April 29, 2013 — Slow Money is a national organization dedicated to bringing together investors and entrepreneurs working on sustainable farming and food production businesses. Since 2010, through national gatherings and regional events, the organization has helped funnel $24 million to more than 190 “small food enterprises,” according to its website.
There is also a Slow Money Maine organization, which brings together individuals and prospective investors once every few months for presentations from entrepreneurs. Roth presented his vision for VitaminSea to a Slow Money Maine meeting in January 2012.
Over the years, Roth, 51, gained clients and expanded into producing his own seaweed-based fertilizers and animal feed. But he knew there was untapped potential to produce more high-value seaweed-based food products. So he and his wife, Kelly, started baking granola bars with sesame seeds, almonds, dried cranberries, kelp seaweed and maple syrup and handing them out at farmers markets. Before long, people were asking for the product, which they called SeaCrunch.
Roth made his pitch to potential investors at Slow Money Maine that producing a healthy, locally sourced seaweed food product would be a viable business. He gained three investors and raised roughly $100,000 in capital at the meeting.
The VitaminSea business is growing, with SeaCrunch varieties available in health food and specialty grocery stores around the state. Whole Foods is going to stock the product at its Portland store starting in May, according to Rod Williams, one of VitaminSea’s investors who handles marketing for the company.
Read the full story at the Bangor Daily News