Barramundi Group announces RAS contract award to leading technology & service provider for its Brunei broodstock & hatchery facility

14 Jun 2024 10:20 CEST

Singapore, 14th June 2024 - Barramundi Group Ltd (the “Company”) (EURONEXT:
BARRA) announced today that its Brunei subsidiary, Barramundi Group (B) Sdn Bhd
(“BGBN”) has awarded Malta’s AquaBioTech Group (“ABTG”) a turnkey contract for
the design, supply, installation, and commissioning of a state-of-the-art RAS
(“Recirculating Aquaculture System”) broodstock, hatchery and live feed facility
for barramundi (sp. Lates calcarifer).

The new RAS broodstock and hatchery facility is the second key milestone in the
Company’s strategic development plan for its operations in Brunei Darussalam.
This new facility complements BGBN’s earlier investment of its
already-operational RAS nursery.

Upon completion and commissioning of the new facility in the next 18 months, the
Brunei operations will be fully self-sufficient; with broodstock, live-feed,
larviculture, fry and fingerling production for its current stocking at sea.

With peak production capability of the new facility at over 6 million juveniles
per year, the facility is future-proofed to cater for additional juvenile
requirements for a new 3,000 MT land based RAS grow-out facility (referred to
in previous announcements as BG2.0). BGBN is also presently in the intermediate
design phase of this facility, for its 17 hectare Mengsalut site, with
AquaBioTech Group.

“This contract is significant not just for AquaBioTech, but also for Brunei.
This project will be a significant catalyst for the development of barramundi
and other land-based aquaculture initiatives in Brunei, strengthening food
security and enabling the country to explore new export markets” says
AquaBioTech Group’s CEO, Mr Shane A. Hunter.

“Having this new RAS broodstock and hatchery facility integrated into our
existing and operational RAS nursery is a game changer. When commissioned, we
will be able to produce consistently, the highest-performance juveniles from our
own pathogen-resilient and genetically-superior broodstock, unhindered by
external constraints. For Brunei Darussalam, a second state-of-the-art RAS
facility in the country enhances its overall food and biosecurity posture, and
adds another cornerstone in its nascent but fast-growing aquaculture sector.
AquaBioTech has proven to be particularly suited to designing a tropical RAS
with their deep multuidisciplinary bench and track record; and we are very
pleased to be working with them beyond this RAS, but also our BG2.0 3,000MT
growout facility in Mengsalut.” says Mr James Kwan, CEO, Barramundi Group.


For further enquiries, please contact:

James Kwan
Chief Executive Officer
Barramundi Group
Email: investors@barramundi.com

Vanessa Tan
Chief Financial Officer
Barramundi Group
Email: investors@barramundi.com

Alex Chiam
General Manager
Barramundi Group (B) Sdn Bhd
Email: tat.chiam@barramundi.com

More information:
Access the news on Oslo Bors NewsWeb site

621512_ABTG~BGB02-PressRelease~-14 Jun-24_FINAL.pdf