Ulva spp. (sea lettuce) has recently gained attention as a sustainable protein source due to its high productivity and many nutritional properties interesting for the food industry. In this study, we explored a possible industrial symbiosis between herring production processing industries and Ulva fenestrata cultivation. We show that U. fenestrata cultivated in herring production process waters had four to six times higher biomass yields (27.17 - 37.07 g fresh weight vs. 6.18 g fresh weight) and three times higher crude protein content (> 30% dry weight vs. 10% dry weight) compared to U. fenestrata cultivated in seawater. Along with the elevation of protein, the herring production process waters also significantly increased levels of all essential amino acids in the seaweed biomass. The content of some heavy metals (arsenic, mercury, lead, and cadmium) was well below the maximum allowed levels in foodstuff. Therefore, quantities of biomass around 100 g dry weight could be consumed daily following the US Environmental Protection Agency’s reference doses. Combined, the results show that cultivation of U. fenestrata in herring production process waters has great potential to produce sustainable proteins for the growing world population. At the same time, nutrients of currently discarded process waters are circulated back to the food chain.