January 4, 2022

 

Qian Hu in loan agreement with AquaEasy

 

 

Integrated fish service provider Qian Hu Corporation Limited announced that it has entered into a US$738,716 unsecured convertible loan agreement with AquaEasy Pte Ltd, a unit of the Bosch Group and a global supplier of technology and services.

 

AquaEasy, an artificial intelligence (AI) and internet of things (IoT)-based solution, combines sensors, software and services based on data analysis capabilities to help shrimp farmers increase productivity, profitability and implement sustainable aquaculture practices while reducing risks and costs.

 

Earlier this year, AquaEasy secured funding from EDB New Ventures, the corporate venture building arm of the Singapore Economic Development Board (EDB). Since 2020, AquaEasy has been collaborating with Qian Hu in achieving an efficient and sustaining shrimp farming system at its farm in Singapore.

 

Through cloud connection and AI, the collected data is analysed in real-time to provide insights and recommendations on water quality management, feeding optimisation and harvest prediction, while Qian Hu uses its proprietary patented HYDROPURE filtration system and nanobubble technology to enhance water quality.

 

The AquaEasy AI solution has also been successfully deployed at many shrimp farms in Indonesia and Vietnam. Yap Kok Cheng, Qian Hu's chief executive officer, said: "We are excited to be partnering with AquaEasy for the long haul. As with AquaEasy, Qian Hu too believes in innovative solutions that would transform our enterprise and industry. Through this investment, we are putting our money where our mouth is."

 

Ivan Tay, AquaEasy's head of AI, said: "AquaEasy's mission is to lead the way by revolutionising the aquaculture industry in Asia. We deliver the best AI technology and digitalisation to farmers and stakeholders enabling traceability and sustainability.

 

"Our customers in Singapore, Indonesia and Vietnam are benefiting from increased productivity and profitability with our AI solutions. Qian Hu is a partner sharing AquaEasy's values and a leader in its domain with a complementary portfolio. We are looking forward to delivering the best technology solutions to farmers to boost their farming and to feed the planet sustainably."

 

Qian Hu and AquaEasy also intend to look for opportunities to use AquaEasy's AI solutions and services within the aquaculture industry and collaborate in the development of AI solutions in new market areas, particularly in the following areas:

 

    - Research and development;

 

    - Develop and expand AquaEasy's AI solutions and product offerings in both Qian Hu's existing and new market areas encompassing other aquatic species such as fish including the ornamental category, as well as recirculated aquaculture systems in aquaponics;

 

    - Commercial go-to-market and deployment;

 

    - Integrate AquaEasy's AI solutions into Qian Hu's aquaculture systems, as well as market AquaEasy's smart aquaculture technology to Qian Hu's customers globally.

 

Both Qian Hu and AquaEasy will also develop a platform, using AquaEasy's cloud-based IoT capabilities, to digitalise the aquaculture supply chain so that it will be more efficient and cost optimised. The platform provides real-time and transparency, thereby enabling traceability and sustainability of local produce.

 

"This partnership will enhance the capability of growing Asia's aquaculture industry with cutting edge AI and IoT-technologies, transforming a traditional aquaculture industry into one that is smart, predictable and sustainable," Yap added.


- Far Eastern Agriculture