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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."
https://www.otaq-ir.com/investors/corporate-documents
https://www.otaq-ir.com/docs/librariesprovider59/default-document-library/final-hertsford-prospectus-24-march-2020.pdf