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Australia-headquartered, Marine Culture Technology Pty Ltd (MCT), today (21 March) launched its advanced technology which allows it to breed a range of disease and heavy-metal free salt-water fish, including the highly sought after live reef grouper, in a self-contained environment, with no discharge of waste into the environment and is 100% water recyclable.
Speaking at the opening ceremony in Hong Kong, Managing Director, Mr Lloyd Moskalik said, "We've been developing this technology for 15 years and are now able to breed any fish species in captivity." Mr Moskalik explained that the company had been looking for a suitable market with a strong potential client base as well as a strong level of intellectual property protection, given its substantial investment in the technology.
"Our technology will provide the Market with a high quality product that is disease free, toxin free and no growth hormones, that is to be fully quality certified by the Hong Kong government authorities", Mr Moskalik further explained. "The recent issues with diseases and heavy metals, such as Mercury, detected in farmed and wild caught grouper are no longer a problem with our technology."
"It's always a risk when you take your technology off-shore, but in Hong Kong we found the combination of a sizable live reef fish market and strong IP protection," said Mr Moskalik.
He added that Hong Kong offered political stability, a can-do attitude, an established market and world class infrastructure, an attractive tax regime and the largest market in the world for the live grouper fish. "It is also on the doorstep of the Mainland market and, in particular, the affluent Pearl River Delta region," said Moskalik.
MCT has developed a sustainable and environmentally responsible way to breed fish in captivity, using its 'Marine Recirculating Aquaculture Systems (MRAS)'. The technology can be used to counter the depletion of natural stocks caused by the destruction of natural habitats and illegal fishing. Mr Moskalik added that he felt Hong Kong could become Asia's high tech aquaculture centre and a net exporter of high-value live reef fish.
The company has opened a demonstration plant growing out 2 tonnes of live reef fish on the 14th floor of a building in Chai Wan. They will also operate a high technology grow-out facility in Yuen Long later this year, from where it aims to supply the local and Mainland markets.
"The great thing about our technology is that it allows Hong Kong, with limited land availability, to build upwards into multi level facilities rather than outward expansion requiring more land" said Mr Moskalik. The Hong Kong office will also oversee MCT's expansion plans across the region.
Speaking at the launch, Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse said, "As Hong Kong is moving into a knowledge-based economy, it is important for us to attract innovative, high tech companies like MCT. Invest Hong Kong here, and in Sydney, has been working with MCT since 2004 and we are delighted to finally welcome the company. We feel Hong Kong will make an ideal incubator city for them as they expand their business across the region."
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish or expand a business presence here. For more information: www.investhk.gov.hk
Ends/Wednesday, March 21, 2007
Issued at HKT 13:45
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