Nocera provides additional clarity on its path to 100m in revenues through its innovative fish farm recirculating system. The company plans to open 10 major fish farms in the US. Each with the capacity to launch 500 Nocera RAS tanks each with a maximum capacity of 100 ‘000 lbs of catfish a year. At maximum capacity an entire farm would yield 50m lbs of fish a year. Each pound of fish currently sells for $2 to a fish processor. If processed by Nocera through Nocera’s owned processor, each pound of fish would net $3 profit to the company. With each farm containing 500 tanks, the farm would generate 50m pounds of fish. 50m pounds of fish sold through existing processor relationships would net the company $100m in top line revenue and with current economics upwards of $60m in profit. In the US, the average person consumes 17 pounds of seafood a year with the entire US population consuming 6B pounds of seafood yearly and growing 5% year on year. A Nocera fish farm operating at maximum capacity would only account for 8.3% of the current US market. The company expects to announce further developments of its US large scale fish farm plan soon in a model that can be replicated in other states.
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