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"No end in sight for acquisitions by UK aquatech group OTAQ
By Dan Gibson July 20, 2021 10:05 BST
The UK aquatech group OTAQ, a growing player in the sector, has reported a highly positive set of results in its first annual financial report. ..."
https://www.undercurrentnews.com/2021/07/20/no-end-in-sight-for-acquisitions-from-uk-aquatech-group-otaq/
"OTAQ reports good profits growth
By Editors - 20th July 2021
Marine technology group OTAQ has reported a strong increase in revenue and profits for the year to 31 March 2021.
OTAQ, which makes the SealFence deterrent system as well as a variety of monitoring and analysis technology for the aquaculture sector, has reported an 18.5% increase in revenue, year on year, to £4.05m (2020: £3.42m) and a 17.3% increase in gross profit to £2.3m (2020: £1.96m). EBITDA was up to £542,000 (2020: £451,000).
The company also reports cash balances of £3.1m following the drawdown of a five-year £2m CBILS (Coronavirus Business Interruption Loan Scheme) facility.
During 2020/21, OTAQ acquitted the trade and assets of electronic systems design business ROS Technology, added revenue-generating contracts and made a strategic investment in Minnowtech, taking 15% of that company’s equity.
New product development included the live plankton analysis system for detecting algal blooms, in partnership with Blue Lion Labs LLC, and entering the shrimp biomass detection market through the investment in US-based Minnowtech. ..."
https://www.fishfarmermagazine.com/news/otaq-reports-good-profits-growth/
20th Jul 2021 7:00 am RNS Final Results
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces its Final Results for the year ended 31 March 2021.
Financial Highlights
· 18.5% increase in revenue to £4.05m (FY2020: £3.42m)
· 17.3% increase in gross profit to £2.30m (FY2020: £1.96m)
· 16.2% increase in adjusted EBITDA to £524,000 (FY2020: £451,000)
· Cash balances of £3.1m following drawdown of a five-year £2m CBILS facility; net cash of £627,000 (FY2020: £2.86m)
Operating Highlights
· Achieved strong revenue and gross profit growth across the business
· £0.3m acquisition of ROS Technology Limited's trade and assets
o adding revenue generating contracts and further enhancing OTAQ's aquaculture R&D capability
· Strategic investment of 15% in Minnowtech LLC
· Focused on broadening reach through new product development including the live plankton analysis system for detecting algal blooms, in partnership with Blue Lion Labs LLC, and entering the shrimp biomass detection market through the investment in Minnowtech LLC
Alex Hambro, Non-Executive Chairman of OTAQ plc, commented: "Despite the general market backdrop and challenges, this was still an extremely productive period for the Group with positive movement across all of our key financial metrics. Importantly we continued to position ourselves for future growth, having invested in broadening our product suite and reach.
"We remain excited by the growth potential and new products that we are developing as we focus on increasing our market share as well as diversifying our geographic reach and revenue streams. We are building a strong portfolio of innovative aquaculture products focused on reducing production risks as well as increasing yields and sustainability, and are confident that the long-term market fundamentals remain strong. We are also well funded to continue investing in our product base and to consider any further acquisitions we view as a good fit." ...
https://www.lse.co.uk/rns/OTAQ/final-results-per68letf081xak.html
"Big data and artificial intelligence in the fish industry
New methods reduce costs and increase efficiency
From a global perspective the fish industry has lagged far behind most other industries with regard to the introduction of information technologies. In neither the fishing nor the aquaculture sector have these advanced technologies made sufficient headway so far. Over the past few years, however, a race has begun to catch up and improve the state of the seas and the sustainability of human activities in these important areas. ..."
http://eurofishmagazine.com/sections/technology/item/625-big-data-and-artificial-intelligence-in-the-fish-industry
From the Aquatic Network website:
"Investments & Funding Sources
With the world facing the challenges of a growing population, unsustainable traditional farming practices, overexploited fisheries, and climate change, new food production systems need to be adopted. Aquaculture and closely allied aquaponics (fish and vegetable farming) hold great potential to provide sustainable food resources to address this need.
The aquaculture industry is one of the fastest growing sectors of the food industry. Although more widely established in Asia, aquaculture is expanding in Africa, South America, and North America. ..."
https://www.aquanet.com/investments
From TradingView.com:
"OTAQ PLC ORD 15P"
"Technical analysis"
"Oscillators Summary Moving Averages"
"BUY BUY STRONG BUY"
https://uk.tradingview.com/symbols/LSE-OTAQ/technicals/
From Investing.com:
"OTAQ Technical Analysis"
"Summary: BUY
Moving Averages: STRONG BUY Buy (7) Sell (5)
Technical Indicators: STRONG BUY Buy (5) Sell (1)"
https://uk.investing.com/equities/otaq-technical
No-one is buying in these quantities...they are the result of a buy or sell order sat on a trading deck....there is very little stock around so they are filling the orders as and when the can. It's been NT to buy all day as there is very little stock around
Why would you buy 3 or 7 shares of anything?? Buying fees must outweigh any gains? If I try and sell it goes into auction, but this has happened for the last few weeks.
There are some delayed trades....impossible to buy anything this morning
What's with the rise today, only a few shares bought??
1st Jun 2021 7:00 am RNS Trading Update & Notice of Results
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces a trading update for the 12 months ended 31 March 2021 (the "Period").
The Company expects to announce results for the Period in line with market expectations, subject to audit.
Notwithstanding the inevitable disruption caused to travel in the Period, OTAQ has made considerable progress in advancing its capabilities in product innovation to address ongoing challenges faced by the aquaculture industry to improve welfare and reduce losses for producers. This is being achieved through a combination of in-house development and strategic acquisitions and collaborations with technology innovators to deliver best in class applications. During the Period, OTAQ acquired ROS Technology Ltd and increased its investment in US based Minnowtech LLP. Post the period end, OTAQ invested in and secured a collaboration agreement with artificial intelligence specialist Blue Lion Labs Ltd.
OTAQ expects to announce results for the Period in the latter half of July.
Phil Newby, Chief Executive at OTAQ, commented: "The year has inevitably had its challenges however our staff have responded admirably and delivered a performance that we are very proud of.
"Additionally, we are very pleased to have acquired ROS Technologies, increased our investment in Minnowtech and secured a holding and a collaboration agreement with Blue Lion Labs Ltd, all of which give us exciting opportunities as we pursue our strategy of creating a portfolio of market leading products that improve production management, output and welfare for the global aquaculture sector."
https://www.lse.co.uk/rns/OTAQ/trading-update-notice-of-results-o1ukma141j2sqc4.html
A bit of a non-rns really .... nice big carrot and a couple of nods & winks ..... roll on the end of July.
But later this year and into next year is when the real value of the aquisitions will start to shine through
@Hedgehog100 Thanks for clearing this up for me. Still learning and this is probably the first company I’ve invested in after a reverse take-over. Opened a small pilot position and will take things from there.
Hi Wild_Card, and welcome.
This unaudited interim report for the period ended 31 December 2019 represented a period prior to the reverse take-over of OTAQ Group Ltd by Hertsford Capital plc, which was formally agreed at a General Meeting by Hertsford shareholders on 27 March 2020.
Since then the company has changed its year end date, and the latest interim results were announced in November:
26th Nov 2020 7:00 am RNS Interim Results
"Strong double-digit growth for the first half suggesting OTAQ is well on track to deliver on full year expectations
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, announces its Interim Results for the half-year ended 30 September 2020. ..."
https://www.lse.co.uk/rns/OTAQ/interim-results-2p0hgdgrzqj8fh7.html
OTAQ is main-listed rather than AIM-listed, so its final results have to be released within four months of its year end, rather than 6 months.
I.e. For the year end 31st. March 2021, by end July 2021.
The finals were announced on 27th. July last year, and were preceded by a full year trading update on 10th. June, so we should be due one imminently.
I'm currently still researching OTAQ. Does anyone know what happened to the half-year results for the period ending 31st Dec 2020 or know when they'll be posted? Half-year results last time were posted on the 31st March 2020 followed by final results on 27th July 2020. So far, my research consists mostly of reading through the RNS's. If anyone has any industry-related articles or interviews to do with OTAQ, feel free to share. Nice low MCAP with the majority of shares snapped up by institutions and individual insiders (according to Simply Wall Street).
"Agronomics Limited (LSE: ANIC) is an investment company that is focused on opportunities within the nascent industry of modern foods, which are environmentally friendly alternatives to the traditional production of meat and plant-based sources of nutrition"
https://agronomics.im/
Agronomics (ANIC) has more than 5-bagged since the start of October, from just 5p, to its current s.p. of 28.5p, market capitalisation: £142.03 million.
This shows the very attractive current investment climate for sustainable and healthy food production.
OTAQ could potentially be 'the next ANIC', once the market picks up on this stunning and overlooked gem.
... Phil Newby, Chief Executive at OTAQ, commented: "We are delighted to be collaborating with Blue Lion. They have an established AI platform and deep experience of its application in this important area that further enhances our ability to deliver a rounded product ahead of schedule. They are a dynamic team and we very much look forward to working together on innovative projects which will add vital new management tools for our clients to improve the welfare and productivity of their stock."
Dr. Jason Deglint, CEO at Blue Lion, added: "The team at Blue Lion Labs is very excited to partner with OTAQ. This Investment and collaboration helps us in executing on our mission to develop innovative solutions to global water-quality issues. Combining our AI technology with OTAQ's hardware platform and distribution infrastructure will provide both companies with an accelerated path to market."
https://www.lse.co.uk/rns/OTAQ/investment-in-ai-business-blue-lion-labs-ltd-02ieyryzcr1u9g5.html
Equity Investment in AI Technology Business
Blue Lion Labs Ltd
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, is pleased to announce a $300,000 equity investment (the "Investment") in Blue Lion Labs Ltd ("Blue Lion"), a Canadian data management and software company developing solutions to multiple water-quality challenges, including real time monitoring of harmful organisms in water to deliver more sustainable food sources. Following completion of the Investment, OTAQ will hold a beneficial interest in approximately 10.0% of Blue Lion's issued ordinary share capital.
In addition, the companies have signed cooperation and licensing agreements which will ultimately allow OTAQ to incorporate Blue Lion's specialty in artificial intelligence technology ("AI") to analyse plankton monitoring data at fish farms. Importantly this will build on and accelerate the development of the Company's own plankton/algae bloom early detection system, with a view to achieving commercialisation within the next 18 months. As part of the agreement, OTAQ's CEO, Phil Newby, will take a seat on the board of Blue Lion and will help to support its growth.
It is estimated that the global aquaculture industry suffers $3.4 billion in damage and losses annually due to harmful organisms. The collaboration is focused on addressing this in the Company's target markets by creating a solution that will combine OTAQ's hardware expertise and Blue Lion's software expertise to identify harmful levels of phytoplankton by providing real-time information to finfish farmers to allow them to improve welfare and reduce losses.
Blue Lion was established in 2018 by Dr. Jason Deglint and Dr. Katie Thomas, two PhD alumni from the University of Waterloo, Ontario, Canada, with expertise in machine learning and AI, and aquatic biology, respectively. Blue Lion already has the support of incubator and mentorship programmes including Hatch, the Ocean Startup Challenge and NEXT Canada.
OTAQ remains focused on creating a portfolio of products to improve management, efficiency and output as it builds on established relationships within the global aquaculture sector.
Phil Newby, Chief Executive at OTAQ, commented: "We are delighted to be collaborating with Blue Lion. They have an established AI platform and deep experience of its application in this important area that further enhances our ability to deliver a rounded product ahead of schedule. They are a dynamic team and we very much look forward to working together on innovative projects which will add vital new management tools for our clients to improve the welfare and productivity of their stock." ...
https://www.lse.co.uk/rns/OTAQ/investment-in-ai-business-blue-lion-labs-ltd-02ieyryzcr1u9g5.html
" ... Seafood consumption will skyrocket as the pandemic eases
“Once we have a working vaccine for Covid-19 in place, the international market for seafood will stabilise. Seafood producers have found new ways of getting their products to the people in this challenging time, and the industry has also focused on the value and importance of sustainable and healthy food. So I expect there will be higher consumption of seafood after the pandemic stabilizes and restaurants open up again. In the aquaculture industry, there is a major focus on innovation and taking advantage of new technology, so I see a bright future for fish farms and the developers of this new technology,” Tor Espen Skoglund, managing director, Norway.
Aquaculture will play a significant role in the post-pandemic world
“The seafood industry will play a key role in the post-pandemic recovery. As hotels, restaurants and other food services come back online, demand for fresh salmon will surge worldwide. With the retail market also growing, this could drive the price of salmon to an all-time high in Q2 or Q3. And as we get past the pandemic in late 2021, food security will become a front-burner issue. Countries will start to examine how they could survive another long-term disruption in the food supply. This will play favourably into the aquaculture industry. Countries with little or no aquaculture will start looking for new ways to develop this safe, sustainable industry locally,” thinks Tim Stone, vice president of product development."
https://thefishsite.com/articles/reasons-to-be-cheerful-in-aquaculture-in-2021
"10 reasons to be cheerful about aquaculture in 2021
by The Fish Site
10 December 2020, at 2:44pm
... New government regulations will prove challenging to fish farms in Chile
“Fish farms in Chile will be under immense pressure to comply with new government regulations that require them to do real-time monitoring of dissolved oxygen, salinity and temperature in and around their fish pens – and then transmit that data immediately to government agencies. There’s going to be steep learning curve for workers, and managers will need to put more thought and planning into their operations,” predicted Juan Pablo Barrales, the company's managing director in Chile.
Concerns about food security create opportunity for aquaculture
“2020 demonstrated that food security needs to be a national priority. With seafood dependence at an all-time high and wild catch fish stocks under stress, we see a prime opportunity for private entities, government and non-governmental organizations to work collaboratively to move forward various US-based aquaculture projects that have been in the works. This will help demonstrate not only the value of aquaculture, but how much operating procedures and technologies have evolved to meet current environmental standards and sustainability goals,” according to Rafael Cordero, vice president of engineering.
... Remote work will fuel improvements in fish farm monitoring and communications
“As upper-level employees embrace the work-from-home lifestyle, fish farm operators will have to look for better ways to manage their farms and mitigate risk. A combination of market pressures and technological advances will lead to better data streams and improved communications on farms. That will give managers better insight into their operations than ever before with real-time environmental data, feed rates and live pen videos available to them 24/7 from anywhere in the world,” noted Tyler Sclodnick, senior scientist. ..."
https://thefishsite.com/articles/reasons-to-be-cheerful-in-aquaculture-in-2021
Bought some more this week. Going to be topping up regularly when I can. This one is an easy bagger.
I bought in for a medium to long term hold, first review date for me is November 2021 for ac's reporting.
I must admit .. I thought there might have been some action this week .. soon I guess