Lysi Expands HQ to Meet Omega-3 Demand

REYKJAVIK, IcelandLysi hf will complete its headquarter expansion on March 31, 2012, which will double its capacity  to produce omega-3 oils. The expanded plant in Reykjavik, Iceland, will process Norwegian cod liver oil, the supply of which was acquired by Lysi in late in 2011 when it purchased Maritex, a local supply of the arctic raw material.

Lysi said the increased production coincides with increasing demand in North America, most of which  is attributed to the success of one of its partners, Boulder, CO-based ArcticSource1. ArcticSource1 became the U.S. distributor of products from Lysi hf in August 2011.

After surpassing expectations last year, ArcticSource1 is budgeted to account for 3 million pounds of omega-3 sales this year," said Agusta Hardardottir, Lysis director of marketing and sales of bulk materials.

The company said all energy consumed at both the current and new plants is generated from clean and renewable geothermal power.