes

“In addition to the potential variation in volume and quality of the harvested fish itself, which are supplied from multiple fish farms and regions, there are also multiple customers with a variety of sales agreements, all of whom may have different quality, volume, product form, and contractual requirements that must be met. Logistical shipping and product allocation planning decisions must be made very quickly as the product is fresh and any unforeseen delays can result in quality degradation.

As there is never a perfect match between supply and demand, it is not always possible to deliver to customers exactly what has been sold. Once the harvest figures are known, sales quantity and prices must often be rapidly renegotiated, and the shipping planned for, in a very short time period.”

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A new trading algorithm

“In the FishTraOpt project, we are developing an algorithm for aquaculture suppliers,” Husby says.

“This algorithm considers factors like fish size distribution, fish certification requirements, customer priority ordering, customer flexibility, contractual obligations, sales prices, and transport logistics, and matches available fish to sales demand. It will be included in new software tools for decision support, which will be available for traders of farmed fish.

Today, both matching of supply and demand and selection of transportation alternatives are done manually, which takes a lot of time and can lead to suboptimal solutions. Based on this research, we will soon be able to solve complex optimization problems for which no automated solution procedures currently exist,” Husby concludes.

Higher margins, optimized decisions

Using Machine Learning to propose an optimal sales and demand forecast and allocation plan, suppliers of farmed fish will achieve:

Higher margins
Increased Revenue
Increased efficiency
Better and faster decisions
Improved ability to adapt to changes
Reduced workload for planners and salespeople

Matorka chose Maritech

About Matorka

Curious? We would love to hear from you!

Have you seen these?

Maritech Iceland is growing!

Fish factories and finance

Several new projects

Iceland + Canada + Norway

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From tree-planting to seafood tech

A love for the east coast

A new opportunity

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News in Maritech Packing and EasyLabel

Maritech Packing

Maritech EasyLabel

Maritech EasyGrade

Packing API

Anything you’d like to ask us?

Integrations

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The First Eye at Sea

Automated catch registration

Blood, Gaping, Fat, Nematodes ++

Maximizing profit and quality

Curious to see how it works?

Hey! Have you read this?

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Welcome to Maritech, Brim and Hnyfill!

Brim testing Maritech Eye

A natural next step

Hnyfill + Maritech

Connected in Boston

Are you curious?

Psst! Have you read this?

Strong strategic growth in 2021

60 % SaaS growth

Extensive potential

New data platform

Would you like to know more?

Full cloud adoption by 2025

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Eastbound Seafood chooses Maritech

An integrated value chain

About Eastbound Seafood

Ensuring traceability

Curious? Let us know!

Psst! Have you seen this?

Sign up for our newsletter!

New research: Fish Trading Optimization

AI-based decision support

Complex processes

Are you curious?

A new trading algorithm

Higher margins, optimized decisions

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Welcome to Maritech,
Brim and Hnyfill!