Neptune Partnership Opens the Door to Asia

Neptune Technologies & Bioressources

TSXV: NTB - NASDAQ: NEPT
Basic Shares: 48.2 million
Fully diluted: 53.9 million

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Today Neptune Technologies & Bioressources announced that it will be initiating a 50/50 joint venture with Shanghai KaiChuang Deep Sea Fisheries Co. (SKFC) to be able to manufacture and commercialize Neptune’s krill products in Asia. Together the joint venture will be called Neptune-SKFC Biotechnology.

According to the agreement, SKFC will supply all the raw material and Neptune will provide a license to Neptune-SKFC Biotechnology allowing it rights to use its Production Technology IP for the Asian Market in return of a significant upfront payment as well as for royalty payments.

In the release, SKFC CEO Xie Feng states, "This major milestone was part of SKFC's development plan in order to become the world's largest krill fishing company. This partnership should generate production and sales of up to 500MT of krill oil over the next five years."

The Asian market now represents more than 30% of all the Omega 3 market worldwide, China being the largest player in Asia.

To view the full news release, please click here