Sia iFish Latvia
Offering: As demand for fisheries products is expanding exponentially with growing population, overfished natural supplies and changing food habits, Intelligent Fish Inc. seeks equity commitments to develop a diversified portfolio of aquaculture and hydroponic farms across the globe. Our strategy is to expand and upgrade our existing farms, develop new farms, and acquire or take an equity interest in other high potential farms. Combining our technical expertise and intellectual properties with close ties to the fish marketing industry supports vertically integrated systems that ensure quality products and sustainable production practices. IFish already has 3 projects “ready to go” (one each in New York, Hawaii and Mexico). An additional 8 projects will be added to the portfolio over a 5-year period with complete build-out in 8 to 10 years.
Introduction: Peter F. Drucker, a world recognized business leader and economic forecaster, predicted that aquaculture – the farming of aquatic organisms – will be one of three major economic opportunities in this millennium (2001-2099). Everyone everywhere is either eating more fish or thinking they should! In 2012, aquaculture production surpassed beef as a source of protein. The market increases have been astounding – tilapia, essentially unknown in the USA in the early 1970s, is the second most important fishery import in 2012 (over 500 million lbs. worth almost a billion dollars). More shrimp and salmon come from farms than are caught in the wild. And this growth in aquaculture will continue because most fish stocks in the wild are over-fished.
Focus on Sustainability: SIA Fish is in the food production business for the long-term. The production practices are underlain by a focus on the sustainability of both the environment and our communities:
- Aquaponics recycles nutrients, particularly nitrate and phosphates, that are typically lost to the environment by aquaculture systems. This minimizes aquaculture’s contribution to eutrophication.
- Aquaponics allows organic certification of the plants (typically vegetables and leafy greens)
- IFish and its affiliates are committed to replacing as much fish meal in our fish diets as practical with sustainably produced plant materials.
- Innovative designs incorporate tanks into building structures to reduce costs.
- Use of gravity flow and alternative energy sources, whenever possible.
- Careful species selection to prevent introduction of new exotic species into the environment.
- Bio-secure procedures to ensure both product quality and the health of our animals.
- Support for local farmers by providing them access (via a low-cost franchise) to technical services, certifications, economies of scale, and markets from which they are typically excluded.
SIA iFish Latvia has been incorporated to develop sustainable aquaculture farm in Latvia. The Company will initially focused on aquaponics (combining aquaculture and hydroponics to efficiently produce fish and vegetables. This focus has been expanded substantially to capitalise on other opportunities and to minimize fluctuation in the income stream by product diversification. SIA Fish Latvia has one “shovel-ready” projects “ready to go” as soon as funding is obtained, with the output being ready to be deployed and sold to a supermarket chain in Belgium.
The location of the factory which has already been secured is in Kandova the business rates have been covered for twenty years.
The European Union funding of 14m € in two tranches. We will receive €7m then a following €7m in February. The delivery of funds will be a total of 6- 8 weeks at a maximum and will be confirmed with the Legal firm. The Funding has been confirmed with the European Union Chairman in Latvia and verified by the lawyers.
Investment – A Longbow investor has now completed on this requirement.