Riverside Lobster to receive $1M in federal funding

Jul. 21, 2016 – Riverside Lobster International, a Canadian live lobster exporter, says it plans to purchase new equipment with the help of a $1-million investment from the federal government.

Made available through Atlantic Canada Opportunities Agency’s (ACOA) Business Development Program (BDP), the investment will go towards the purchase of a Hiperbaric high pressure processing machine to help improve lobster meat extraction, and a Laitram continuous steam cooker. The new equipment will also “modernize and expand its processing facility and increase product yields while reducing costs” for both local and international customers, it said.

“Here at Riverside Lobster we value our customers and work diligently to provide them with superior products. The equipment we are introducing into our facility will allow us to produce a variety of high quality products that new and existing customers are sure to enjoy,” said David Deveau, owner of Riverside Lobster International.

“Lobster fishing in Atlantic Canada is an important part of our heritage. The significance that this industry has on our economy reverberates throughout the province. After all, lobster is Canada’s most valuable seafood export — representing as much as $1 billion in export sales annually. We’re very pleased to be supporting a company that is thriving right here in Nova Scotia,” added Colin Fraser, MP for West Nova.

Based in Meteghan River, N.S., Riverside Lobster International handles approximately 12 million pounds of lobster annually, sourced from 40 local fishermen along with other live lobster companies from across the region.