Nocera, Inc. Announces Agreement to Produce 6,500 Tank Systems for Procare International Co., Limited
January 06, 2020 at 10:46 pm IST
Share
Nocera, Inc. announced that it has entered into a Project Contract with Procare International Co. Ltd. to produce 6,500 Recirculating Aquaculture System ("RAS") for a RAS fish farm development in Ru Hu, Guang Dong province. The production and installation of the 6,500 RAS tanks is expected to begin late in the first quarter of 2020, and extend over a 3 year time period. Based upon the current exchange rates, each tank has a contract value of approximately $18,000; with the estimated total contract value of approximately $117,000,000 over three years. Currently, the Company is awaiting the initial payment before the start manufacturing. It is currently expected the initial payment will be received in late first quarter of 2020, and with an expected production and delivery of 1,000 to 1,500 tanks during 2020.
Nocera, Inc. is a fully integrated sustainable seafood company. The Company provides land-based recirculation aquaculture systems for both fresh and saltwater fish and invests in fish farms by building high-tech recirculation aquaculture systems (RASs). The Companyâs main business operation consists of the design, development, and production of large-scale RASs fish tank systems, (aquaculture) for fish farms, along with consulting, technology transfer, and aquaculture project management services to new and existing aquaculture facilities and operators. It also procures and sell eel in Taiwan. The Company also sells food items, including its signature seafood porridge bowl, through its flagship bento box store located at the Ning Xia Night Market in the Datong District of Taipei City, Taiwan. It also offers e-commerce model on Douyin, the prominent Chinese short-form video application and sibling platform to TikTok in the United States.
NOCERA, INC. 
