Oberon Receives Aquacopia Investment - Fish Meal Replacement

Aquacopia made an investment in Oberon FMR, Inc., a firm that produces a high-quality, ultra-sustainable protein meal that is a partial or total replacement for fish meal in aquaculture and animal feeds. (Aquacopia continues to support the sustainable use of fish meal in aquaculture.) The press release follows.

Oberon FMR, Inc. Receives $900,000 Venture Funding for Fish Meal Replacement

Idaho Springs, CO, September 1, 2007 — Oberon FMR, Inc. — an aquafeed ingredient company leading the development of cost-effective, sustainable fish meal replacement technology—today announced it has closed a Series A $900,000 private placement of preferred stock. Aquacopia, a Venture Capital (VC) firm specializing in aquaculture, and High Country Venture, a Colorado-focused VC fund, invested in the round.

"We are proud to have earned the confidence of two well respected VC funds and believe their value to the company will transcend funding and help us realize significant growth,” said Randy Swenson, Oberon FMR, Inc. chief executive officer. "These partners will serve us well in this critical early stage of our development,” Swenson added.

David Tze, Aquacopia’s managing director, noted “Oberon now has the foundation to aggressively implement its strategic plan on a global basis and begin meeting the compelling need to substitute for fish meal."

Oberon‘s core business is manufacturing a high-protein, sustainable replacement for fishmeal, the key ingredient of fish feeds and many animal feeds. Worldwide annual production of fish meal ranges between 6 and 7 million tons. Focusing primarily on aquafeed, the company intends to begin second-stage independent feeding trials during the first quarter of 2008. Following successful trials, the company plans to build its first manufacturing facility in the second half of 2008. Full-scale production and sales are expected in the first half of 2009.

About Oberon FMR, Inc. - Founded in 2003, Oberon FMR, Inc. is leading the development of fish meal replacement technology in the aquafeed industry. Oberon has developed an environmentally friendly protein source that has demonstrated performance comparable to fish meal at equivalent or reduced price. Oberon has tested versions of its product on fish species important to aquaculture. Trials indicate that these fish grow as well or better on feeds augmented with Oberon’s protein meal versus those grown on conventional diets that include fish meal protein. The company is currently refining its product in preparation for independent feeding trials with a wide range of fish and shrimp species.

About Aquacopia

About High Country Venture - High Country Venture manages Colorado Fund I, a venture capital fund that invests in seed and early stage businesses in Colorado. The fund focuses on the life sciences, information technology, retail and consumer goods sectors. High Country Venture is located in Boulder, Colorado.