Aova Moves Big Fish™ Feed Additive Invented at UW-Madison into Asian Aquaculture Markets (Aug 25, 2009)
FOR IMMEDIATE RELEASE
August 25, 2009
Contact:
Janet Kelly, WARF
jkelly@warf.org
608.890.1491
Bryan Renk, Aova
608.310.9595
bryan@aovatech.com
Madison, Wi . . . Aova Technologies, Inc., a start-up company that produces animal feed additives based on University of Wisconsin-Madison technology and licensed through the Wisconsin Alumni Research Foundation (WARF), has completed two key goals in its efforts to capture part of the $70 billion global aquaculture market.
With a focus on promoting its Big Fish™ product line, the company is expanding into Asia's huge aquaculture market, which accounts for 92% of world production, via a new sales distribution agreement covering Japan. In addition, Thailand's Ministry of Agriculture recently completed successful trials of Big Fish formulated for three of the world's most popular species of fish stock for consumption.
"Aquaculture, the farming and harvesting of fish, seafood and plants in controlled water environments, is the fastest growing form of food production in the world," states Bryan Renk, president of Aova Technologies, Inc. "Today it is the source for nearly half of the fish consumed globally. In this growing and increasingly competitive industry, commercial producers are very interested in improving fish health and size while decreasing feed costs and time to market."
Big Fish, as well as Aova's other and similarly named "Big" product lines designed as feed additives for birds, calves and pigs, is a powdered nutritional supplement made from chicken egg antibodies. When added to livestock feed, the supplement improves the intestinal health of animals raised in controlled environments by calming the intestine's immune defenses. The additive diverts a larger percentage of an animal's metabolic resources to increase and accelerate its growth, while also reducing overall caloric demands.
"For commercial fish producers, the addition of Big Fish to their feedstock will increase daily weight gain and improve feed efficacy," states Renk. These are the key benefits of Aova's platform technology, which was developed by prolific WARF inventor and Aova Technologies founder Mark Cook of the UW-Madison's College of Agricultural and Life Sciences. Cook's technology utilizes laying hens to produce egg antibodies that are processed into a powdered food supplement. Aova's food additive is an affordable, safe, non-drug formulation that is not absorbed by the digestive system and leaves no residual compounds in the animal.
Renk points to Aova's recently completed distribution agreement with eAnimal for Japan as its initial method of entry into Asian markets. eAnimal will market Big Fish formulations in Japan developed for tilipia, catfish and other fish species, as well as the Big Pig™ and Big Bird™ product lines.
Not far behind its initiatives in Japan, Renk plans to enter the market of Thailand, whose department of agriculture recently affirmed the benefits of Big Fish through separate product trials conducted for grouper, tilapia and catfish. Earlier this year, Aova Technologies closed on a $1.2 million dollar financing round and established Aova Thai LTD to meet the needs of the country's $1.5 billion dollar aquaculture industry. Renk now is recruiting for a full-time sales director to be based in Thailand.
Recently WARF demonstrated its confidence in its licensee's product lines, business plan and market opportunities by joining with Merrick's, Inc., a leading producer of animal feed for worldwide markets, as an equity co-investor in Aova. Merrick's, founded in 1959 and based in Middleton, Wis., manufactures Aova's product lines at its facility located in Union Center, Wis.
"We feel that momentum is mounting at Aova and its business is on the verge of taking off," states Craig Heim, WARF's licensing manager for start-ups. "Along with our investment partner, Merrick's, Inc., we see great things around the corner for this young company. We are pleased to support a start-up promising much value and founded by one of WARF's and the UW-Madison's most successful inventors, animal scientist Mark Cook."
Renk states, "I'm delighted to have WARF as a shareholder and supporter of our company. WARF continues to be a strong catalyst for high-tech growth in Wisconsin." He notes that the funding from WARF will allow Aova to double its production capabilities and expand its reach into international markets.
About Aova Technologies
Aova Technologies, Inc. is a biotechnology company organized in 2001 for the purpose of commercializing the company's proprietary technologies and products to offer the producer and feed nutritionist a new strategy in animal nutrition. Aova's lead products, BIG FISH, BIG PIG, PIG BIRD, and BIG CALF, are naturally produced dietary additives that result in greater nutritional performance for growing animals. The company has developed scalable production and manufacturing processes which allowed for U.S. market entry in 2005. Aova Tech is a privately held company with offices in Madison, Wisconsin. For more information please visit the company's website at www.aovatech.com.
About the Wisconsin Alumni Research Foundation (WARF)
Wisconsin Alumni Research Foundation (WARF), founded in 1925, serves the University of Wisconsin-Madison scientific community by patenting the discoveries of UW-Madison researchers and licensing these technologies to leading companies in Wisconsin, the United States and worldwide.
WARF currently is working with more than 50 active start-ups whose business markets include therapeutics, research tools, biotechnology, medical devices, food and agriculture, engineering, computer, stem cell and clean technologies. WARF currently holds equity in more than 30 of these companies.
