Results Set Stage for Development of Sustainable, Organic Livestock and
BOCA RATON, Fla., Dec. 4 /PRNewswire-FirstCall/ -- Neptune Industries, Inc. (OTC Bulletin Board: NPDI), a next generation aquaculture technology company with diversified interests in production system technology, food science, sustainable seafood, waste-to-energy production, and related natural and organic food products, announced today that Phase II trials on the Company's Ento-Protein(TM) research has been successfully completed.
The completion of Phase II trials represents the pivotal milestone in developing a viable dietary protein alternative in the $7 billion dollar market for fishmeal. Phase I selected four species of suitable insects based upon a myriad of key production and nutritional parameters. The industry has been focused on vegetable-based alternatives, however these proteins are not well digested by carnivorous fish. Phase II trials proved that fish fed a diet containing Ento-Protein(TM) actually tasted better than those fed fishmeal. The final trial, Phase III, will be used to select the proper blend of insects to achieve the fastest growth rate and optimum digestibility in farm raised fish. The Company anticipates completing the Phase III trial in the first quarter of 2008, constructing its first pilot production facility, and bringing product to market by year end.
The Phase II trials compared juvenile hybrid striped bass fed on a typical fishmeal-based diet, with those fed with Neptune's Ento-Protein(TM), consisting of 100% of the fishmeal portion of their diet. Phase II trial results indicated that the fish fed with Ento-Protein(TM) did not change their behavioral patterns. A panel of sensory experts that evaluated the trials indicated that they favored the fish fed with Ento-Protein(TM) over those fish fed with traditional fishmeal.
Ento-Protein(TM) is a patent-pending high protein fishmeal derived from the controlled, mass production of select insect species, for use in fish and livestock diets. The percentage of fishmeal used in fish feed has declined due to a steady rise in price. According to a key report by Pike and Barlow the market for fish feed is expect to grow from 19.5 million metric tons in 2003 to 37.2 million metric tons in 2010. This market could widen substantially, with the addition of a sustainable, high protein alternative such as Ento- Protein(TM).
Neptune Industries has been involved in a cooperative research relationship with Mississippi State University since January 2007. Phase II trials were a collaborative effort between the Departments of Entomology, Wildlife and Fisheries, and Food Science and Technology.
Dr. Lou D'Abramo, Professor, Department of Wildlife and Fisheries at Mississippi State stated, "In the recent feeding trial, the Ento-Protein(TM) replaced fishmeal as an ingredient of a sustainable diet for hybrid striped bass. No differences in feeding behaviors were found when comparing the control group with the test group. This observation represents an important positive step in realizing the potential for Ento-Protein(TM) in becoming an effective replacement for fishmeal in carnivorous fish diets."
Dr. Patti Coggins, Director, Dept. of Food Science and Technology at Mississippi State commented, "The results of our recent sensory evaluation comparing the taste, texture, aroma, and appearance of the fish on the Ento- Protein(TM) feeding trials were very encouraging. A sensory panel of experts actually favored the flavor of the fish fed with the Ento-Protein(TM) diet over fish on the traditional fishmeal based diets. Also worth mentioning was the break through observation that both the raw and cooked fish had less of a 'fishy' aroma due to the Ento-Protein(TM) feeding. This could be seen as a positive attribute for many potential consumers and positively impact the way alternatives for fish feed are viewed."
President of Neptune Industries, Ernest Papadoyianis, stated, "We believe that our Phase II results set the stage for providing a global solution to the protein shortage that has been plaguing the global aquaculture market. Our research team at Mississippi State University is comprised of some of the most experienced, knowledgeable and recognized individuals in their respective fields. Their unanimous positive feedback to date has further fueled our excitement for the commercialization potential of Ento-Protein(TM). We look forward to commencing our Phase III trials for growth and digestibility very soon."
About Neptune Industries:
Based in Boca Raton, Florida, Neptune Industries, Inc. has developed a
scalable, modular aquaculture technology called Aqua-Sphere(TM) and Aqua-
Cell(TM) that successfully address the environmental concerns of most
aquaculture operations by controlling and recycling all waste products,
while insuring the production of the highest quality fish at an affordable
price. The company currently operates the Blue Heron Aqua Farms in Florida
City, FL and is a leading producer of hybrid striped bass, which it markets
internationally as Everglades Striped Bass(TM). The company's current
production at its Blue Heron farm, and future production with
Aqua-Sphere(TM) System technology are intended to target the organic market
as soon as organic certification of farm-raised seafood becomes available.
The Company is also in development of an advanced dietary nutritional
component called Ento- Protein(TM). Ento-Protein(TM) is a high quality,
sustainable protein derived from insects, and is intended to be a
replacement for the scarce fishmeal now used in fish and animal diets. For
further information, please visit the Company's website at:
Investor Relations Contact:
Chelsea Holdings, Inc.
1200 S. Federal Hwy., Suite 200
Boca Raton, FL 33431
Equity Performance Group
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes", "expects", "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
|SOURCE Neptune Industries|
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