Otaq Share Discussion Threads

[hedgehog 100] 21/7/2021 17:46

OTAQ's first aquaculture product, Sealfence, was only launched eight years ago, so its huge success from a standing start demonstrates the pent-up demand for such aquaculture technology.

From the Hertsford Capital plc (then to be renamed OTAQ plc) prospectus (dated 24 March 2020):

"Aquaculture

The first aquaculture product which the Existing OTAQ Group has marketed is Sealfence which was launched in 2013.

Sealfence is an ultrasonic deterrent system designed to deter seals and sea lions from marine fish farming sites. Since the first sale of a Sealfence system in 2013, the number of systems in operation has grown rapidly and at 31 December 2019, the Existing OTAQ Group had a base of 1,164 systems on long-term rental contracts (12 at 31 March 2015) and a further 72 systems have been sold in Russia and Finland.

Sealfence uses a unique ultrasonic soundwave delivered through a network of projectors placed around each farm. These projectors work together to create an acoustic “fence” of protection designed to eliminate or reduce significantly seal and sea lion attacks. This has a range of 40m from the location of the Sealfence device. Sealfence has, as standard, remote monitoring of the performance of the system that records the performance of the system and allows full control. The Existing OTAQ Group is continuously developing and upgrading the specification of the equipment.

Whilst the system contains advanced technology it has been designed to cope with permanent installation on the most exposed marine fish farms. Sealfence’s modular design means no cables run between cages and as a result installation and any necessary repair work is relatively simple. The Sealfence system runs for up to 40 hours on battery power.

OTAQ is a recognised brand in the aquaculture industry in Scotland where the Directors believe the Existing OTAQ Group is now the market leader with a market share of over 40% of existing active sites. Clients include major multinationals such as MOWI and The Scottish Salmon Company.

In Chile, the second-largest producer of farmed salmon in the world, the Existing OTAQ Group has had a presence since 2016. The Existing OTAQ Group has deployed systems with a number of major salmon farmers in Chile including Aquachile, Salmones Antarctica, Blumar, Yadran and Multiexport and expects significant growth in this market in the near future. The first multisite programme was launched in February 2019 and the second in October 2019.

The Directors believe that the Enlarged Group is well placed to become one of the global market leaders in predator deterrent products for the salmon farming industry."






The prospectus also shows, for the 9 months ending 31.12.19, the proportion of Sealfence revenues generated on a long-term (48 month) contract basis compared to those on a medium-short term (12-18 month) basis and those revenues which are attributable to sales:

48-month contracts: 84%
12-18 month contracts: 14%
Sales: 2%

I.e. the group has a high proportion of recurring revenues.


And the group's annual revenue has risen over tenfold in the last four years:

Year to 31 March 2017: £374,000
Year to 31 March 2018: £919,000
Year to 31 March 2019: £1,570,000
Year to 31 March 2020: £3,420,000
Year to 31 March 2021: £4,053,000

[hedgehog 100] 21/7/2021 16:38

The year ended 31 March 2021 was clearly entirely covered by the COVID-19 pandemic.

So to report an 18.5% increase in revenue (almost entirely organic growth) in such circumstances is impressive indeed, and shows the robustness of demand for OTAQ's products and services.

And it bodes very well for OTAQ's performance as the pandemic subsides:
"Growth opportunities have been restricted due to the travel restrictions in place but we have taken steps to position the Group to take advantage of market opportunities once restrictions are lifted."

Especially as overseas expansion represents such a tremendous growth opportunity, and one which OTAQ is already starting to capitalise upon:
"The Group continues to grow globally with UK revenue representing 70% of total revenue (2020: 77%). Chile represents 7% (2020: 9%) of total revenue with other European countries account for 11% (2020: 6%) of total revenue and the rest of the world for 12% (2020: 8%) of total revenue."

There seems to be a crying need for OTAQ's products and services, and the group appears to be uniquely placed to exploit this, with its compelling range, strong intellectual property, established business relationships, strong cash position, and public listing.

[hedgehog 100] 21/7/2021 15:11

"No end in sight for acquisitions by UK aquatech group OTAQ

By Dan Gibson July 20, 2021 10:05 BST

The UK aquatech group OTAQ, a growing player in the sector, has reported a highly positive set of results in its first annual financial report. ..."

[hedgehog 100] 21/7/2021 14:57

"OTAQ reports good profits growth

By Editors - 20th July 2021

Marine technology group OTAQ has reported a strong increase in revenue and profits for the year to 31 March 2021.

OTAQ, which makes the SealFence deterrent system as well as a variety of monitoring and analysis technology for the aquaculture sector, has reported an 18.5% increase in revenue, year on year, to £4.05m (2020: £3.42m) and a 17.3% increase in gross profit to £2.3m (2020: £1.96m). EBITDA was up to £542,000 (2020: £451,000).

The company also reports cash balances of £3.1m following the drawdown of a five-year £2m CBILS (Coronavirus Business Interruption Loan Scheme) facility.

During 2020/21, OTAQ acquitted the trade and assets of electronic systems design business ROS Technology, added revenue-generating contracts and made a strategic investment in Minnowtech, taking 15% of that company’s equity.

New product development included the live plankton analysis system for detecting algal blooms, in partnership with Blue Lion Labs LLC, and entering the shrimp biomass detection market through the investment in US-based Minnowtech. ..."

[hedgehog 100] 20/7/2021 11:53

20/07/2021 07:00 UKREG OTAQ PLC Final Results

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces its Final Results for the year ended 31 March 2021.

Financial Highlights

-- 18.5% increase in revenue to GBP4.05m (FY2020: GBP3.42m)
-- 17.3% increase in gross profit to GBP2.30m (FY2020: GBP1.96m)
-- 16.2% increase in adjusted EBITDA to GBP524,000 (FY2020: GBP451,000)
-- Cash balances of GBP3.1m following drawdown of a five-year GBP2m CBILS facility; net cash of GBP627,000 (FY2020: GBP2.86m)

Operating Highlights

-- Achieved strong revenue and gross profit growth across the business
-- GBP0.3m acquisition of ROS Technology Limited's trade and assets
o adding revenue generating contracts and further enhancing OTAQ's aquaculture R&D capability
-- Strategic investment of 15% in Minnowtech LLC
-- Focused on broadening reach through new product development including the live plankton analysis system for detecting algal blooms, in partnership with Blue Lion Labs LLC, and entering the shrimp biomass detection market through the investment in Minnowtech LLC

Alex Hambro, Non-Executive Chairman of OTAQ plc, commented : "Despite the general market backdrop and challenges, this was still an extremely productive period for the Group with positive movement across all of our key financial metrics. Importantly we continued to position ourselves for future growth, having invested in broadening our product suite and reach.

"We remain excited by the growth potential and new products that we are developing as we focus on increasing our market share as well as diversifying our geographic reach and revenue streams. We are building a strong portfolio of innovative aquaculture products focused on reducing production risks as well as increasing yields and sustainability, and are confident that the long-term market fundamentals remain strong. We are also well funded to continue investing in our product base and to consider any further acquisitions we view as a good fit." ...

[hedgehog 100] 17/7/2021 11:02

From TradingView.com:

"OTAQ PLC ORD 15P"

"Technical analysis"

"Oscillators Summary Moving Averages"

"BUY BUY STRONG BUY"

[hedgehog 100] 17/7/2021 10:33

From Investing.com:

"OTAQ Technical Analysis"

"Summary: BUY
Moving Averages: STRONG BUY Buy (7) Sell (5)
Technical Indicators: STRONG BUY Buy (5) Sell (1)"

[hedgehog 100] 16/7/2021 17:31

"Big data and artificial intelligence in the fish industry

New methods reduce costs and increase efficiency

From a global perspective the fish industry has lagged far behind most other industries with regard to the introduction of information technologies. In neither the fishing nor the aquaculture sector have these advanced technologies made sufficient headway so far. Over the past few years, however, a race has begun to catch up and improve the state of the seas and the sustainability of human activities in these important areas. ..."

[hedgehog 100] 16/7/2021 17:08

From the Aquatic Network website:

"Investments & Funding Sources

With the world facing the challenges of a growing population, unsustainable traditional farming practices, overexploited fisheries, and climate change, new food production systems need to be adopted. Aquaculture and closely allied aquaponics (fish and vegetable farming) hold great potential to provide sustainable food resources to address this need.

The aquaculture industry is one of the fastest growing sectors of the food industry. Although more widely established in Asia, aquaculture is expanding in Africa, South America, and North America. ..."

[hedgehog 100] 15/7/2021 17:15

Kemche,

OTAQ, along with OVB, is one of my 'double O' shares, so should appeal to James Bond fans.

Their bullish prospects should provide a real 'licence to thrill' ... or should I say a 'licence to krill' in OTAQ's case!

[kemche] 15/7/2021 11:23

Could this be another trillion dollar company?

[hedgehog 100] 14/7/2021 20:00

"Indian aquaculture startup raises $4 million funding

by The Fish Site
13 July 2021, at 5:00am

Indian startup Aquaconnect, which bills itself as “South Asia's largest aqua farmers’ network”, announced today that it has raised $4 million (INR 29.7 Crores) in a pre-series A round. ...

Aquaconnect's digital platform helps fish and shrimp farmers maximise their income by connecting them with smart farm management tools, financial services and customers. Aquaconnect’s mobile app features predictive SaaS tools for pond management, which improve productivity and help farmers avoid disease risks. This farm data intelligence is then leveraged by Aquaconnect’s omnichannel marketplace, allowing farmers to transact directly with farm input manufacturers, banks, insurance companies, and certification bodies. Finally Aquaconnect’s post-harvest market linkage solution helps shrimp and fish farmers sell their traceable and certified produce to buyers across the globe. Aquaconnect* currently works with over 30,000 aquaculture farmers across Andhra Pradesh, Odisha, Gujarat and Tamil Nadu.

Despite India being the world’s largest exporter of shrimp and second largest aquaculture producer globally, the industry is fraught with various challenges – ranging from unscientific farming practices to inefficiencies in the value chain. Aquaconnect’s full-stack platform provides a 360-degree solution for aquaculture farmers. The startup plans to use this pre-series A funding to strengthen their GIS-enabled fintech product development and accelerate the volume of exports flowing through the platform. They intend to launch their Series A round in six to nine months. ...

Commenting on the investment, Brij Singh, general partner of Rebright Partners, said: “We are backing Aquaconnect to help enable digital transformation in India’s aquaculture industry by supporting all stakeholders to increase exports of high-quality seafood with traceability to key markets like Japan.” ..."

[hedgehog 100] 02/6/2021 10:57

01/06/2021 07:00 UKREG OTAQ PLC Trading Update & Notice of Results

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces a trading update for the 12 months ended 31 March 2021 (the "Period").

The Company expects to announce results for the Period in line with market expectations, subject to audit.

Notwithstanding the inevitable disruption caused to travel in the Period, OTAQ has made considerable progress in advancing its capabilities in product innovation to address ongoing challenges faced by the aquaculture industry to improve welfare and reduce losses for producers. This is being achieved through a combination of in-house development and strategic acquisitions and collaborations with technology innovators to deliver best in class applications. During the Period, OTAQ acquired ROS Technology Ltd and increased its investment in US based Minnowtech LLP. Post the period end, OTAQ invested in and secured a collaboration agreement with artificial intelligence specialist Blue Lion Labs Ltd.

OTAQ expects to announce results for the Period in the latter half of July.

Phil Newby, Chief Executive at OTAQ, commented: " The year has inevitably had its challenges however our staff have responded admirably and delivered a performance that we are very proud of.

"Additionally, we are very pleased to have acquired ROS Technologies, increased our investment in Minnowtech and secured a holding and a collaboration agreement with Blue Lion Labs Ltd, all of which give us exciting opportunities as we pursue our strategy of creating a portfolio of market leading products that improve production management, output and welfare for the global aquaculture sector ."

[hedgehog 100] 22/5/2021 10:50

"Agronomics Limited (LSE: ANIC) is an investment company that is focused on opportunities within the nascent industry of modern foods, which are environmentally friendly alternatives to the traditional production of meat and plant-based sources of nutrition"


Agronomics (ANIC) has more than 5-bagged since the start of October, from just 5p, to its current share price of 28.5p, market capitalisation: £142.03 million.

This shows the very attractive current investment climate for sustainable and healthy food production.

OTAQ could potentially be 'the next ANIC', once the market picks up on this stunning and overlooked gem.

Agronomics (ANIC):

[hedgehog 100] 11/5/2021 16:01

11/05/2021 07:00 UKREG OTAQ PLC Investment in AI Business Blue Lion Labs Ltd

Equity Investment in AI Technology Business

Blue Lion Labs Ltd

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, is pleased to announce a $300,000 equity investment (the "Investment") in Blue Lion Labs Ltd ("Blue Lion"), a Canadian data management and software company developing solutions to multiple water-quality challenges, including real time monitoring of harmful organisms in water to deliver more sustainable food sources. Following completion of the Investment, OTAQ will hold a beneficial interest in approximately 10.0% of Blue Lion's issued ordinary share capital.

In addition, the companies have signed cooperation and licensing agreements which will ultimately allow OTAQ to incorporate Blue Lion's specialty in artificial intelligence technology ("AI") to analyse plankton monitoring data at fish farms. Importantly this will build on and accelerate the development of the Company's own p lankton/algae bloom early detection system, with a view to achieving commercialisation within the next 18 months. As part of the agreement, OTAQ's CEO, Phil Newby, will take a seat on the board of Blue Lion and will help to support its growth.

It is estimated that the global aquaculture industry suffers $3.4 billion in damage and losses annually due to harmful organisms. The collaboration is focused on addressing this in the Company's target markets by creating a solution that will combine OTAQ's hardware expertise and Blue Lion's software expertise to identify harmful levels of phytoplankton by providing real-time information to finfish farmers to allow them to improve welfare and reduce losses.

Blue Lion was established in 2018 by Dr. Jason Deglint and Dr. Katie Thomas, two PhD alumni from the University of Waterloo, Ontario, Canada, with expertise in machine learning and AI, and aquatic biology, respectively. Blue Lion already has the support of incubator and mentorship programmes including Hatch, the Ocean Startup Challenge and NEXT Canada.

OTAQ remains focused on creating a portfolio of products to improve management, efficiency and output as it builds on established relationships within the global aquaculture sector.

Phil Newby, Chief Executive at OTAQ, commented: "We are delighted to be collaborating with Blue Lion. They have an established AI platform and deep experience of its application in this important area that further enhances our ability to deliver a rounded product ahead of schedule. They are a dynamic team and we very much look forward to working together on innovative projects which will add vital new management tools for our clients to improve the welfare and productivity of their stock."

Dr. Jason Deglint, CEO at Blue Lion, added: "The team at Blue Lion Labs is very excited to partner with OTAQ. This Investment and collaboration helps us in executing on our mission to develop innovative solutions to global water-quality issues. Combining our AI technology with OTAQ's hardware platform and distribution infrastructure will provide both companies with an accelerated path to market."

[hedgehog 100] 01/5/2021 19:48

"10 reasons to be cheerful about aquaculture in 2021

by The Fish Site
10 December 2020, at 2:44pm

... New government regulations will prove challenging to fish farms in Chile

“Fish farms in Chile will be under immense pressure to comply with new government regulations that require them to do real-time monitoring of dissolved oxygen, salinity and temperature in and around their fish pens – and then transmit that data immediately to government agencies. There’s going to be steep learning curve for workers, and managers will need to put more thought and planning into their operations,” predicted Juan Pablo Barrales, the company's managing director in Chile.

Concerns about food security create opportunity for aquaculture

“2020 demonstrated that food security needs to be a national priority. With seafood dependence at an all-time high and wild catch fish stocks under stress, we see a prime opportunity for private entities, government and non-governmental organizations to work collaboratively to move forward various US-based aquaculture projects that have been in the works. This will help demonstrate not only the value of aquaculture, but how much operating procedures and technologies have evolved to meet current environmental standards and sustainability goals,” according to Rafael Cordero, vice president of engineering.

... Remote work will fuel improvements in fish farm monitoring and communications

“As upper-level employees embrace the work-from-home lifestyle, fish farm operators will have to look for better ways to manage their farms and mitigate risk. A combination of market pressures and technological advances will lead to better data streams and improved communications on farms. That will give managers better insight into their operations than ever before with real-time environmental data, feed rates and live pen videos available to them 24/7 from anywhere in the world,” noted Tyler Sclodnick, senior scientist.

Seafood consumption will skyrocket as the pandemic eases

“Once we have a working vaccine for Covid-19 in place, the international market for seafood will stabilise. Seafood producers have found new ways of getting their products to the people in this challenging time, and the industry has also focused on the value and importance of sustainable and healthy food. So I expect there will be higher consumption of seafood after the pandemic stabilizes and restaurants open up again. In the aquaculture industry, there is a major focus on innovation and taking advantage of new technology, so I see a bright future for fish farms and the developers of this new technology,” Tor Espen Skoglund, managing director, Norway.

Aquaculture will play a significant role in the post-pandemic world

“The seafood industry will play a key role in the post-pandemic recovery. As hotels, restaurants and other food services come back online, demand for fresh salmon will surge worldwide. With the retail market also growing, this could drive the price of salmon to an all-time high in Q2 or Q3. And as we get past the pandemic in late 2021, food security will become a front-burner issue. Countries will start to examine how they could survive another long-term disruption in the food supply. This will play favourably into the aquaculture industry. Countries with little or no aquaculture will start looking for new ways to develop this safe, sustainable industry locally,” thinks Tim Stone, vice president of product development."

[hedgehog 100] 20/3/2021 16:39

19/03/2021 07:00 UKREG OTAQ PLC Further Investment in Minnowtech

Conversion of Convertible Loan Note and Further Equity Investment in Minnowtech LLP

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, is pleased to announce that it has elected to convert all of its 6 % Convertible L oan Notes (the "CLNs") issued by Minnowtech LLP ("Minnowtech") into ordinary shares in Minnowtech. In addition to converting the CLNs, OTAQ has also agreed to a further equity investment of $150,000 in Minnowtech (the "Equity Investment"). Following conversion of the CLNs and the Equity Investment, OTAQ will hold a beneficial interest in approximately 15.2% of Minnowtech's issued ordinary share capital.

Minnowtech is an innovative US-based aquaculture technology company that has developed a proprietary imaging platform, incorporating OTAQ's sonar technology, that enables commercial-scale shrimp producers to accurately and automatically measure shrimp abundance in order to optimise feeding regimes and reduce disease challenges. Minnowtech's unique IP and data-based imaging tool will enable shrimp farmers to optimise the health and growth of their crop, thereby enhancing the productivity of their shrimp harvest. The Food and Agriculture Organization of the United Nations estimated the size of the farmed shrimp market in 2018 to be 5.1 million tonnes, with a value of $31.2 billion.

The additional investment and the agreement for OTAQ to supply Minnowtech on an exclusive basis with sonar hardware for its shrimp biomass analysis systems strengthens the development agreement entered into in early 2020, giving both parties a stronger relationship and capability in innovative product and market development.

Commenting on the investment in Minnowtech, Phil Newby, Chief Executive at OTAQ, said:

"We have been very impressed by the progress and opportunity at Minnowtech. Our strategy is focussed on exploiting technical collaborations with those who have capabilities in related product areas and with access to new markets for OTAQ. Minnowtech fits this brief well and both sides can see additional opportunities emerging as the developments progress."

Ken Malone, co-founder of Minnowtech added:

"Working closely with the OTAQ group over the last year has accelerated our product development as they bring their experience in commercialising technologies to the partnership. We're excited to expand this relationship as we move into full scale product launch."

[hedgehog 100] 10/3/2021 20:18

25/02/2021 07:00 UK Regulatory (RNS & others) OTAQ PLC Non-Executive Director Appointment

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, is pleased to announce that Malcolm Pye will join the Board of OTAQ as a Non-Executive Director with immediate effect.

Malcolm founded, and from 1999 to 2019 was Chief Executive of, Benchmark Holdings plc ("Benchmark"), the world's leading aquaculture health, nutrition and genetics business.

Malcolm has over 35 years' experience in international agribusiness through his various roles at Hillsdown Holdings (then HMTF Group), and through building Benchmark from the initial start-up into a major international aquaculture technology business serving the global salmon, shrimp, tilapia and farmed fish industries. Malcolm focused Benchmark's activities on animal health, breeding and genetics, advanced nutrition and knowledge/technology delivery and led the flotation of Benchmark in 2013, maintaining a lead role in investor engagement.

Prior to his founding role at Benchmark, Malcolm gained wide experience in the food sector from his various senior management positions within Hillsdown Holdings, operating in animal breeding, poultry production, feed milling and veterinary services. During this time, he developed extensive experience in breeding and genetics, food production/technology, sales (including account lead responsibilities within the UK / international retail sector with a range of bluechip companies including M&S, Tesco and McDonalds) and strategic M&A as well as holding a main board position within the Group.

Malcolm's work with Hillsdown Holdings in the early to mid-1990's influenced a career-long focus on sustainable food production which formed the basis and inspiration for the creation of Benchmark Holdings.

Alex Hambro, Non-Executive Chairman, commented: "We are really delighted to welcome Malcolm to the Board of OTAQ. Malcolm's experience in, and knowledge of, the global aquaculture industry is unparalleled, and will be of huge benefit to OTAQ as it develops and commercialises additional sustainable technologies and services for the aquaculture farming and producing communities. Our core SealFence acoustic deterrence system has significant opportunities for growth in geographies where Malcolm has built strong long-term relationships. Furthermore, his knowledge of additional farmed species other than salmon will be extremely helpful as we expand our range of products ."

Aside from the information set out in the announcement above, no further information is required to be disclosed pursuant to Listing Rule 9.6.13R.




Benchmark (BMK) current market capitalisation: £385.20 million.


Benchmark (BMK):

[hedgehog 100] 10/3/2021 20:07

26/08/2020 10:37 Alliance News DIRECTOR DEALINGS: OTAQ Chair And Non-Exec Director Spend GBP45,000 LSE:OTAQ Otaq Plc
26/08/2020 06:00 UK Regulatory (RNS & others) OTAQ PLC Director/PDMR Shareholding LSE:OTAQ Otaq Plc

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces that on 25 August 2020, Alex Hambro, Non-Executive Chairman, purchased 57,620 ordinary shares of 15 pence each in the Company ("Ordinary Shares") at a price of 35p per Ordinary Share, of which, 14,286 Ordinary Shares were purchased through his SIPP. Alex Hambro now holds a total beneficial interest in 154,286 Ordinary Shares, equivalent to approximately 0.50 per cent. of the Company's total voting rights. Additionally, also on 25 August 2020, George Watt, Non-Executive Director, purchased 70,000 Ordinary Shares at a price of 35p per Ordinary Share. George Watt now holds a total beneficial interest in 120,000 Ordinary Shares, equivalent to approximately 0.39 per cent. of the Company's total voting rights.




10/02/2021 09:57 UK Regulatory (RNS & others) OTAQ PLC Director/PDMR Shareholding LSE:OTAQ Otaq Plc

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, has been informed that on 09 February 2021 Alex Hambro, the Non-Executive Chairman and a person discharging managerial responsibilities, purchased 30,714 ordinary shares of 15 pence each in the Company ("Ordinary Shares") at a price of 31.69 pence per Ordinary Share.

Alex Hambro now has a total beneficial interest in 185,000 Ordinary Shares (of which 45,000 are held in his SIPP), equivalent to approximately 0.61 per cent. of the Company's issued share capital.

[hedgehog 100] 10/3/2021 20:00

03/02/2021 07:00 UK Regulatory (RNS & others) OTAQ PLC GBP2 Million Funding Facility LSE:OTAQ Otaq Plc

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces that it has a signed a five-year GBP2 million Coronavirus Business Interruption Loan Scheme (CBILS) Term Loan Facility with BOOST&Co.

The Company has a strong cash balance of approximately GBP1.4 million as at 31 December 2020 and the Board continues to monitor and explore its financing requirements, particularly to fund further acquisitions as the Company focuses on broadening its product and service portfolio to a global client base. As part of this objective, the Company has therefore fully drawn down on the GBP2m CBILs loan.

Phil Newby, Chief Executive at OTAQ, commented: "We are delighted with the additional flexibility that the loan provides, putting the Company on a strong footing to further grow its portfolio. We already have a number of new products in our pipeline while last year's acquisition of ROS Technology and our investment in Minnowtech's shrimp biomass measurement technology highlight our ability to consolidate our position in the sector."

Joanna Scott, Principal at BOOST&Co, said: "We are delighted to be working with OTAQ on its continuing growth journey and supporting UK businesses during this uncertain time through our CBILS programme. OTAQ's innovative products and dynamic management team put the business in a strong position to capitalise on its growth opportunities in the near future."

[hedgehog 100] 10/3/2021 19:53

09/11/2020 07:00 UK Regulatory (RNS & others) OTAQ PLC Acquisition of ROS Technology LSE:OTAQ Otaq Plc

OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, is pleased to announce the acquisition of the trade and assets of ROS Technology Limited ("ROS Technology ").

OTAQ has acquired the trade and assets of ROS Technology for a consideration of up to GBP300,000 to be satisfied from existing cash resources (the "Acquisition"). The Acquisition consideration comprises initial consideration of GBP225,000 and up to a further GBP75,000 of deferred consideration, payable in two instalments of GBP37,500 over the next two years, subject to certain criteria.

Founded and managed by Dr Peter Robinson, ROS Technology is an innovative technology business which specialises in electronics and mechanical design in multiple industries including aquaculture and offshore. The Acquisition will add existing revenue generating contracts and greatly enhance OTAQ's aquaculture R&D capability as the Company looks to broaden its product offering.

As part of the Acquisition, Peter will join the Company and have responsibility for the continued development of the acquired ROS Technology products as well as joining the existing OTAQ R&D team. A technology innovator for over 40 years and formerly a founder of OTAQ and designer of the original SealFence product, Peter is well known to the Directors of OTAQ and has recently assisted the Company in its work with the US aquaculture company, Minnowtech LLP.

For the unaudited year ended 30 June 2020, ROS Technology generated revenues of approximately GBP312,000 and made a profit before tax of approximately GBP152,000. As at 30 June 2020, its unaudited gross assets amounted to approximately GBP196,000.

Commenting on the Acquisition, Phil Newby, Chief Executive at OTAQ, said:

"We are very pleased to welcome Peter back to OTAQ through the acquisition of his business, ROS Technology. Peter is well known to the Directors of OTAQ and has a first-class track record for developing ground breaking technologies. At a time where OTAQ is broadening its product and service portfolio to a global client base looking for competitive advantage in its markets, this is an exciting addition to our research and development capability."

[hedgehog 100] 10/3/2021 19:45

We Bring Visibility to Your Shrimp Harvest.

Welcome to Minnowtech

Minnowtech's non-invasive technology allows shrimp farmers to know instantly how many shrimp they have in their ponds and their biomass, allowing them to optimize their harvests and livelihoods




About Minnowtech.

Minnowtech is an aquaculture technology company that provides a software imaging platform to enable shrimp farmers to estimate shrimp abundance non-invasively with precision.

Using Minnowtech’s data-based imaging tool, shrimp farmers optimize the health and growth of their hatcheries, enhancing harvest of market-size shrimp while minimizing risks to juvenile shrimp.

With the continued growth of aquaculture worldwide, Minnowtech addresses head-on the industry’s most acute challenge, which is overcoming limitations in how shrimp farmers assess the abundance, growth and optimal harvest times of their crop.

Minnowtech, via its low-cost technology and expert team of marine scientists, helps improve aquaculture farmers’ livelihoods while improving global food security and sustainability of marine environments.

[hedgehog 100] 10/3/2021 19:35

03/06/2020 06:00 RNS Non-Regulatory Hertsford Capital PLC Strategic Alliance with Aquaculture Co Minnowtech LSE:OTAQ Otaq Plc

HERTSFORD CAPITAL PLC

(the 'Company')

(to be renamed OTAQ plc)

OTAQ invests in strategic alliance with innovative US technology aquaculture start-up Minnowtech LLC ('Minnowtech') to add technical and commercial scale-up expertise

The Company, following its reverse takeover of OTAQ Group Limited ('OTAQ'), the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, is pleased to announce that it has entered into a development agreement with a US aquaculture company, Minnowtech.

Minnowtech is an innovative aquaculture technology company that provides an imaging platform to enable shrimp farmers to measure shrimp abundance to optimise feeding. Using Minnowtech's unique IP and data-based imaging tool, shrimp farmers are able to optimise the health and growth of their crop, enhancing the harvest of market-size shrimp.

With this new investment in Minnowtech, OTAQ is broadening its reach into innovative technologies to help farmers grow other species such as shrimp. This investment gives Minnowtech an industrial partner with technical expertise and decades of in-house aquaculture industry experience to help further develop and launch Minnowtech's emerging technology. OTAQ will additionally assist with hardware development using its expertise in underwater acoustics and electronics.

Chris Hyde, Chief Commercial Officer of OTAQ, said: "We are delighted to have entered into this agreement to support Minnowtech and help them commercialise the fantastic technology they have developed.

"We believe aquaculture is one of the keys to sustainable food production and are excited to be involved in a technology specifically aimed at the shrimp sector which fits very well with our strategy."

Suzan Shahrestani, founder and CEO of Minnowtech, added: "Having OTAQ involved is great for us and validates the hard work that the team here has put into our technology.

"Having access to their product development expertise and market knowledge is going be a great advantage for us. We look forward to working closely with OTAQ in the future."

[hedgehog 100] 10/3/2021 19:26

31/03/2020 06:00 UK Regulatory (RNS & others) Hertsford Capital PLC Admission to Trading & First Day of Dealings LSE:OTAQ Otaq Plc

The Company, following its reverse takeover of OTAQ Group Limited ('OTAQ'), the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces its admission to the standard segment of the Official List and initiation of trading on the London Stock Exchange's Main Market at 8.00 a.m. today under the ticker 'OTAQ'. The ISIN of the Ordinary Shares is GB00BK6JQ137 and the SEDOL Code is BK6JQ13.

The admission follows the reverse takeover of OTAQ by the Company and an equity placing raising GBP1.5m. A detailed background to the Company and its capital formation is set out in the Prospectus document which can be found on the Company's website, www.otaq.com . Following Admission, the Company proposes to change its name to OTAQ plc.

Market Leader in Growing Markets

-- As a developer of products for aquaculture, in particular salmon farms, offshore energy, renewables and oceanographic research, OTAQ operates in strong growth markets.

-- Its core aquaculture product, Sealfence, significantly improves yields for the salmon farming industry by reducing the frequency of predator attacks using acoustic technology.

o The International Salmon Farmers Association 2018 Report stated that salmon farming was worth almost $15.4 billion p.a.

o Finfish farming is a GBP138.5bn annual turnover industry.

o Farm-raised seafood expected to rise to 62% of all consumed by 2030, up from 49% in 2012.

o OTAQ holds a 42% market share of predator-defence technology in Scotland, with expected equivalent market share growth in Chile, the world's second-largest salmon farming country with c.6,000 cages.

o The combination of 12 and 48 month rental contracts and recurring monthly purchase orders underpins strong earnings visibility.

o Blue chip client base includes The Scottish Salmon Company, Mowi, Scottish Sea Farms and Multiexport Foods.

o Set to benefit from continued growth in global salmon production.

-- Other products include a range of sub-sea cameras, laser measuring devices, leak detection systems and high integrity electrical connectors for use in the offshore oil & gas market.

-- Diverse geographical reach - including Scotland, Chile, Scandinavia and Russia.
-- During the year ended 31 March 2019 OTAQ generated revenues of GBP1.58m (2018: GBP919,000), EBITDA of GBP50,000 (2018 loss: GBP361,000).

-- Unaudited interim results for the half year ended 30 September 2019 revealed total revenues of GBP1.76 million, EBITDA of GBP315,000.

-- Company to expand its offering by designing, developing and launching new products including biomass measurement and bloom and plankton detection.

-- On Admission, the Company will have 30,548,599 ordinary shares, a market capitalisation of GBP17.6 million on Admission at the placing price of 57.5p. ...