MBD 2015 Equity Capital Raising Update
MBD has raised $8.0 million in equity capital which provides it with sufficient funds to deploy its bioremediation technology at three large aquaculture operations seeking to comply with Government Regulations relating to water discharge.
MBD is also putting in place a long term lease of a 50Ha farm at Ayr in North Queensland and will finalise the preliminary development elements of its natural Astaxanthin project to the point where it is construction ready.
Capital raised to date will fund the following:
- Aquaculture Bioremediation Projects
- Working Capital
- Ongoing R&D Capital – 2015 – 2016
MBD requires a further $7.0 million of capital to fund the construction of Stage 1 (25 tonne per annum) of its natural Astaxanthin project for the production and sale of unprocessed biomass product (H. pluvialis) for the subsequent manufacture of natural astaxanthin.
A number of Due Diligence processes are ongoing to complete the capital raising.
For additional information on the capital raising or to register your interest please contact:
Domain Capital Pty Limited:
Rick Horne, Director
Phone: + 61 3 8614 1092
The Information Memorandum is provided for Sophisticated Investors as specified in the Corporations Act Part 6D.2, Section 708
Pacific Reef Project Update – large scale demonstration
MBD has established a demonstration of low cost bioremediation of nitrogen and phosphorous at Pacific Reef Fisheries, Ayr, Queensland.
The North Queensland prawn industry has not seen any expansion for the last 10 years. Environmental regulations require the level of nitrogen and phosphorous in the discharge water to have zero nett gain from the inlet water for each new prawn farm. i.e. no new discharge of nitrogen and phosphorous to the Great Barrier Reef waters. MBD's innovative process enables the prawn and fish industries to comply with this objective.
The use of algae to bioremediate nitrogen and phosphorous delivers a low cost remediation system that can be applied to existing and new aquaculture facilities.
Australia currently imports more than 70% of seafood. An expanded industry for the North Queensland Region has the potential to be a major producer of seafood and fish to the Australian and international markets. Declining ocean stock volumes has lead to a consistent increase in imported seafood over the last 20 years (currently greater than 50% of all shellfish and fish are grown in farms). More than 70% of the worlds farmed fish are grown in China.
The key outcome has been to prove a low cost bioremediation system at Pacific Reef as a basis for the major expansion and development of the North Queensland seafood and aquaculture industry.
MBD's large scale demonstration at the Pacific Reef site has been in place for the last 2 years. The project has demonstrated the process at scale and the system has received widespread support across all levels of government and the industry. Extensive water monitoring tests are being applied daily to the system to demonstrate the uptake of nitrogen and phosphorous to satisfy the Great Barrier Reef Marine Park Authority (GBRMPA) requirement of zero environmental impact. MBD will expand the process In parallel with Pacific Reef's Guthalungra site (260Ha) and are working with the wider aquatic industry to roll out the technology at key sites in North Queensland, Thailand and Vietnam.
Watch Water Bioremediation Video
A video overview of MBD's waste water bioremediation solution enabling a major prawn and fish farm to expand. November 2014.