BioFishency completes $800,000 in sales in 2018
BioFishency announced that it has completed sales of approximately $800,000 to date in 2018. In just three months, the Company increased sales by a 44% compared to its sales for all of 2017. BioFishency projects at least another $1 million in sales by the end of 2018. The increase is due to expansion into multiple countries and growth in areas where the Company already has successfully operating systems, including Israel, Congo, China, Bangladesh, India, and Indonesia.
As the world’s population looks to increase the production of protein to meet the growing demand, fish provide a significant solution. However, the pressure on water and land resources make growth in the aquaculture market challenging.
The BioFishency Mini RAS (Recirculating Aquaculture System) makes water treatment available in aquaculture ventures that use fresh, brackish or seawater in the ponds. The Mini RAS overcomes two main obstacles in commercial fish growing: limited water availability and toxic ammonia accumulation from fish waste. The plug-and-play system has demonstrated a reduction in water consumption by up to 85% while increasing yields by approximately 2.5 times.
BioFishency’s all-in-one water treatment systems for land-based aquaculture overcome limitations of water availability and increase fish yields.
Further plans for 2018 include BioFishency’s licensing of a new technology from the Technion Research & Development Foundation to develop an additional product line. The technology under development will suit cold water applications, extending BioFishency’s product lines to all sectors of the land-based aquaculture market. (BioFishency’s current product families work with all types of warm water aquaculture systems.)
According to BioFishency CTO Igal Magen, “BioFishency’s system leverages the potential growth of aquaculture production and has the potential to close the ‘technology gap’ for many fish farmers. We are excited about developing a new product line and looking forward to a very successful year ahead. We welcome partnerships with strategics or investors who want to be a part of the global food solution.”