Regulatory News | | Investment in AI Business Blue Lion Labs Ltd
Summary
OTAQ, the marine technology products and solutions group for the global aquaculture and offshore oil and gas industries, is pleased to announce a $300,000 equity investment (the "Investment") in Blue Lion Labs Ltd ("Blue Lion"), a Canadian data management and software company developing solutions to multiple water-quality challenges, including real time monitoring of harmful organisms in water to deliver more sustainable food sources. In addition, the companies have signed cooperation and licensing agreements which will ultimately allow OTAQ to incorporate Blue Lions specialty in artificial intelligence technology ("AI") to analyse plankton monitoring data at fish farms. Blue Lion was established in 2018 by Dr. Jason Deglint and Dr. Katie Thomas, two PhD alumni from the University of Waterloo, Ontario, Canada, with expertise in machine learning and AI, and aquatic biology, respectively. OTAQ remains focused on creating a portfolio of products to improve management, efficiency and output as it builds on established relationships within the global aquaculture sector. The certification also demonstrates its ability to consistently deliver products and services to market whilst meeting statutory and regulatory requirements by applying an effective quality management system.