Neptune Wellness Solutions

Krill Oil Production and Nutrition Products

Neptune Wellness Solutions was founded by Henri Harland and Luc Rainville in 1998. 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. Neptune secured a family of patents - for an extraction process as well as composition and method of use.In 2002, the company pioneered the production and extraction of Antarctic krill oil. In 2003, after constructing a new facility in Sherbrooke, Quebec, Neptune launched its first product, Neptune Krill Oil, creating a new omega-3 category, manufactured using acetone as a solvent.In 2012, an explosion in Neptune's processing plant resulted in three deaths and halted production at the facility. 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.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. The company invested the proceeds of the sale toward the $70 million conversion project of its Sherbrooke facility to process cannabis biomass using new cold-ethanol technology and rebranded to Neptune Wellness Solutions.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 .

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

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. 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. In May 2019, Neptune entered the U.S. hemp market by acquiring the assets of SugarLeaf Labs and Forest Remedies. The purchase included a 24,000-square-foot cold-ethanol hemp processing facility, located in Conover, NC.In July 2019, Jim Hamilton, CEO since 2015 stepped down at which time his successor Michael Cammarata, the former CEO of Schmidt's Naturals. was appointed as Neptune's CEO.