Nocera, Inc. (NASDAQ: NCRA)

Nocera, Inc. designs, develops, and produces large-scale recirculating aquaculture systems (RASs) for fish farms, along with providing consulting, technology transfer, and aquaculture project management services. The company operates in the aquaculture industry, focusing on sustainable and efficient fish farming solutions. Nocera's operations are based in New Taipei City, Taiwan, with a mission to reduce water pollution and decrease disease problems in fisheries, aiming to become a global leader in land-based aquaculture.

Nocera generates revenue through the sale and installation of RASs, as well as through consulting services and solutions for aquaculture projects. The company's primary products include large-scale RASs, which are designed to filter and recirculate water within fish tanks, significantly reducing the amount of water and space required for intensive fish production. These systems cater to fish farms looking to operate more efficiently and sustainably. Additionally, Nocera offers consulting services to help clients operate more strategically by diversifying the species of fish raised to meet market demands, enhancing the management of fish farms, and reducing water pollution from inland fish farms.

• Recirculating Aquaculture Systems (RASs): Nocera's RASs are designed to filter and recirculate water within fish tanks, reducing the amount of water and space required for intensive fish production. These systems cater to fish farms looking to operate more efficiently and sustainably. The company's RASs include the fish tank, circulation, and filtration systems, and can raise both freshwater and saltwater fish, as well as a variety of crustaceans. The systems are designed to provide a controlled and traceable environment, require minimal site preparation, and benefit local economies by providing fresher and healthier fish. Nocera's RASs are marketed to individual investors, government-supported or funded companies, and other types of international customers in markets such as Japan, Taiwan, Thailand, Jordan, South Africa, and the United States.

• Consulting Services: Nocera provides consulting services and solutions for aquaculture projects, offering design innovation and RAS expertise to increase revenue while decreasing operating expenses. These services help clients operate more efficiently and increase production. The company also shows clients how to operate more strategically by diversifying the species of fish raised to meet market demands. Additionally, Nocera's equipment enhances the management of fish farms by reducing the incidence of disease among fish populations and reducing water pollution from inland fish farms. These services are currently provided in Taiwan and are intended to expand into other international markets and the United States to increase revenues and operate more efficiently.

Nocera operates in a highly competitive market for aquaculture projects and services. The company faces competition from large entities with significantly greater resources, as well as smaller suppliers providing alternative aquaculture solutions regionally. However, Nocera believes that due to the size of its projects, it should have a better price point. The company's competitive advantages include its proven advantage in producing more fish in a more cost-effective and environmentally friendly manner, offering greater location flexibility, and the potential for a "solar-fish sharing mode." Nocera's RASs are designed to address the growing demand for high-quality local fish without putting more pressure on natural ecosystems.

Nocera targets customers in various markets, including Japan, Taiwan, Thailand, Jordan, South Africa, and the United States. The company's customer base includes individual investors, government-supported or funded companies, and other types of international customers. During the year ended December 31, 2024, and 2023, Nocera's net sales were approximately $17.01 million and $23.9 million, respectively. The company's strategic focus is on countries with a growing population and growing demand for food, aiming to meet these demands through the promotion and sale of its RASs and consulting services.