Oberon FMR Wins Top Prize at BioWest 2008 Venture Showcase C...(otein-rich ingredient for animal feed us...)

Date:12/9/2008

otein-rich ingredient for animal feed using a proprietary process. The term "FMR" is an acronym for "fish meal replacement." The protein that results is in high demand by feed companies - in particular by manufacturers supplying feed to industrial-size fish farms around the world, an industry that generates roughly $13 billion per year in sales and is projected to continue to grow. The company is currently conducting feeding trials both with large feed manufacturers and third-party research institutions across multiple species, including shrimp and trout.

According to Oberon CEO Randy Swenson, the company is seeking funding from investors "who have an interest in sustainability, aquaculture, and social issues associated with world hunger and eco-friendly means of waste management." Given the increasingly high cost to dispose of biosolids generated during traditional wastewater treatment, Oberon's method is believed to represent a significant cost savings for food and beverage companies. In addition, the technology could signify potential public relations coups for those who use it, due to increased consumer awareness of and support for products and companies that strive to "go green" in their manufacturing processes.

Oberon was founded in 2002 by Randy Swenson, Andrew Logan, and Seth Terry. Conceptual development, however, began over eight years ago in 2000 by Logan and Terry. According to company co
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