Vejle, October 31, 2019
Company Announcement No. 19
Following up on company announcement no. 8, entitled “Sustainable solution for controlling algae and bacteria in fish farming”.
In the pursuit of a more sustainable way of farming fish, a test has been conducted using Waturu technology to ensure bacteria-free water for trout fry.
The initial results are positive. Increased growth, better well-being and less algae is observable.
Fish farm operator Jesper Skou states: “It looks promising and the entire fishing industry is looking for more effective ways to fight bacteria”.
The next phase of the agreement with the fish farm is to make an upscale experiment. Therefore, a newly developed Waturu unit will be tested. The aim is to reduce the total amount of bacteria in a larger recirculated aquaculture system (RAS). The unit will process 35 – 50m3 water per hour.
Results are available in Q1 2020.
The impact on Waturu Holding A/S
Based on the promising results, a new subsidiary will be established – Aquaturu A/S.
The company must be capitalized in order to commercialize the Waturu technology targeted at land based fish farming.
There are already potential customers as well as capital partners who have shown interest. Further competencies are sought for both management and operations in the new company.
“It is currently not possible to estimate the operational long-term financial effects, but it is clear that the value of Aquaturu A/S will be significant and that the company’s technology needs will mean increased revenue for Waturu Holding A/S in the business area Process and Wastewater ”, says Group CFO Michael Nørgaard.
Statement from CEO Toke Reedtz:
“Waturu technology has proven to create value in a wide variety of industries and contexts. As the company cannot be an expert in all these many different domains, the approach is, to separate dedicated companies focusing on the specific industry or business area, and in this context, provide the new company with the right skills and necessary capital to be able to focus on these promising business opportunities. In these contexts, it will primarily be capital from investors with in-depth knowledge of the specific business area”.
Waturu Holding A/S
Västra Hammen Corporate Finance AB
211 11 Malmö Sweden
Nasdaq First North Growth Market Important links.:
Financial reports: https://www.waturu.com/documents
Company Linkedin profile: https://www.linkedin.com/company/waturu
Company Facebook profile: https://www.facebook.com/WaturuDenmark/