NCRA - Ringing In The Change For A New Era Of Fishing
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By David Willey, Benzinga
Read a recentprofile of Nocera Inc. here
Nocera Inc. CEO Jeff Cheng rang the Nasdaq Stock Exchange closing bell Sept. 29 as part of thecelebratory recognition of the company’s official NASDAQ listing.
The Tawainesecompany has recently sailed to its stardom partly through its emphasison “budget fish” like tilapia and catfish.
Tilapia hastraditionally been considered a budget fish that has seen increasingpopularity over the years. It has become the second-most farmed fish and is both imported and farmeddomestically in the U.S. Since 2017, the price of tilapia exports has increased from around $4.81 perkilogram to $5.23 per kilogram.
Tilapia saw record high prices in 2021 with U.S. consumption remaining high even as Asian exports faltered. And even as finfish drive the fresh fish price rise in 2022, tilapia prices outdistanced allother finfish, seeing a whopping 37% increase in July compared with last year.
Consequently, somebusinesses see an opportunity to fish for bigger profits by increasingdomestic tilapia production. In 2021, the U.S. imported over 3 million metric tons of edible fish, its largest imports onrecord.
Ridingthe wave of this growth is Nocera Inc. (NASDAQ: NCRA) throughits recirculation aquaculture system (RAS) tanks. Using morecost-friendly materials to produce tanks that can be constructed in amatter of hours, Nocera gives small fish farms the ability to becompetitive in the market. Its high-density tanks can hold 22,000pounds per year of catfish or tilapia, which yields $25,000 to$50,000.
Othercompanies that use RAS fish farms, like Aquabounty TechnologiesInc. (NASDAQ: AQB) Atlantic Sapphire ASA (OTC: AASZF) and Blue Star Foods Corp . (NASDAQ: BSFC), dedicate them to premiumproducts like salmon and crab.
The rise of the split-pond system increased the density at which catfish couldbe farmed, with one expert describing catfish as “entering a new era.” Mississippi farmers - where the most domestic catfish are produced - are seeing record prices for their fish.
However,industry struggles, including transportation costs and decreasing pondacreage, mean that farms still need to increase efficiency. Theinnovative RAS tank technology is bringing this further stage ofdevelopment through its protective, managed ecosystem that reducesboth landmass and waste.
Nocera Is Expanding To Meet DemandFor These Fish
Nocera continues to stretch its fins and expects to construct500 new units by the end of the year, something only made possible byits strong margins. Its tanks produce 80 times more than traditionalfish farms while recycling 90% of the water used. This makes itsproduct a more affordable option for small fish farmers.
Swimming against theindustry current has helped Nocera thrive. From a revenue of $1.8million in 2020, the company saw a significant jump to $9.9million in 2021. In the first six months of 2022 it sawyear-on-year growth of 82% from 2021, bringing in $5.1 million.
However, Nocera'smission is not just about making a profit, it is about transformingthe landscape of fish farming. Perhaps the closing notes of the Nasdaqbell were not just ringing out a day of trading but ringing in a newera of sustainable fishing.
Thisarticle was originally published on Benzinga here .
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.
This post containssponsored advertising content. This content is for informationalpurposes only and is not intended to be investingadvice.
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