Insect-based protein products closer to commercial production

Neptune Industries, Inc. subsidiary, Aqua Biologics, Inc.,  has begun its Phase 2 research trials with Mississippi State University on the development of its patent pending Ento-Protein,  a high quality sustainable protein derived from insects that is intended to be a replacement forfishmeal. This phase of research will include feeding trials on hybrid striped bass with diets substituting 100% of the dietary fishmeal component with Ento-Protein meal.

Concurrently, the Company is structuring the final Phase 3 research for extended growth trials, which are anticipated to begin in October. The successful completion of Phase 3 trials would pave the way for the implementation of commercial production.

Mr. Sal Cherch, Chief Operating Officer, stated, "We are extremely pleased with the results of our Phase 1 research efforts, and strongly believe that Ento-Protein will successfully provide a sustainable, all-natural fishmeal substitute. A staggering 25% of all world fish production goes into fishmeal and fish oil. The world supply of fishmeal is so isolated geographically, that every metric tonne of fishmeal travels an average of 5000 km before it reaches the end user. This has enormous economic implications in supplying the global markets. Our ability to locate Ento-Protein production sites worldwide would provide a viable solution to this serious problem. The key to the rapid and successful expansion of global seafood production is through the sustainable commercial production of a high quality dietary protein. Ento-Protein is the logical choice to eliminate the industry's dependence upon wild fishmeal as a dietary protein."