SOURCE: Neptune Industries, Inc.

November 29, 2007 14:37 ET

Neptune Industries Addresses the National Organic Standard Board on Organic Seafood Certification Issues

BOCA RATON, FL--(Marketwire - November 29, 2007) - Neptune Industries, Inc. (OTCBB: NPDI) addressed the National Organic Standard Board [NOSB] during a public comment session on Wednesday, November 28th in Washington, D.C. The NOSB held the Organic Aquaculture Symposium to hear and review public comment on its current recommendations to the USDA for organic seafood certification standards. The two issues of focus were the NOSB's current recommendations excluding carnivorous fish raised in open net pen systems, and a proposed Sunset provision, which would allow "organic" aquaculture diets to contain 12% fishmeal and 12% fish oil over a seven year phase out period. Open net pens allow solid waste and uneaten feed into the environment, are susceptible to predation and escapement, and according to certain research, can be a vector for the transfer of sea lice and other pathogens to wild fish. Fishmeal is a protein source derived from wild caught baitfish species, and therefore would not qualify as an organic feed ingredient.

The NOSB's recommendations for excluding open net pen systems, and fishmeal as a dietary ingredient, were based upon the consensus that neither provides a sustainable, eco-friendly, and controllable solution to organic seafood production.

Mr. Ernest D. Papadoyianis, Neptune's President, addressed the committee on both of these issues. In his presentation to the Board, Mr. Papadoyianis pointed out that Neptune, a next generation aquaculture technology company, is rapidly advancing the development of two patent-pending technologies, Ento-Protein™ and Aqua-Sphere™ that directly address these issues. Ento-Protein™ will provide a sustainable, all-natural, high protein ingredient for fish and livestock diets. Mr. Papadoyianis explained how Ento-Protein™ production can be tailored in formulation to different fish and livestock, and can be manufactured in high production regions of the world to greatly reduce the current freight costs of shipping fishmeal around the world. Ento-Protein™ is the result of a cooperative research relationship between Neptune and Mississippi State University, which includes the Departments of Entomology, Wildlife and Fisheries, and Food Science and Technology.

Mr. Papadoyianis further presented Neptune's Aqua-Sphere™ closed containment technology as an economically viable and environmentally sustainable alternative to open net pen systems. AquaSphere™, the only articulating, solid walled containment system, is the result of more than ten years of research and development by Neptune. Mr. Papadoyianis explained how Aqua-Sphere™ resolves all of the major issues of concern expressed the NOSB and environmentalists around the world. Aqua-Sphere™ controls predation, escapism, the spread of disease, and virtually eliminates pollution by incorporating a waste collection system. Furthermore, all waste collected from the system is used to create hydroponic crops and methane gas to power on-site equipment.

Mr. Papadoyianis stated, "I highly commend the efforts of the NOSB in the organization and structure of this week's meeting. There was a wealth of information and opinion presented on both sides of each issue. It is clear that there is a staunch division between the industry and the environmental organizations as to how organic seafood should be produced and certified, as well as how the public views may vary. As both aquaculture producers and innovators of eco-friendly, sustainable technologies, we are highly cognizant of both viewpoints. Our goal in presenting our technologies to the NOSB, as well as the attendees, was to inform them that viable solutions to these issues will be commercially available, in all likelihood, before the final organic certification standards are approved by the USDA. The technologies provide both economic and environmental sustainability that should bridge both sides together."

About Neptune Industries:

Based in Boca Raton, Florida, Neptune Industries, Inc. has developed a scalable, modular aquaculture technology called Aqua-Sphere™ and Aqua-Cell™ that successfully address the environmental concerns of most aquaculture operations by controlling and recycling all waste products, while insuring the production of the highest quality fish at an affordable price. The company currently operates the Blue Heron Aqua Farms in Florida City, FL and is a leading producer of hybrid striped bass, which it markets internationally as Everglades Striped Bass™. The company's current production at its Blue Heron farm, and future production with Aqua-Sphere™ System technology are intended to target the organic market as soon as organic certification of farm-raised seafood becomes available. The Company is also in development of an advanced dietary nutritional component called Ento-Protein™. Ento-Protein™ is a high quality sustainable protein derived from insects, and is intended to be a replacement for the scarce fishmeal now used in fish and animal diets. For further information, please visit the Company's website at:

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact Information

  • Contact:
    Investor Relations Contact:
    Michael Steinberg
    Chelsea Holdings, Inc.
    1200 S. Federal Hwy., Suite 200
    Boca Raton, FL 33431

    Gary Geraci
    Equity Performance Group