OTAQ signs contract with Ireland seafood development agency

Source: Market Screener

OTAQ PLC - Lancaster, England-based technology for aquaculture and other offshore markets, including sonar monitoring and subsea leak detection - Wins contract with Bord Iascaigh Mhara, Ireland's seafood development agency, for two of its Live Plankton Analysis System units, on an initial rental through the end of this year. OTAQ doesn't provide the value of the contract. One of the LPAS units will be used by an unnamed "global seafood producer" that has seen algae blooms reduce stocks at its Irish sites in recent years. The system uses artificial intelligence technology to automate the identification and quantification of harmful algae and streamline monitoring, OTAQ explains.

"The aquaculture industry is increasingly challenged by the threat of harmful algal blooms, which can devastate fish populations and lead to significant financial losses for farms worldwide," says OTAQ Chief Commercial Officer Richard Beesley.

Current stock price: 3.50 pence on Aquis Stock Exchange

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.