UK-based OTAQ Group to provide technical expertise and commercial scale-up to US-based Minnowtech
June 2, 2020, Lancaster, UK – OTAQ Group, a marine technology company focused on the marine aquaculture, offshore energy, renewables and oceanographic research sectors, today announced its investment in Minnowtech, LLC, an innovative aquaculture technology company that provides an imaging platform to enable shrimp farmers to measure shrimp abundance to optimize feeding.
Using Minnowtech’s unique IP and data-based imaging tool, shrimp farmers are able to optimize the health and growth of their crop, enhancing the harvest of market-size shrimp.
OTAQ Group, a multinational marine technology group listed on the London Stock Exchange, has become a leader in several areas of technology for salmon farming with a client list that includes the world’s biggest fish farming companies.
With this new investment in Minnowtech, OTAQ Group aims to broaden its reach into innovative technologies to help farmers grow other species such as shrimp. This investment gives Minnowtech an industrial partner with technical expertise and decades of in-house aquaculture industry experience to help further develop and launch Minnowtech’s emerging technology. OTAQ Group will additionally assist with hardware development using its expertise in underwater acoustics and electronics.
“We are delighted to have made this deal to support Minnowtech and help them commercialize the fantastic technology they have developed,” said Chris Hyde, Chief Commercial Officer of OTAQ Group. “We believe aquaculture is the key to sustainable food production and are very excited to be involved in a technology specifically aimed at the shrimp sector. This investment fits very well within our strategy.”
“Having OTAQ Group involved is great for us and validates the hard work that the team here has put into our technology,” said Suzan Shahrestani, PhD, founder and CEO of Minnowtech. “Having access to their product development expertise and market knowledge is going be a great advantage for us. We look forward to working closely with OTAQ in the future.”