SOURCE: Neptune Industries, Inc.

May 13, 2008 08:04 ET

Neptune Industries Expands Management Team

Daniel Hickey Named VP Finance and Planning

BOCA RATON, FL--(Marketwire - May 13, 2008) - Neptune Industries, Inc. (OTCBB: NPDI), headquartered here, today announced that Mr. Daniel Hickey has accepted the position of Vice President Finance and Planning effective May 11, 2008.

Mr. Hickey has over twenty years of experience on Wall Street in financial and portfolio management capacities. He is currently the principle of Stepping Stones Management, LLC, a registered investment adviser, and Stepping Stones Partners, LP, a private investment partnership specializing in emerging growth companies. Prior to launching Stepping Stones in 2004, Mr. Hickey was the Senior Managing Director of Thomas Group Capital, and a portfolio manager for Thomas Asset Management. He was also a Vice President - Investments at A.G. Edwards, and held a similar post at Merrill Lynch. Mr. Hickey has a BA degree from the College of the Holy Cross, and an MBA in Financial Management from Pace University.

The company's President, Mr. Ernest Papadoyianis, stated, "Mr. Hickey's addition to our team is an extremely positive move in the Company's management growth. Mr. Hickey and Stepping Stones Partners have been shareholders in Neptune since 2001. Throughout that period, he has acquired a tremendous amount of background and knowledge of our industry, operations and technology applications. His ability to convey this information to the investment community, as well as analyze financial opportunities will be a significant help as we expand the company. During the past year, we have continued diversifying our management team by filling upper management positions in our farming and product development divisions."

Mr. Hickey stated, "I am excited to join Neptune's management team whose vision has developed important disruptive technologies bringing environmentally friendly solutions to the global food shortage. With the clean-tech investing sector experiencing rapid growth, I believe Neptune is uniquely positioned to quickly bring these technologies to market. It will be a pleasure to work with the fine group of experienced professionals the founders have assembled."

About Neptune Industries

Neptune Industries is a technology company which from inception has been committed to achieving sustainable, eco-friendly aquaculture by innovating and pioneering a "total and comprehensive integrated systems solution" approach to the mission critical challenges facing the Aquaculture Industry today. Dwindling supplies of wild caught stocks used for fishmeal, and the continued environmental damage, escapism, and disease caused by self-polluting net pen systems, have severely restricted industry growth on a global basis.

Our mission is to utilize our expanding production operations base of all-natural, sustainable farm raised seafood products, as the working platform for the development of innovative, next-generation technologies to dissolve current industry bottlenecks. Further, our commitment is one of systems integration that targets "zero waste." Fish, organic produce, and waste-to-energy systems synergize to form a production model with multi-revenue streams.

Thus far, the Company has applied for patents and has made significant progress in the development of three technology platforms, one of which its calls "Ento-Protein," the second of which it calls "Aqua-Sphere," and the third of which is known as "Aquaponics." Taken together as components of a whole -- this total integrated system solution approach addresses what the company believes to be THE three critical problems stymieing the growth of the Aquaculture industry which will invariably cause it to fall increasingly short of growing world wide demand.

Aqua-Sphere™ is a state-of-the-art scalable, modular, floating closed containment system that is capable of concentrating and removing solid waste, eliminating predation and escapement, utilizing alternative energy for remote applications, and isolating crop from the environment.

Ento-Protein™ is a truly revolutionary development pioneered by Neptune to be a high quality, sustainable protein derived from insects which is intended to be a replacement for the rapidly depleting fishmeal made from wild caught feedstock species, and is currently a $7 billion market.

Aquaponics is the existing practice of integrating fish and plant production through soil-less culture (hydroponics) using the waste effluent as fertilizer. Neptune has advanced the methodology through the use of the Aqua-Sphere™. The hydroponic system provides a revenue stream off of the waste component of the fish production through very high quality organic herbs and vegetables. In addition, as another part of the water treatment and Aquaponics system a derivative product of algae is grown, which is 30x more productive than corn on a per acre basis, for the production of bio-diesel.

Finally to validate and test Neptune's solutions and technologies, the Company operates a sustainable fish farming facility in Florida City, Florida called Blue Heron Aqua Farms, Inc. Blue Heron Aqua Farms currently is a leading producer of hybrid striped bass, which it markets nationally and internationally as Everglades Striped Bass™. For further information, please visit the Company's website at: www.neptuneindustries.net

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

  • Company Contact:
    Sal Cherch
    COO
    Tel: (561) 638-5974
    Email: salcherch@neptuneindustries.net

    Investor Relations Contact:
    Ira Weingarten
    Equity Communications
    Tel: (805) 897-1880
    Fax: (805) 897-1883
    Email: ira@equitycommunication.com

    Michael Steinberg
    Chelsea Holdings, Inc.
    1200 N. Federal Hwy., Suite 200
    Boca Raton, FL 33432
    Tel: 561-210-8544
    Fax: 561-210-8545