From Tackle To Table: The Fish Farm Company Diving Into Taiwan's Zero-Hunger Campaign
September 21, 2022 at 14:01 PM EDT
As demand for healthy seafood continues to rise, there are several companies getting involved in selling fish farmed through the land-based recirculating aquaculture system (RAS) business- which can often command higher prices on the market.
Atlantic Saphire ASA (OTCQX: AASZF) is one company that uses RAS to farm salmon in Denmark and Florida. Another is Blue Star Foods Corp. (NASDAQ: BSFC), a company deploying RAS to farm premium crab and steelhead salmon.
However, one company that works primarily on RAS production and construction is branching out further in its efforts to get healthy and affordable food on people’s tables. The company in question is Taiwan-based Nocera Inc. (NASDAQ: NCRA).
Nocera has pitched itself as a company that provides RAS technology that is more affordable than many of its competitors, allowing smaller fish farmers to produce local, cheaper fish like tilapia and catfish for their communities.
Now, it is stepping into the retail food market in an effort to bring affordable solutions to consumers’ tables. Nocera’s move comes at a time in America when groceries are seeing their widest inflationary gap over restaurant and pre-prepared food in decades, a result of what one economist described as a perfect storm of inflammatory causes.
Food Crisis Providing Affordable Food Option To The Common People
A similar food price storm in Taiwan is causing the local government in Nocera’s home country to intervene in its domestic market. Christened the “bento policy” by some, the government is rolling out discounted bento boxes in an effort to make food more affordable for its citizens.
A bento box is a complete meal with protein, a carbohydrate and several sides. Providing the bento box is a central part of the Taiwan agricultural agency’s zero-hunger initiative, a move geared toward agricultural education through supporting local farmers and ensuring people have sufficient access to food.
In this context, Nocera recently acquired an 80% controlling interest in Meixin Institutional Food Development Co Ltd. This Tawainese company focuses on ready meals, bento boxes and fruit and vegetables.
This acquisition is forecasted to earn Nocera $10 million in revenue in 2023.
“We are very excited about our acquisition of a controlling interest in Meixin and anticipate that Miexin will provide us with a substantial advantage,” Nocera CEO Jeff Cheng said. "Our recirculatory aquaculture systems are green using recirculating water, and we believe our bento boxes and food products will generate revenue daily."
Nocera also recently declared its best year yet in financial revenue. It reported $9.9 million for 2021, which was a 733% increase from 2020.
Learn more about Nocera Inc. by visiting its website.
Nocera, Inc. is an engineering, procurement, and construction (EPC) company that designs, builds, and installs equipment for the fish farming industry, as well as provides technical assistance to fish farm operations. Our Recirculating Aquaculture Systems (“RAS”) help preserve the environment by reducing pollution from over concentration of fish as often occurs in fish farms based in natural inland waterways or bodies. Nocera’s RAS tanks can produce 20,000 – 30,000 lbs. of fish annually.
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Christine Petraglia - TraDigital IR