TimberFish’s principal product is an alternative supply to current wild caught and farmed seafood. We project a 30% to 40% lower delivered cost to retailers compared to existing supply options based on growing our own feed from inexpensive underutilized biomass, that our solid waste is a valuable biofuel and that we do not require costly wastewater treatment systems to meet emission requirements. Our technology can be produced locally which results in significant savings in distribution costs. In addition our seafood has lower levels of contaminants and better taste, color and texture than current supply options.
TimberFish has three revenue sources, seafood sales (87% of expected revenue), sale of biofuel (11% of expected revenue) and fees for cleaning wastewater from processors (2% of revenue).
Our technology allows retailers to meet their customers demand for local, environmentally conscious, high quality seafood at a reasonable price. Initially sales will target of higher value seafood sold at fresh seafood counters, about 5% US market ($500 million). Longer-term, quality along with cost advantages will be leveraged to expand into other segments such as frozen seafood which is 40% of the market. Finally, a branding strategy to promote loyalty and differentiate our products would be considered.
TFT benefits from having three major market drivers:
The essential inputs to the TFT system are cellulose and nutrients. These may come from food production byproducts, industrial and municipal wastes, or harvested plant material and fertilizer.
TimberFish technology provides a low cost, comprehensive solution for the reuse and clean-up of such materials so they do not become environmental pollutants.
The output from TFT facilities are contaminant-free, natural tasting seafood, clean water, an by-product soil enhancers and energy
The first market in which we plan to demonstrate TFT is the food byproduct segment. This segment has the benefit of clean, influent streams and large commercial market potential. Significant raw material supplies exists in virtually every US state. In the US, the quantity of nutrients available from food processing facilities is more than sufficient to supply the total demand for seafood many times over. This segment includes: wineries, breweries and distilleries, and other fermentation operations, dairy milk and cheese operations, and other food processors.
Our proposed site for the demonstration in Westfield New York is well located near abundant food production byproduct resources and large local markets for seafood.
Longer term, TimberFish has an opportunity to develop income from cleaning up waste streams from animal and municipal waste facilities. These could include developing systems that are cost effective without producing seafood, as well as utilizing these nutrient streams to produce products not for human consumption. These opportunities could include pet foods, other animal feeds and organisms that can be used as biofuel precursors (e.g. high oil content worms).