NCRA - Nocera — A Company Fishing For Green Energy Solutions?
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U.S. fishing andaquaculture is a major industry, with its pre-pandemic 2019 value sitting at $255 billion.
But the industry was seriously affected by COVID— both from restaurant closings and interruptions to the globalsupply chain — with fishery imports falling 37% in just the first few months of 2020. This did not necessarily reflecta decline in fish consumption; infact , retail fish sales increased even while food-service fishsales rapidly declined.
This may make the market situation particularly attractive tocompanies like Nocera Inc. (OTC: NCRA), which says it hasaspirations to enter the U.S. fish and aquaculture market.
Nocera is a U.S. recirculating aquaculturesystem (RAS) production and consulting company based in Taiwan. Itreports that it provides services in engineering, procurement andconstruction (EPC) of its land-based fish farms and is focused oncost-efficiency and sustainability.
Swimming Upstream in aPolluted Market?
Nocera reports that its farms are efficient, with its tanksproducing up to 30,000 pounds of fish annually — and that its workis also in line with the United Nation’s SustainableDevelopment Goals to minimize waste and pollution.
Nocera boasts that it isable to recycle 90% of the water used to maximize the energyefficiency loop, and has also introduced a system where solar panels standing above the fish tanks cansatisfy the farm’s energy needs.
It matches this sustainability with productionefficiency, which means it is able to farm at 80 times the productionrate of a traditional fish farm, according to its website . Thismodel, with tanks that have reportedly minimal production costs whilealso outproducing alternatives, may attract smaller farms that see itas an opportunity to enter the market.
When matched with a goal of a cost-effectiveproduction model, this has seemingly led to growth allowing Nocera toproudly describe itself as “the most recommended circulating waterequipment company in Asia” as of December2020 . Company growth continued ,with 2021 seeing $9.9 million in revenue, an increase of over 700%from 2020.
NoceraCEO Jeff Cheng reacted to 2021 results saying, “We are pleased to reportsignificant growth in our total sales, operating income andshareholders’ equity. Fiscal 2021 saw strong growth in ourconstruction services division. We expect there to be continued strongdemand for our recirculating aquaculture systems as well asconstruction services.”
The company states that it achieves this partly through itscost-effective building materials and its emphasis on tilapia. Tilapiais relatively cheap to farm, and in a fish market dominated by mainlyNorwegian salmon farms like Mowi ASA (OTC: MHGVY) and LerøySeafood Group ASA (OTC: LYSFF), along with HF Foods Group Inc(NASDAQ: HFFG) Blue Star Foods (NASDAQ:BSFC) andAquaBountyTechnologies (NASDAQ:AQB) Nocera is hoping its emphasis on tilapia andcatfish will be beneficial — especially as the tilapia market is forecast to grow at a compound annual rate of 6.1% from 2021 to2026.
Learn more about Nocera byvisiting its website .
Nocera,Inc. is an engineering, procurement, and construction (EPC) companythat designs, builds, and installs equipment for the fish farmingindustry, as well as provides technical assistance to fish farmoperations. Our Recirculating Aquaculture Systems (“RAS”) helppreserve the environment by reducing pollution from over concentrationof fish as often occurs in fish farms based in natural inlandwaterways or bodies. Nocera’s RAS tanks can produce 20,000 –30,000 lbs. of fish annually.
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