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OTAQ PLC on Tuesday said it has signed a deal with a ‘leading’ salmon & sea trout producer in Chile, sending its shares upwards.
OTAQ shares surged 13% to 15.78 pence each in London on Tuesday morning.
The Lancaster-based producer of marine technology for offshore oil and gas industries will supply water quality monitoring technology to Salmones Antartica SA, a company based on the southern Chilean island of Chiloe.
OTAQ's technology ‘monitors a site's oxygen, temperature and salinity levels to provide aquaculture farmers with immediate information about the quality of their water environment.’
The companies did not disclose financial details of the agreement.
‘After this initial deployment in Chile, customer interest in Scotland and Australia is now being explored,’ said OTAQ Chief Executive Officer Phil Newby.
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