SOURCE: Neptune Industries, Inc.

April 28, 2008 08:00 ET

Neptune Industries, Inc. Announces Appointment of Renowned Hydroponics Expert Gordon Creaser as Vice President

BOCA RATON, FL--(Marketwire - April 28, 2008) - Neptune Industries, Inc. (OTCBB: NPDI), today announced the appointment of Gordon Creaser, an internationally renowned expert in hydroponics research and practice, as Vice President of HydroPonic Development and Operations.

Through his articles in magazines including Aquaponics Journal, The Growing Edge, Practical Hydroponics and Greenhouse Manager, and through his consulting work in Micronesia, Australia, South America, Canada, the Caribbean, The Bahamas, as well as in the United States, Gordon Creaser has establishing himself as one of the world's foremost authorities on Hydroponics, and has designed numerous systems both large and small for clients on 5 different continents.

Hydroponics, a method of growing plants without soil, represent a very large future revenue opportunity for Neptune that arises from its patented Aqua-Sphere™ fish rearing system. Aqua-Sphere™ traps fish waste in a closed containment system, rather than allow these wastes back into the water, and then utilizes these wastes to create highly profitable revenue streams, such as hydroponics. Neptune is currently developing a significant 30,000 sf greenhouse for hydroponics on its Blue Heron farm in Florida City, Florida, and is also negotiating to develop additional locations in other states and jurisdictions.

Mr. Creaser said he has joined Neptune because, "I believe we have, through Neptune, a unique opportunity to transform the flawed and environmentally unsustainable practices of today's fish farming industry into a key source of hydroponically grown vegetables, lettuce and herbs, and I want to lend my years of experience to this magnificent work."

According to Mr. Ernest Papadoyianis, Neptune President and Chief Executive Officer, "Neptune recently completed seven months of hydroponic and aquaponic testing to determine the viability of growing a number of vegetables, lettuce, and herbs in combination with our fish farming operations. Fish waste is an ideal natural, organic fertilizer, and has proven to be very cost effective. We were very impressed with Mr. Creaser's credentials in producing successful hydroponic operations, and believe he will be an invaluable asset as we develop this arm of our business operations."

In addition to hydroponically grown vegetables, lettuce and herbs, Neptune's Aqua-Sphere™ system utilizes fish waste to create additional revenue streams through the growth of algae for biofuels and through the production of methane gas. These revenue streams will add significantly to the income of will next generation fish farmers that use Neptune's Aqua-Sphere™ system to grow fish in a way that does not pollute the surrounding waterways.

About Neptune Industries

Neptune Industries is a technology company that 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 crops 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 in floating socks, which is the 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 one of the leading producers 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