Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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very disappointing set of results
Well, here it goes, results just confirmed what sp was showing, full-year loss quadrupled vs previous year.
Not like situation is critical atm, but another two years like that will sink them.
19th Jul 2022 7:00 am EQS Share Incentive Plan Purchase, Director/PDMR Shareholding and Total Voting Rights
"OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, received notification on 18 July 2022 from Cytec Solutions Corporate Trustees Limited (the "SIP Trustee") in relation to the issue and allotment of 11,200 ordinary shares of 15 pence each in the Company ("Ordinary Shares") for the benefit of participants of the OTAQ Share Incentive Plan (the "SIP"), including those Persons Discharging Managerial Responsibilities of the Company (each, a "PDMR") outlined below in accordance with the rules of the SIP (the "SIP Award").
The SIP is an all-employee trust arrangement approved by HM Revenue and Customs, under which each participating employee will acquire Ordinary Shares at the prevailing market price per share using contributions deducted from pre-tax salary in each calendar month ("Partnership Shares"), with each participating employee being awarded one Ordinary Share for each Partnership Share ("Matching Shares"), using newly issued shares.
Details of the number of Partnership Shares purchased by the PDMR at a price of 15.4 pence per Ordinary Share, and the number of Matching Shares allocated by the SIP Trustee to the PDMR for no consideration, is set out against their name in the table below. ..."
https://www.lse.co.uk/rns/OTAQ/share-incentive-plan-purchase-directorpdmr-shareholding-and-total-voting-rights-4cxd3mdgy5mlexx.html
OTAQ's par value, also known as nominal value, is 15p/share.
So OTAQ is currently trading at below par value: closing today at 13.75p (12.5 - 15p).
Recent Share Trades for Otaq. (OTAQ)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
12-Jul-22 08:00:46 15.78 2,000 Buy* 14.00 16.00 315.60 O
12-Jul-22 08:00:42 16.00 7 Buy* 14.00 16.00 1.12 O
12-Jul-22 08:00:33 14.28 5,000 Buy* 13.00 15.00 714.00 O
12-Jul-22 08:00:24 14.28 5,000 Buy* 13.00 15.00 714.00 O
Today's OTAQ rise shows how little stock is available at about this level.
Only 10,000 shares were available to buy for 14.28p, before someone was having to pay 1.5p more than that for just 2,000 shares - which is the exchange market size.
OTAQ has gone down on pretty low volume, and likewise it could go back up on pretty low volume.
Thanks Torajan for flagging up this OTAQ piece on Proactive Investors today:
"Market Report
Market Movers
Nick Fletcher
11:00 Tue 12 Jul 2022
... 9.04am: OTAQ in demand after Chilean deal
Marine technology group OTAQ PLC (LSE:OTAQ) has seen its shares swim ahead after a deal with a Chilean salmon and sea trout producer.
The agreement with Salmones Antártica will see the company supply its newly launched water quality measurement equipment at several cultivation sites.
The product monitors a site’s oxygen, temperature and salinity levels to provide aquaculture farmers with immediate information about the quality of their water environment.
OTAQ chief executive Phil Newby said: “SASA is a greatly respected salmon producer internationally, and an excellent reference point for OTAQ in the Chilean market. We look forward to working closely with SASA to improve their production yields and broaden our supply agreement.
“After this initial deployment in Chile, customer interest in Scotland and Australia is now being explored. The launch of this product is another important addition to OTAQ’s growing aquaculture solutions portfolio.”
Its shares are up 12.71% to 15.78p. ..."
https://www.proactiveinvestors.co.uk/companies/news/987218/otaq-in-demand-after-deal-with-chilean-salmon-and-trout-producer-987218.html
12th Jul 2022 7:00 am EQS Agreement with leading Chilean salmon & sea trout producer
OTAQ announces agreement with leading Chilean salmon & sea trout producer
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore energy industries, is pleased to announce that it has been appointed as the technology supplier to Salmones Antártica S.A. (“SASA”) for integrated water quality measurement equipment to several cultivation sites, over a full farming cycle.
OTAQ’s newly-launched water quality monitoring product (“WQM”) continually monitors a site’s oxygen, temperature and salinity levels to provide aquaculture farmers with immediate information about the quality of their water environment. Complementary to OTAQ’s Sensor Globe, the WQM solution is designed to be permanently placed in situ at aquaculture farms to also assist with regulatory reporting.
SASA is a top 10 supplier of Chilean salmon by production weight, with over 1000 employees. SASA’s operation is vertically integrated, encompassing the entire production process from reproduction to processing across both freshwater and sea centres, including production of their own food to ensure the quality of their fish.
Boasting roots in the origins and development of Chile’s salmon farming industry, SASA is regarded as one of the industry’s pioneers. Taking the name Salmones Antártica in 1982, they have since become synonymous with high quality production, exporting internationally under the “Five Star” brand.
Phil Newby, Chief Executive at OTAQ, commented:
“SASA is a greatly respected salmon producer internationally, and an excellent reference point for OTAQ in the Chilean market. We look forward to working closely with SASA to improve their production yields and broaden our supply agreement.
“After this initial deployment in Chile, customer interest in Scotland and Australia is now being explored. The launch of this product is another important addition to OTAQ’s growing aquaculture solutions portfolio.”
https://www.lse.co.uk/rns/OTAQ/agreement-with-leading-chilean-salmon-sea-trout-producer-ugopwabnexejwo7.html
Plexus Holdings (POS) has announced a good contract win today, which shows that O&G activity in the North Sea is recovering well.
OTAQ's offshore oil and gas business should be a good beneficiary of this bullish environment.
20th Jun 2022 7:00 am RNS Secures Oceaneering Order
"Secures Oceaneering Order for Plug & Abandonment Campaign
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, is pleased to announce that it has been awarded a Purchase Order for Plug and Abandonment ('P&A') equipment and services from Oceaneering International Services Limited ('Oceaneering'), a division of Oceaneering International Inc., a leading subsea engineering and applied technology company.
The order includes tieback and subsea well control equipment together with hydraulic controls and services. The rental equipment will be used to support Oceaneering's vessel-based P&A services for a six-operator joint campaign in the Dutch Sector of the North Sea.
This order is estimated to generate revenues of circa £500,000 for Plexus in calendar year 2023, and has the potential to lead to other similar work in the North Sea and internationally both with Oceaneering and other customers.
Commenting on the P&A Purchase Order, Plexus' CEO Ben Van Bilderbeek said:
"We are delighted to be working with Oceaneering on this North Sea project and anticipate this opportunity leading to further potential for P&A work for Plexus, especially given the sector's growth forecasts. This new order for our unique services on a multi-well campaign is a major step forward for Plexus and represents a diversification of our business into support-vessel based P&A work.
After many lean years and following the collapse and near collapse of many companies in the oil and gas services sector in 2015/16, it is reassuring to see a widely reported recovery in drilling activity and capital expenditure around the world. Encouragingly this has led to an increased level of interest in our Exact-EX exploration wellhead rental services, Centric-15 mudline hangers and our POS-GRIP "HG" production wellhead technology, for which we are positioning the company to benefit, by way of planned investment in additional inventory and increased customer engagement." ..."
https://www.lse.co.uk/rns/POS/secures-oceaneering-order-ieezou9upisxkzx.html
Hebridean,
This week has seen a sea of red in the markets, with prices crashing across the board, so the fall has to be seen in that context.
There were just a couple of moderate sells yesterday (30,468 and 11,378 shares), about a couple of hours before closing. causing the fall of 21.6%!
The 11,378 shares seller can't know much about OTAQ, or he would surely have waited for today's regular monthly SIP purchase or about that same number of shares, to give him a better sale price:-
17-Jun-22 11:50:22 15.50 11,777 Buy* 14.00 15.00 1,825 O
And it may have been the same seller for both, as they were quite close together.
OTAQ is looking ludicrously undervalued, trading at about net asset value now, with stellar growth prospects, and business appearing to be great.
I certainly think that OTAQ has £100M. market cap. potential, within a few years, which from the current cap. of just £5.47M. clearly gives quite extraordinary upside.
OTAQ has given us two good RNSES very recently (Tuesday 31st. May, and Thursday 9th. June), which were its first real news RNSes of this year, and it makes sense to spread them out a bit, rather than bunching them too closely together.
I believe that trading for the year ending 31st. March 2022 must be relatively in line with expectations, else the company would have more imperative to notify the market earlier.
Technically the company doesn't have to give a trading update at all for last year if trading is relatively in line with expectations, although it wouldn't be good practice to go too long without some sort of update.
But the final results were issued in July for the last two years, despite COVID-19, so potentially this could be brought forward to H2 June, and bypassing the year end trading update.
What will be more interesting though will be to see how this financial year has started, i.e. April-June trading, and the outlook statement.
Could we also see some more non-SIP director share buying at these lowly levels soon?
Well, not before the final results, because we're in the close period, which gives outsiders an advantage in taking advantage of what should be a great, and potentially pretty brief, buying opportunity.
OTAQ has gone down on pretty low volume, and likewise it could go back up on pretty low volume.
There's only a few £K. of stock available at about this level.
I have been expecting a trading update this month, I hope the massive fall in share price today is not related to a poor update when it is announced and just to a 'bad stock market day'.
Does anyone know of the date for the trading update?
The Sensor Globe looks to be a very exciting and complementary addition to OTAQ's growing range. (Sensor Globe appears to be part of Sedana Technologies):-
"Severinsen re-emerges with a "disruptive" water sensor for aquaculture
by The Fish Site
24 March 2021, at 5:29pm
A new water sensor that has been designed to measure a range of water quality and fish welfare parameters in aquaculture installations has been launched by a Canadian seafood tech company, Sedna Technologies.
The wireless Sensor Globe is a powerful multi-functional sensor concept, which can be equipped with various high-end micro-sensors and used to monitor real time data through an app on a smartphone, tablet or via the internet.
It has adjustable internal ballast so that it can either float like a small iceberg, sink or have neutral buoyancy. It measures only 95mm diameter, weighs 325 grams and is designed to “flow-with-the-fish” through pipes, hoses, fish pumps, lice treatment and other machinery. Measuring both water quality and physical impact on the fish (acceleration and shock), which both are crucial for fish welfare.
We are now launching the first version which is available with micro-sensors such as optical oxygen, temperature, pH, acceleration and shock. Later this year nitrate, ammonia and salinity micro-sensors will follow, and we will keep adding many new sensors and features going forward to stay leading edge,” said Sedna’s co-founders, Sheamus MacDonald and Aleksandr Stabenow, in a press release.
The duo originally designed the sensor to ensure the safe transport of live lobsters, but have now partnered up with ex-Akva group executive Trond Severinsen to help them diversify into aquaculture.
Severinsen, who left Akva in 2019, after 25 years, is now Sedna’s Norwegian partner. Together they have just set up Sedna Technologies Norway AS in Stavanger. This will be the hub for commercialising the product throughout Europe, Asia and Africa.
“I am very excited to work with such young and talented entrepreneurs in Canada, to offer my lifelong experience in the aquaculture technology industry and together grow the company, work on R&D, and set up a global sales and service network,” said Severinsen."
https://thefishsite.com/articles/severinsen-re-emerges-with-a-disruptive-water-sensor-for-aquaculture
9th Jun 2022 7:01 am EQS OTAQ announces new agreement with Canadian aquaculture innovator for water quality ‘Sensor Globe’
OTAQ, the marine technology products and solutions group for the global aquaculture, offshore energy and the sport and leisure industries, is pleased to announce a new multi-year distribution agreement with Sensor Globe, the Canadian aquaculture technology innovator. This follows completion of a successful development period leading to OTAQ’s first Sensor Globe customer in Chile.
OTAQ will distribute Sensor Globe’s data collection solution, used to monitor water quality and fish welfare, primarily targeting both the Scottish and Chilean markets, two of the world’s largest producers of farmed salmon.
The Sensor Globe data collection unit is a powerful multi-functional sensor. The globe sensor is designed to ’flow with the fish’ through pumps, pipes, treatments and machinery, measuring the water quality and the physical impact on fish, both of which are essential to fish welfare. The globe allows users to monitor real time data remotely via an intuitive user interface. Data, such as dissolved oxygen, temperature, pH, acceleration, conductivity and shock, can be seen in real time. Alternatively, the globe sensor can simply be left anywhere for months at a time, and its data can then be retrieved for analysis.
Phil Newby, Chief Executive at OTAQ, commented: “The Sensor Globe adds a complementary product to our aquaculture portfolio which builds on the range of solutions already available to our clients. Having secured our first customer for the Sensor Globe in Chile, we are now looking forward to representing the Sensor Globe in our core markets and progressing the market opportunity.”
“We see huge potential in the suite of complementary aquaculture solutions given the positive impacts they can have on fish stock welfare and production volumes.”
Sheamus MacDonald, Chief Executive and Co-founder of Sensor Globe, added: “We are excited to be working with the team at OTAQ. Partnered alongside their technology in Chile and the United Kingdom will allow for us to collectively further enhance fish welfare during all stages of fish production.”
Enquiries:
OTAQ PLC
Via Walbrook
Alex Hambro, Non-Executive Chairman
Phil Newby, Chief Executive Officer
Matt Enright, Chief Financial Officer
Dowgate Capital Ltd (Broker & Adviser)
020 3903 7715
David Poutney/James Serjeant
Nicholas Chambers/Russell Cook
Walbrook PR Ltd
Tel: 020 7933 8780 or Otaq@walbrookpr.com
Tom Cooper/Nick Rome
0797 122 1972 or 07748 325 236 ...
https://www.lse.co.uk/rns/OTAQ/otaq-announces-new-agreement-with-canadian-aquaculture-innovator-for-water-quality-8216sensor-globe8217-o1ftcweareyyc0u.html
OTAQ has recently been advertising for an experienced Senior Engineer for its Connectors division, "As part of continued growth":-
"SENIOR ENGINEER (FULL TIME)
Location: Ulverston Closing Date: 07.03.22
OTAQ is a world leading marine technology group with 5 offices worldwide serving the aquaculture, offshore energy, diving, oceanographic research and defence sectors. Our Connectors division has an enviable reputation as a leading manufacturer of underwater connectors, inserts, penetrators and moulded solutions with clients around the world including end users, distributors and multinational OEMs. OTAQ is a London main market listed PLC.
As part of continued growth, we are now looking an experienced Senior Engineer to act as Technical Authority for our Connectors division. ..."
https://otaq.com/careers/senior-engineer-technical-authority-connectors-full-time/
This bodes well for OTAQ's imminent year-end trading update, which in the two previous years has been issued at about this time:-
1st Jun 2021 7:00 am RNS Trading Update & Notice of Results
https://www.lse.co.uk/rns/OTAQ/trading-update-notice-of-results-o1ukma141j2sqc4.html
10th Jun 2020 7:00 am RNS Trading and COVID-19 Update & Notice of Results
https://www.lse.co.uk/rns/OTAQ/trading-and-covid-19-update-notice-of-results-ovjvu2h3v4zgifp.html
Hedge,
They are working on a contract for railway lines, each piece of maintenance and repair equipment has to be individually identifiable.
The workers have to stay within a specified area.
If they leave a spike or large spanner on the line and a train runs over it there is a derailment, if it is tracked it will not be left behind.
If a member of staff wanders outside of the safe working area a life could be lost, if they are tracked a warning alarm will sound.
Shipping containers is a good one to focus on, as are other high value items, Bikes, Motorbikes, Cars, Caravans, Motorhomes, HGV etc.
"Embarking on an era of smart containers
29 September, 2021|1 min read
To overview
Can the ‘smart container’ be the catalyst to once again revolutionize this industry, traditionally more focused on physical assets? To find the insights, watch this virtual event with our guest speakers of MSC Mediterranean Shipping Company, Digital container shipping association, and Traxens, a market leading developer of container tracking devices."
https://www.ingwb.com/en/insights/online-events/embarking-on-an-era-of-smart-containers
Tracking of shipping containers could present a logical potential use for OTAQ's tracking technology, especially considering the company's maritime focus:-
"Sensor ships: why smart containers are the future of shipping
... Make containers smarter
Smart containers are one way to create a more efficient, safer and more sustainable shipping supply chain. These are much like regular containers, but are pre-installed with sensors.
“A smart container is just a regular container, but you put a little chip in it that has a connection with a network,” explains Jules Kollmann, managing director, Containers and Logistics, ING.
The idea behind equipping containers with an array of sensors is that they can collect real-time data about everything from the temperature inside a container to its exact location – thanks to GPS tracking.
This big data approach promises a lot, so what exactly are the advantages of collecting all that data?
Big data means more efficient, more sustainable outcomes
Collecting such data can help to optimise the supply chain. Sensor data provides hyper-accurate information about the location of a container, allowing for optimised fleet management that results in less repositioning and more efficient use of fuel. Often, energy is wasted as a result of the shipping and repositioning of empty containers: estimates suggest up to $20 billion a year is spent on this activity that leads to unnecessary fuel consumption.(6) Research from the Boston Consulting Group has previously estimated that avoiding empty container shipping “for carrier-specific reasons” could allow the industry to reduce carbon emissions by six million tons per year.(7) ...
The existing manual method of tracking the progress of containers means information shared with customers or port operators is usually outdated, which makes it difficult to predict when ships might arrive at their destination. This can lead to disruptive bottlenecks in the supply chain that can cause unnecessary delays and congestion during the unloading process. This can result in a significant shortage challenge, which countries are increasingly having to face as a reality.(10) Critically, these issues can be avoided in part if data is fed into digital shipment records on time.
“Smart containers create a lot of data, which can ultimately optimise the supply chain,” says Kollmann. “Estimates suggest that there can be a $7 billion cost-saving by creating a more optimised process.”
The sustainability advantages go further. Sensors can also analyse and regulate conditions within the containers. This can ensure that cargo sensitive to temperature, for instance – like food – is not spoiled during the journey. ..."
https://www.ingwb.com/progress/insights-sustainable-transformation/sensor-ships-why-smart-containers-are-the-future-of-shipping
Hi Hebridean9.
Sometimes the spread has been even bigger.
I recall that in March of last year, when the mid price was 28p, the 'headline' spread was 26p - 30p: i.e. a spread of 14.3%.
Large spreads are common for penny shares, though it is often possible to deal inside the 'headline' spread.
And the great multibagger gains from backing a successful growth stock from its lows can easily blow away spread costs.
The best shares can potentially rise 1,000% + long term.
That said, this share is quite illiquid (at the moment at least, though that can change), so is more suitable for buy-&-hold investing than short term trading, but I think that it has the quality and value to be worth holding long term.
And illiquidity is a double-edged sword: it can help to fuel a rise, due to the lack of available stock.
That's why it can be a good idea to try to accumulate a good stake at the lows.
Hello all, I'm a new investor in OTAQ has the share spread always been so big? It's currently 13%.
Totally agree with previous posts there are exciting times ahead for the company.
Thanks for that useful research, Coffeecups.
Winning the tracker technology contract for the Tour de France, the world's pre-eminent bicycle race, is more than just a feather in OTAQ's cap - it's a major coup.
A sign of the quality of OTAQ's products, and the effectiveness of the company's marketing and sales.
NTT Ltd is part of a £70bn revenue technology communications group, so significant additional NTT tracking technology business could could also potentially come OTAQ's way.
And having such a prestigious contract can only help OTAQ sales with other products and companies too.
Been reading up on NTT
They provide digital tracking for the Tour De France ( RNS wording "NTT Ltd following the award of a contract to deliver OTAQ’s bespoke precision tracking devices for a major cycling event in France".)
Also provide tracking for the Isle of Man TT ( RNS wording delivery of over 500 trackers for a major motorcycling event, also in association with NTT)
So in the bag .... Tour De France and the Isle of Man TT.
Next up, from the RNS .... "The Board sees considerable market opportunities for OTAQ's tracking technology, not only in the sports events sector but also in other industries where the monitoring and management of mobile assets can be critical."
That is only one division of the company.
31st May 2022 7:00 am EQS Cycling Event Tracking Contract with NTT
... About OTAQ
OTAQ is a highly innovative marine technology company focused on the marine aquaculture, offshore energy, renewables and oceanographic research sectors. It operates in four worldwide locations: Lancaster, Aberdeen and Ulverston in the UK and Puerto Montt in Chile.
OTAQ's marine technology portfolio includes a market-leading intelligent acoustic deterrent system, Sealfence, designed to protect marine-based aquaculture sites from predation, with multiple systems deployed in Scotland, Chile and Finland.
The Company's Oceansense leak detection systems have a global reputation as the industry standard solution and have been deployed successfully on hundreds of jobs. OTAQ's Dragonfish laser measurement system is fast becoming recognised as one of the most accurate underwater precision laser measurement systems available. OTAQ also has significant experience in the design and manufacture of underwater connectors, penetrators and communication systems.
It seeks to develop and continuously improve its products using its specialist mechanical, electronic and software engineers with decades of experience in bringing underwater technology products to market. Concurrently, OTAQ seeks to expand its technology portfolio through acquisitive growth, with the aim of further expanding its aquaculture and offshore product offering.
OTAQ is proud to be fully ISO 9001:2015 accredited through DNV-GL. ISO 9001 is an internationally recognised quality management system and demonstrates OTAQ's commitment to consistency, continual improvement and customer satisfaction. The certification also demonstrates its ability to consistently deliver products and services to market whilst meeting statutory and regulatory requirements by applying an effective quality management system.
https://www.lse.co.uk/rns/OTAQ/cycling-event-tracking-contract-with-ntt-trdf1kh9rf23n1h.html
31st May 2022 7:00 am EQS Cycling Event Tracking Contract with NTT
OTAQ, the marine technology products and solutions group for the global aquaculture, offshore energy and the sport and leisure industries, announces the continuation of its relationship with NTT Ltd following the award of a contract to deliver OTAQ’s bespoke precision tracking devices for a major cycling event in France. NTT Ltd is part of a £70bn revenue technology communications group.
The OTAQ trackers will be used to precisely monitor the location of the in-race vehicles and other support vehicles used by the race organiser.
The tracker technology was initially acquired through the acquisition of ROS Technology by OTAQ in November 2020, and was fully commercialised in 2021 through the development of prototypes and the completion of successful client field trials, culminating in the delivery of over 500 trackers for a major motorcycling event, also in association with NTT. OTAQ is continuing its product development programme to broaden the applications for this technology. The Board sees considerable market opportunities for OTAQ's tracking technology, not only in the sports events sector but also in other industries where the monitoring and management of mobile assets can be critical.
Phil Newby, Chief Executive at OTAQ, commented: “Competitive sport is a fantastic proving ground for our technology to demonstrate its tolerance and durability. This commercial contract follows extensive trials across differing environments and endorses our approach to developing the product suite for different applications and markets using our core technology. We look forward to continuing our relationship with NTT in the future.”
Tim Wade, Vice-President, Advance Technology Group at NTT, added: “OTAQ’s tracking device gives us very high precision tracking of assets without the need for costly additional infrastructure compared to the alternatives. Accuracy is key in competitive environments where precision has a significant bearing on both the quality of the competition and its safety.”
Contacts:
OTAQ PLC
Via Walbrook
Alex Hambro, Non-Executive Chairman
Phil Newby, Chief Executive Officer
Matt Enright, Chief Financial Officer
Dowgate Capital Ltd (Broker & Adviser)
020 3903 7715
David Poutney/James Serjeant
Nicholas Chambers/Russell Cook
Walbrook PR Ltd
Tel: 020 7933 8780 or Otaq@walbrookpr.com
Tom Cooper/Nick Rome
0797 122 1972 or 07748 325 236 ...
https://www.lse.co.uk/rns/OTAQ/cycling-event-tracking-contract-with-ntt-trdf1kh9rf23n1h.html
"JUNE 10, 2021
Turning research into commerce
Engineering alumnus recognized for 'first-of-its-kind' AI water testing tech for fish farming
By Brian Caldwell
Faculty of Engineering
... The honour in the global impact category comes a month after Blue Lion, which was launched in 2018, teamed up with a leading marine technology company in the United Kingdom to develop an imaging system to warn fish farmers of harmful plankton and algae blooms.
OTAQ announced it is investing $300,000 for an approximate 10-per-cent stake in the Waterloo-based company. The partners are aiming to commercialize the technology within the next 18 months.
... The system based on his doctoral research combines artificial intelligence (AI) software with a custom digital microscope to automatically detect harmful algae in water.
Current testing methods rely primarily on analysis of water samples at off-site labs and results can take up to a week to obtain.
The technology being developed by Deglint and Blue Lion co-founder Katie Thomas, who has a doctorate in biology from the University of Waterloo, would yield results in minutes and effectively function as an early warning system.
Current testing 'prone to human error'
“Essentially, if fish farms want to know what types of organisms are in their water today, the sample ends up on a slide with a human looking at it,” Deglint said in a media release. “It’s a tedious, time-consuming task that’s prone to human error.”
A growing industry, aquaculture represents about a third of the total fisheries value in Canada. Harmful algae blooms are a major source of damage and losses. ..."
https://uwaterloo.ca/news/engineering-entrepreneurship/turning-research-commerce#first%20#AI%20#artificialintelligence%20#fish%20#fishfarms%20#uwaterloo%20#GEDIx
Evidence is increasing that global warming is increasing the threat from algal blooms (aka phytoplankton), which increases the imperative for an early warning system to help combat this threat.
"Warming lochs could lead to increased algal blooms in Scotland, finds research
By DAN SYMONDS April 27, 2022
... The UKCEH researchers warn that warming and changes in rainfall patterns associated with climate change increase the risk of outbreaks of harmful algal blooms, which outcompete other freshwater plant species and produce toxins that can affect animals and people. ..."
https://www.meteorologicaltechnologyinternational.com/news/hydrology/warming-lochs-could-lead-to-increased-algal-blooms-in-scotland-finds-research.html
"Algal bloom
From Wikipedia, the free encyclopedia
... Consequences range from the benign feeding of higher trophic levels to more harmful effects like blocking sunlight from reaching other organisms, causing a depletion of oxygen levels in the water, and, depending on the organism, secreting toxins into the water. Blooms that can injure animals or the ecology, especially those blooms where toxins are secreted by the algae, are usually called "harmful algal blooms" (HAB), and can lead to fish die-offs, cities cutting off water to residents, or states having to close fisheries. The process of the oversupply of nutrients leading to algae growth and oxygen depletion is called eutrophication. ..."
https://en.wikipedia.org/wiki/Algal_bloom
OTAQ has accelerated the development of its phytoplankton early warning detection technology through a collaboration with Blue Lion Labs in Canada, and has expected to be able to demonstrate its effectiveness in the first half of this year.
And Blue Lion has been aiming to commercialise the technology by the end this year.
great company, hope it can weather the storm coming