Neptune Wellness Solutions

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Neptune Wellness Solutions, Inc.
Nasdaq:  NEPT TSX:  NEPT
Industry Packaged Goods
HeadquartersQuebec, Canada
Key people
Michael Cammarata (CEO)
Website neptunecorp.com

Neptune Wellness Solutions, Inc. is a diversified wellness company that provides nutraceuticals, organic food and beverages, and consumer packaged goods to retail and business customers. [1] Originally known for Antarctic krill oil production, [2] the company previously operated an industrial-scale licensed cannabis processing plant in Quebec, CA, [3] and a hemp processing facility in North Carolina in the U.S. until selling the cannabis business in 2022. [4]

Contents

History

Krill Oil Production and Nutrition Products

Neptune Wellness Solutions (originally Neptune Technologies and Bioresources) [5] was founded by Henri Harland and Luc Rainville in 1998. [6] The Canadian biotech company conducted some of the first research on the health benefits of krill oil and the unique, absorption capacity of its “phospholipid” molecular structure and the fats contained within it. [7] [8] [9] [10] Neptune secured a family of patents - for an extraction process as well as composition and method of use. [10] [11] [12]

In 2002, the company pioneered the production and extraction of Antarctic krill oil. [7] In 2003, after constructing a new facility in Sherbrooke, Quebec, [13] Neptune launched its first product, Neptune Krill Oil, creating a new omega-3 category, manufactured using acetone as a solvent. [7]

In 2012, an explosion in Neptune's processing plant resulted in three deaths and halted production at the facility. [14]  Following the accident, the company spent two years rebuilding the plant and was required to meet several safety conditions before resuming production in 2014.

In January 2016 Neptune expanded its nutrition products offering via the acquisition of privately held dietary supplement solution provider BioDroga. [15]

In 2017, Neptune essentially exited the bulk krill oil manufacturing and distribution business, selling its client list to its main competitor, Aker BioMarine of Oslo, Norway, for $34 million. [16] The company invested to convert its Sherbrooke facility to process cannabis biomass using new cold-ethanol technology [17] and rebranded to Neptune Wellness Solutions. [18] [19]

In 2019 and following a significant transformation of the company via acquisition, divestment, and new business innovation Neptune was recognized for the first time by the Toronto Stock Exchange as a top 30 performing company for the three-year period prior to June 2019 (#8).

In July 2019, Jim Hamilton, CEO since 2015 stepped down at which time his successor Michael Cammarata, the former CEO of Schmidt's Naturals. [20] was appointed as Neptune's CEO.

In 2021 Neptune announced the acquisition of a controlling interest in Sprout Foods. [21]

Cannabis / Hemp Production

Neptune was licensed by Health Canada in January 2019 to enter the cannabis market, allowing the company to manufacture and purify cannabis extracts and oil. [22]   After receiving the license, the company entered into a three-year contract with Canadian companies The Green Organic Dutchman and Tilray, securing cannabis and hemp biomass for extraction of crude resin, winterized oil, and distillate extracts for their products. [23] [24] In May 2019, Neptune entered the U.S. hemp market by acquiring the assets of SugarLeaf Labs and Forest Remedies. [25] The purchase included a 24,000-square-foot cold-ethanol hemp processing facility, located in Conover, NC. [26]

Products

Krill Oil

Made from Antarctic krill, a sustainable and non-genetically modified source of omega-3 fatty acids, Neptune's krill-based supplements are available to consumers in the U.S. and Canada for direct purchase or through its distributors. [19]

Hemp Oil

Neptune produces hemp-derived products exclusively from U.S.-grown hemp. The company is involved in all aspects of product production, including farmer collaboration during the growth cycle to processing, formulating, testing, packaging, and distributing finished products to customers. Its products include ingestibles and topical products and are safe for both humans and pets. [27]  

Cannabis Oil

At its Canadian facility, Neptune extracts, purifies, and formulates cannabis oil for the Canadian and global medical cannabis communities.

Hand Sanitizer

Neptune began distributing U.S.-made, alcohol-based hand sanitizers in response to the COVID-19 pandemic. [28]

Related Research Articles

<span class="mw-page-title-main">Fat</span> Esters of fatty acid or triglycerides

In nutrition, biology, and chemistry, fat usually means any ester of fatty acids, or a mixture of such compounds, most commonly those that occur in living beings or in food.

Omega−3 fatty acids, also called Omega−3 oils, ω−3 fatty acids, Ω-3 Fatty acids or n−3 fatty acids, are polyunsaturated fatty acids (PUFAs) characterized by the presence of a double bond three atoms away from the terminal methyl group in their chemical structure. They are widely distributed in nature, being important constituents of animal lipid metabolism, and they play an important role in the human diet and in human physiology. The three types of omega−3 fatty acids involved in human physiology are α-linolenic acid (ALA), eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). ALA can be found in plants, while DHA and EPA are found in algae and fish. Marine algae and phytoplankton are primary sources of omega−3 fatty acids. DHA and EPA accumulate in fish that eat these algae. Common sources of plant oils containing ALA include walnuts, edible seeds, and flaxseeds as well as hempseed oil, while sources of EPA and DHA include fish and fish oils, and algae oil.

<span class="mw-page-title-main">Margarine</span> Semi-solid oily spread often used as a butter substitute

Margarine is a spread used for flavoring, baking, and cooking. It is most often used as a substitute for butter. Although originally made from animal fats, most margarine consumed today is made from vegetable oil. The spread was originally named oleomargarine from Latin for oleum and Greek margarite. The name was later shortened to margarine.

<span class="mw-page-title-main">Arachidonic acid</span> Fatty acid used metabolically in many organisms

Arachidonic acid is a polyunsaturated omega-6 fatty acid 20:4(ω-6), or 20:4(5,8,11,14). It is formed by biosynthesis from linoleic acid in the diet and occurs in animal fats. It is a precursor in the formation of leukotrienes, prostaglandins, and thromboxanes.

<span class="mw-page-title-main">Hemp oil</span> Oil from hemp seeds

Hemp oil is oil obtained by pressing hemp seeds. Cold pressed, unrefined hemp oil is dark to clear light green in color, with a nutty flavor. The darker the color, the grassier the flavour. It should not be confused with hash oil, a tetrahydrocannabinol-containing oil made from the Cannabis flower.

<span class="mw-page-title-main">Krill oil</span> Commercial oil product from krill

Krill oil is an extract prepared from a species of Antarctic krill, Euphausia superba. Processed krill oil is commonly sold as a dietary supplement. Two components of krill oil are omega-3 fatty acids similar to those in fish oil, and phospholipid-derived fatty acids (PLFA), mainly phosphatidylcholine. Fishing for krill where previously the focus was on marine life of higher trophic level is an example of fishing down the food web.

<span class="mw-page-title-main">Hemp</span> Low-THC cannabis plant

Hemp, or industrial hemp, is a plant in the botanical class of Cannabis sativa cultivars grown specifically for industrial and consumable use. It can be used to make a wide range of products. Along with bamboo, hemp is among the fastest growing plants on Earth. It was also one of the first plants to be spun into usable fiber 50,000 years ago. It can be refined into a variety of commercial items, including paper, rope, textiles, clothing, biodegradable plastics, paint, insulation, biofuel, food, and animal feed.

Fish oil is oil derived from the tissues of oily fish. Fish oils contain the omega-3 fatty acids eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), precursors of certain eicosanoids that are known to reduce inflammation in the body and improve hypertriglyceridemia. There has been a great deal of controversy in the 21st century about the role of fish oil in cardiovascular disease, with recent meta-analyses reaching different conclusions about its potential impact.

<span class="mw-page-title-main">Cannabidiol</span> Phytocannabinoid discovered in 1940

Cannabidiol (CBD) is a phytocannabinoid discovered in 1940. It is one of 113 identified cannabinoids in cannabis plants, along with tetrahydrocannabinol (THC), and accounts for up to 40% of the plant's extract. As of 2022, clinical research on CBD included studies related to the treatment of anxiety, addiction, psychosis, movement disorders, and pain, but there is insufficient high-quality evidence that cannabidiol is effective for these conditions. CBD is also sold as a herbal dietary supplement promoted with unproven claims of particular therapeutic effects.

<span class="mw-page-title-main">Krill fishery</span>

The krill fishery is the commercial fishery of krill, small shrimp-like marine animals that live in the oceans world-wide. The present estimate for the biomass of Antarctic krill is 379 million tonnes. The total global harvest of krill from all fisheries amounts to 150–200,000 tonnes annually, mainly Antarctic krill and North Pacific krill.

<span class="mw-page-title-main">Sunflower oil</span> Oil pressed from the seed of Helianthus annuus

Sunflower oil is the non-volatile oil pressed from the seeds of the sunflower. Sunflower oil is commonly used in food as a frying oil, and in cosmetic formulations as an emollient.

Fatty acid desaturases are a family of enzymes that convert saturated fatty acids into unsaturated fatty acids and polyunsaturated fatty acids. For the common fatty acids of the C18 variety, desaturases convert stearic acid into oleic acid. Other desaturases convert oleic acid into linolenic acid, which is the precursor to alpha-linolenic acid, gamma-linolenic acid, and eicosatrienoic acid.

<span class="mw-page-title-main">Essential fatty acid interactions</span>

There are many fatty acids found in nature. Two types of fatty acids considered essential for human health are the omega-3 and omega-6 types. These two essential fatty acids are necessary for some cellular signalling pathways and are involved in mediating inflammation, protein synthesis, and metabolic pathways in the human body.

<span class="mw-page-title-main">Cannabis flower essential oil</span> Essential oil obtained from the hemp plant

Cannabis flower essential oil, also known as hemp essential oil, is an essential oil obtained by steam distillation from the flowers, panicles, stem, and upper leaves of the hemp plant. Hemp essential oil is distinct from hemp seed oil and hash oil: the former is a vegetable oil that is cold-pressed from the seeds of low-THC varieties of hemp, the latter is a THC-rich extract of dried female hemp flowers (marijuana) or resin (hashish).

Aker BioMarine is a Norwegian fishing and biotech company providing krill products through a fully documented and secured catch and process chain. Based in Oslo, Aker BioMarine is part of the Aker Group and the company also created Eco-Harvesting.

<span class="mw-page-title-main">Hash oil</span> Oleoresin obtained by the extraction of cannabis or hashish

Hash oil or cannabis oil is an oleoresin obtained by the extraction of cannabis or hashish. It is a cannabis concentrate containing many of its resins and terpenes – in particular, tetrahydrocannabinol (THC), cannabidiol (CBD), and other cannabinoids. Hash oil is usually consumed by smoking, vaporizing or eating. Preparations of hash oil may be solid or semi-liquid colloids depending on both production method and temperature and are usually identified by their appearance or characteristics. Color most commonly ranges from transparent golden or light brown, to tan or black. There are various extraction methods, most involving a solvent, such as butane or ethanol.

<span class="mw-page-title-main">Cooking oil</span> Oil consumed by humans, of vegetable or animal origin

Cooking oil is a plant or animal liquid fat used in frying, baking, and other types of cooking. Oil allows higher cooking temperatures than water, making cooking faster and more flavorful, while likewise distributing heat, reducing burning and uneven cooking. It sometimes imparts its own flavor. Cooking oil is also used in food preparation and flavoring not involving heat, such as salad dressings and bread dips.

<span class="mw-page-title-main">Hemp juice</span> Non-psychoactive juice

Hemp juice is a beverage derived from industrial hemp, made from the result of pressing the Cannabis sativa plant. The juice is obtained through a large-scale industrial cold-pressing procedure using the upper parts of the hemp plant as well as the leaves. This procedure distinguishes hemp juice from other hemp products such as hemp oil, hemp sprouts or hemp milk, which are obtained through the seeds of the hemp plant.

Enzymotec was an Israeli speciality chemicals company. It was acquired by Frutarom in Jan 2018.

Michael Cammarata is an American entrepreneur, investor, and wellness industry executive. He is president and chief executive officer of Neptune Wellness Solutions, a Canadian/American wellness company and the co-founder and former chief executive officer of Schmidt’s Naturals, an all-natural personal care company acquired by Unilever in 2017. Cammarata also operates the venture capital fund Random Occurrence.

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