The Iceland Ocean Cluster’s mission is to create value and discover new opportunities by connecting entrepreneurs, businesses and knowledge in the marine industries.

New IOC visual description tells it all!

We are cooperators & we connect people within the seafood value chain; marine industry, entrepreneurs, government and academia.

The Ocean Cluster House is the magic formula for the cross pollination; connecting people with good design & coffee. 

We have spawned a number of successful companies through our incubator and accelerator. 

Our mission is to create more dynamism and modernization to the seafood industry worldwide. 

Our 100% fish utilization strategy aims to help fishermen to create more value with less catch.

We are born on an island which sees global warming everyday, with melting ice and the danger of “sour” seas. Our emphasis #1 is on sustainability and healing our oceans.

From Sea to Land: Increased Inland Processing of Groundfish in Iceland

Iceland Ocean Cluster and Arctica Finance are publishing new analysis about the inland processing of ground fish.

Ground fish processing in Iceland has increasingly moved from sea to land in recent years. This is evidenced by a change in the fishing fleet composition and landed catch. Since 2010, the number of freezer trawlers has decreased by 43% and the portion of landed cod by freezer trawlers has gone down by 9.5%. Furthermore, four wet fish trawlers have been added to the fleet and the fleet’s portion of landed cod has increased by 9%. This development in ground fish processing stems from several sources, but chiefly from the incentive of greater economic efficiency, viz. higher prices for fresh fish as well as lower labor costs (relative to revenue) and higher EBITDA of vertically integrated companies. Other major contributing factors in this progression include a resource tax and technological advancements.

To read the full analysis report, please press here.

For further information, please contact the authors Dr. Thor Sigfusson at or Huni Johannesson at 


Exported technology matches export value of cod fillets in 2018

A new analysis published by the Iceland Ocean Cluster focuses on the seafood tech industry in Iceland and its progress in the last few years. The year 2018 marks the first year when turnover in seafood processing technology, fishing gear technology etc in Iceland matches the export value of cod fillets. This fact shows the opportunities in developing a vibrant industry in various sectors related to the core fisheries; an ocean cluster.

There are around 65 tech companies in Iceland which are exporting processing technology, cooling equipment, turnkey solutions for fish processing on- and off shore, fishing gear, packaging etc. 

The turnover of these 65 companies was around 80 billion ISK (USD 650 million) in 2018.

The ten largest seafood processing tech companies are:

  • Marel                                                
  • Skaginn3X
  • Héðinn
  • Kælismiðjan Frost
  • Valka
  • Vaki
  • Curio
  • Naust Marine
  • Rafeyri
  • Samey

These ten largest had a turnover in 2018 (in seafood related business) of 42 billion ISK (USD 330 million). Some of these companies have grown very rapidly in recent years due to investments in new ships and processing technology in Russia and growth of global aquaculture.  In fish gear, Hampiðjan, a world leader in fishing gear manufacturing, is the largest in Iceland. Icelandic companies in packaging and containers include Samhentir, Promens and Saeplast.

Various start-ups are being formed in „new“ parts of the industry such as traceability, environmental management, artificial intelligence etc. Many of these new start-ups and enterprises have grown fast and may become key players in the seafood industry of the future.



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