Up and coming RAS company purchases land in Alabama for new site

According to a news release from the company, the purchase agreement was executed on 8 September 2022, and the acquisition is anticipated to close by 31 October 2022. The acquisition is expected to increase Nocera’s current revenues by up to $10 million, with potentially $7 million in gross profit. The company purchased the parcel of land for $865,000 and is in the process of obtaining up to 85 percent financing from local banking institutions.

The 229 acres of land is in the city limits of Montgomery, Alabama. It comes with a house, a manufactured home and a building site with sewer and power which the company will develop into an office and dormitory for Nocera's employees.

Jeff Cheng, Nocera's CEO, commented, "this land acquisition in Alabama would be our first entry into fish farming business in the United States. We anticipate that our technology and design in recirculating aquaculture systems will provide us with a substantial advantage.

“Being strategically located in the city of Montgomery, we will have access to a significant and skilled labour force along with a robust student population from the Montgomery area. With the price of fish hitting an all-time high, this land purchase will give us a considerable opportunity to become increasingly profitable. Our investment in Alabama is sustainable and green and we will be providing increased sustainable aquaculture in the United States and offering the American family the best choice in seafood."

Nocera has launched six fish farms using its patented recirculating tech to date and is working to expand its global footprint. In Taiwan, the company has seven different production sites approved, and is working with solar companies to integrate fish production with solar power generation.

The closing of the purchase agreement is contingent on the Company satisfying the terms and conditions of the purchase agreement, including, but not limited, obtaining the necessary financing.