11th May 2021 19:42
OTAQ PLC - Lancaster-based marine aquaculture technology company - Invests USD300,000 equity investment in Canadian data management and software company Blue Lion Labs Ltd, focused on water-quality challenges.
Following the investment, OTAQ will hold a 10% interest in Blue Lion. In addition, both companies have signed a cooperation and licensing agreement, allowing OTAQ to incorporate Blue Lion's expertise in AI technology to analyse plankton monitoring data at fish farms.
"We are delighted to be collaborating with Blue Lion. They have an established AI platform and deep experience of its application in this important area that further enhances our ability to deliver a rounded product ahead of schedule. They are a dynamic team and we very much look forward to working together on innovative projects which will add vital new management tools for our clients to improve the welfare and productivity of their stock," says Chief Executive Phil Newby.
Current stock price: 32.66 pence
Year-to-date change: up 19%
By Dayo Laniyan; [email protected]
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