02.08.07
Cornwall to produce UK's first ocean-harvested culinary sea salt

Construction of the UK's first sea salt plant that harvests direct from the ocean has begun in a unique location at Porthkerris on the Lizard Peninsula, following a six-figure investment that will create up to 15 jobs in the region.

The Cornish Sea Salt Company will be producing a flaky, white culinary sea salt that will be hand-harvested from the clear Atlantic waters of Cornwall and is a purer, healthier and tastier alternative to traditional table salt.

The project got the go-ahead following a financial deal with Finance Cornwall, the YFM Group managed South West Ventures Fund, Bank of Scotland and the South West Investment Group.

Tony Fraser, managing director and resident of St Keverne, has worked on the idea for nearly three years and built on his experience as a natural resource specialist. His idea for the project came about after visiting an Iron Age salt production site on the coast of the Lizard. He set up the Cornish Sea Salt Company with the aim to establish the first ever sea salt facility in the UK to harvest directly from the ocean.

Tony stated: "Cornish Sea Salt Co will be providing employment for up to 15 local people and will utilise sustainable, energy efficient and environmentally sound methods. We have had tremendous support from the local community and we want to be a business that they can be proud of."

"Deeply rooted in Cornwall, Cornish Sea Salt Co values its Cornish provenance and the brand will focus on Cornwall's heritage and fresh, clean coastline," says Ellie Bradshaw, Marketing Director for Cornish Sea Salt. "Born and bred in Cornwall, I am thrilled to be part of this new and exciting venture that will add to Cornwall's already diverse and interesting culinary and gastronomic reputation. It is our intention to work closely with local retailers and chefs alike to bring Cornish Sea Salt to your table in the Autumn."

Robert Seymour, Managing Director of Finance Cornwall, said: "We are always delighted to invest in projects that create or safeguard jobs in the region and are sustainable and environmentally sound. In addition it is great to be behind a brand that I have no doubt will grow and appear on shopping lists around the world."

Julian Dennard from YFM Group said: "This latest deal on behalf of Cornish Sea Salt represents a great opportunity to support a pioneering company that will have a positive impact on its local economy and create more jobs. Cornish Sea Salt is a strong brand that we believe will gain strong support from the catering and hospitality industries and consumers alike. We look forward to working closely with Cornish Sea Salt and helping other companies in the region that have similar high growth potential."

For more information please contact Samantha McKay, telephone 01752 762121/ 07796 957677 or email stuart@formedia.co.uk.

The Objective One Programme for Cornwall and the Isles of Scilly has invested in the Finance Cornwall project through the European Regional Development Fund (ERDF).

Editor's notes:

Cornish Sea Salt Co has received equity investment from funds managed by Finance Cornwall and from the YFM Group managed South West Venture Fund.

Finance Cornwall is part funded by the EU through the Objective One Programme for Cornwall and the Isles of Scilly and is a £20m venture investment fund targeting small and medium sized enterprises in this region with a range of equity, mezzanine and debt capital. Finance Cornwall can lend or invest from £20,000 to £1 million per business and, to date, has invested £8.5 million in over 100 businesses.

Finance Cornwall Fund Managers Limited is an investment company authorised and regulated by the Financial Services Authority registered in England and Wales, number 05010380, registered address 14 High Cross, Truro, Cornwall, TR1 2AJ.

YFM Group manages the South West Ventures Fund, which is a £25m fund that has been set up to provide venture capital to small and medium sized enterprises (SMEs) based in the South West of England. Initial investment can be up to £250,000 with an ability to invest a further £250,000 after six months. In certain circumstances, alongside other new investors, the Fund can follow on its investments to provide a total of £2.5 million to one company. To date the fund has invested £5.8m in 22 companies. South West Ventures Fund is managed by YFM Venture Finance Limited, part of the YFM Group. YFM Venture Finance Limited is authorised and regulated by the Financial Services Authority.

John Nicholls Builders, from Goonhavern, is constructing the sea salt plant.

Clare Morgan
Media Relations Manager
Objective One Partnership Office
Castle House
Pydar Street
Truro TR1 2UD
Mobile: 07973 813647
Telephone: 01872 223439

cmorgan@cornwall.gov.uk

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