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PARTNER SEARCH FORM

1. Company Profile 1.1 General Profile

Full Name of Company Latimeria Ltd. Registration # 514768456

Prior name of Company N/A

Type of Company HT R&D Research Institute University X Other

Stage Seed X R&D Initial Revenues Revenue Growth

Ownership Public X Private Governmental Other

Year Established 2012 No. Employees 3

No. R&D Personnel 2

1.2 Company Contact Info

Street Address 49/2 Menachem Begin City Gedera P.O. Box

Country Israel Zip Code 7052719

Telephone +972-54-4675097 Fax +972-8-8594780

Website E-mail [email protected]

1.3 Primary Contact Person

First Name Gilad Last Name Heinisch

Title Dr. Function Head Biologist

Phone Mobile Phone +972-52-8799548

Email [email protected]

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1.4 Organization Description General Business Description Latimeria aims to establish advanced fish breeding centers for the production of

fingerlings. Our goal is to lead the commoditization of fingerlings worldwide; starting in Israel

with the production of grey mullet (Mugil cephalus) fingerlings as our first product. By

implementing our unique Water-Ring system, along with our expert biological know-how, we aim

to procure high quality fingerlings year-round. The commoditization of fingerlings will assist

commercial fish farms to address the growing demand for fish by increasing their yearly

production yields; increasing global supply for human nutrition.

Technology Description (Main Products/Services)

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Latimeria has been operating a successful pilot facility since September 2011. The pilot is

located at Kibbutz Ein Shemer’s Ecological Greenhouse. The major focus of the pilot project was

to develop and calibrate our unique Water-Ring system, a minimum discharge – generic

recirculating aquaculture system specifically designed to target the biological needs of

broodstocks, a task that we successfully achieved. The pilot facility has been operating under

“true conditions”, that is, mimicking a commercial broodstock operation, but in a smaller scale.

Five Water-Ring systems are fully operational holding model broodstocks of grey mullet.

Nevertheless, to this date, we focused on one of the three elements of a breeding center – the

broodstocks. Work on the other two elements, food chain and hatchery, is currently in progress.

On average, 130,000 tons of grey mullets are consumed world-wide per year. Most of them

in Egypt. Fingerling supply is captured-based. Average yearly Israeli consumpsion is 2,000 tons

and. Each year, four to nine million grey mullet fingerlings are caught along the Israeli coast line

and its estuaries, and shipped to inland fish farms to be raised for 24-36 months. Due to this

availability and the lack of breeding knowhow, progress was not made to establish a commercial

breeding center, locally and worldwide. As such, grey mullet growers are under suppression and

suffer from the following bottle-neck supply problems:

• A profitable fish with limited capture-based fingerlings supply

• Non-sustainable, irregular and unpredicted supply

• One non-optimal stocking season

• Unfavorable mullet species

Targeted Customers 1. Fish farmers.

2. Governmental agencies and private companies who are seeking to operate fish breeding centers.

3. Governmental agencies and state divisions of marine fisheries that are in need for sustainable fingerlings supply for the porpuses of stocking / restocking, tag release-recapture studies and research.

1.5 Technology Sector & Subsector of Company (Select 1 sector and 1 subsector)

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Clean-Tech

Agrobiotech Energy Environment Materials

Water Technologies

Communications

Broadband Access Broadcast Enterprise Networking Home Networking

Mobile Applications NGN & Convergence Optical Networking Telecom Applications

VoIP & IP Telephony Wireless Applications Wireless Infrastructure

Internet

Content Delivery Content Management e-Commerce E-Learning Internet Applications Internet Infrastructure Online Advertising Online Entertainment Search Engines Social Networks

IT & Enterprise Software

Business Analytics Security Enterprise Applications Enterprise Infrastructure Miscellaneous Software Design and Development Tools

X Life Sciences

X Agrobiotech Bioinformatics Biologicals Diagnostics Healthcare IT Industrial Medical Devices Telemedicine Therapeutics

Miscellaneous Technologies

Defense Hardware Industrial Technologies Miscellaneous Nanotechnology

Semiconductors

Fabrication and Testing Manufacturing Equipment & EDA

Memory & Storage Miscellaneous Semiconductors

Network Processors Processors & RFID Security Semiconductors Video, Image & Audio

1.6 Company Settings (For Israeli Companies ONLY) X Would you like your company profile to appear in the public, online MATIMOP Company

Database? X Would you like to receive emails from MATIMOP on news & events?

2. The Project 2.1 Description of the Proposed Project

Small scale pilot marine fish breeding center based on the “Water-Ring” system 2.2 Technology Sector & Subsector of the Proposed Project

Clean-Tech

Agrobiotech Energy Environment Materials

Water Technologies

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Communications

Broadband Access Broadcast Enterprise Networking Home Networking

Mobile Applications NGN & Convergence Optical Networking Telecom Applications

VoIP & IP Telephony Wireless Applications Wireless Infrastructure

Internet

Content Delivery Content Management e-Commerce E-Learning Internet Applications Internet Infrastructure Online Advertising Online Entertainment Search Engines Social Networks

IT & Enterprise Software

Business Analytics Security Enterprise Applications Enterprise Infrastructure Miscellaneous Software Design and Development Tools

X Life Sciences

X Agrobiotech Bioinformatics Biologicals Diagnostics Healthcare IT Industrial Medical Devices Telemedicine Therapeutics

Miscellaneous Technologies

Defense Hardware Industrial Technologies Miscellaneous Nanotechnology

Semiconductors

Fabrication and Testing Manufacturing Equipment & EDA

Memory & Storage Miscellaneous Semiconductors

Network Processors Processors & RFID Security Semiconductors Video, Image & Audio

3. Potential Project Partner/Company 3.1 From which country/region are you seeking a partner?

North America, Europe, Asia-Pacific 3.2 Main characteristics and specific technological expertise of potential partner 1. Companies in the Aquaculture sector who are looking to expand and operate a fish breeding

center. 2. State divisions of marine fisheries who are interested in establishing an environmentaly friendly

fish breeding center. 3. Universities and research centers who are looking for a stand alone system for marine and fresh

water fish reproduction. The technological expertise and knowhow that we seek in the above partners are (not limited to):

1. Experienced aquaculture farm 2. Fish breeding center 3. Expertise in reproduction of cold-water species (Cod, Haddock, Halibut, etc.) 4. Stocking and stock assesments

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3.3 What is the specific R&D Contribution you are seeking? New species is a major contribution we are seeking. We are currently working on the reproduction of grey mullet, Mugil cephalus. The suitability of our system for the reproduction of other marine fish, including cold water species, is important to us.

3.4 Companies/Organizations you are already in contact with 1. National Center for Mariculture, Israel. 2. Fisheries Dept., Ministery of agriculture and rural development, Israel 3. Israeli fish farms

4. Statement of Agreement I hereby provide my consent to disclose this form to third parties in the process of identifying potential partners for the proposed project.

4.1 Signature of Company

Company Name Latimeria Ltd.

First Name Gilad Last Name Heinisch

Title Dr. Function Head Biologist

Signature

5. Site Settings X Approve you agree your partner search form to appear in the Matimop Site

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Assisting Nature to Provide for Human Needs

Introduction Document

This document contains Latimeria’s confidential information. This document may not be copied, disclosed or used for any purpose other than that for which it was distributed, in whole or in part, in any form, without the prior written consent of Eitan Sessler. This document contains forward-looking statements and projections. Such forward-looking statements are inherently subject to risks and uncertainties. The actual results of Latimeria could differ materially from those anticipated due to a number of factors, including, without limitation, the competitive nature of the industry, economic and/or political turmoil, and additional factors beyond the Company’s control. The Company is not obligated to update or revise any forward-looking statements and/or projections.

Contact Info

Mr. Eitan Sessler

Email: [email protected]

Tel: +972-54-4675097

08 March 2014

mailto:[email protected]

Latimeria aims to provide high quality fingerlings, produced in an innovative and sustainable

environment, to marine and inland fish farms worldwide.

The Business

Latimeria aims to establish advanced fish breeding centers for the production of fingerlings.

Our goal is to lead the commoditization of fingerlings worldwide; starting in Israel with the

production of grey mullet (Mugil cephalus) fingerlings as our first product. By implementing our

unique Water-Ring system, a minimum discharge – generic recirculating aquaculture system

specifically designed to target the biological needs of broodstocks, along with our expert biological

know-how, we aim to procure high quality fingerlings year-round. The commoditization of

fingerlings will assist commercial fish farms to address the growing demand for fish by increasing

their yearly production yields; increasing global supply for human nutrition.

The Pilot Plant

Latimeria has been operating a successful pilot facility since September 2011. The pilot is

located at Kibbutz Ein Shemer’s Ecological Greenhouse. The major focus of the pilot project was to

develop and calibrate our unique Water-Ring system, a task that we successfully achieved. The pilot

facility has been operating under “true conditions”, that is, mimicking a commercial broodstock

operation, but in a smaller scale. Five Water-Ring systems are fully operational holding model

broodstocks of grey mullet.

1 Content is Private & Confidential


The Aquaculture Industry

Representing the starting point of the aquaculture fish

industry, with an estimated global fingerlings production value

of ~2.3B USD/year1 (~4.8M USD/year2 in Israel), the breeding

center business is a key part of the ~70B USD/year3 global

aquaculture fish industry. With growing world food

consumption, the aquaculture industry is expected to continue

to grow rapidly (~9%/year) alongside with the increased

demand for sustainable fingerlings sources that provides high

quality nutrition derived from fish.

Grey Mullet - Israeli Market

On average, 2,000 tons of grey mullets are consumed in Israel per year. Fingerling supply is

captured-based, as in all other grey mullet producing countries. Each year, four to nine million grey

mullet fingerlings are caught along the Israeli coast line and its estuaries, and shipped to inland fish

farms to be raised for 24-36 months. Due to this availability and the lack of breeding knowhow,

progress was not made to establish a commercial breeding center, locally and worldwide. As such,

grey mullet growers are under suppression and suffer from the following bottle-neck supply

problems:

• A profitable fish with limited capture-based fingerlings supply

• Non-sustainable, irregular and unpredicted supply

• One non-optimal stocking season

• Unfavorable mullet species

Nowadays, and after several years of successful trials at the National Center for Mariculture

(NCM), Eilat, Israel, breeding and larva growth knowledge is available. Leading marine fish breeding

1. Figure derived from global value of aquaculture industry; footnote #3 2. References: The Israeli Ministry of Agriculture and Rural Development (2007 data). Mariculture only; excluding grey

mullet production 3. References: FAO. 2011. The state of world fisheries and aquaculture 2010 (2008-2010 data). Rome

Total world fisheries production 1950 – 2030 Capture and Aquaculture

(Fish, aquatic invertebrates, aquatic plants) Including conservative future estimations

FAO, 2011

centers in Israel, Dag-On and Ardag, are establishing grey mullet broodstocks, acknowledging the

business potential in producing grey mullet fingerlings for the domestic market. In addition, growers

express their keen willingness to purchase fingerings from a sustainable source to support the

increase in grey mullet demand – 3,000 tons of mature grey mullet per year.

The Team

With diversified backgrounds and know-how, and outstanding biological, operational and

business capabilities, Latimeria’s management team is well equipped to confront this challenging

venture:

Mr. Itai Ivery

Head of Operations and Technology

Itai has been a special algae technology consultant for Frutarom Ltd, a world leader in the

production of chemicals and extracts for the cosmetics and food industries, since 2013. Prior to this,

Itai was the project manager for Seambiotic’s pilot site in Ashkelon, Israel, since 2006, were he

gained much experience in growing marine microalgae using a revolutionizing ecologically based

environmental system. Before joining Seambiotic, Itai worked for ten years as the General

Operations Manager at “SeaOr Marine Enterprises Ltd”; a two hectares environmentally friendly

poly-culture system that Itai planned, co-founded and managed. Itai started his aquaculture career

working for seven years as the Head Technician in the Department of Saltwater Fish Reproduction

at the Israel Oceanographic and Limnological Research, National Center for Mariculture (IOLR-NCM)

in Eilat, Israel. In NCM Itai specialized in the reproduction of several marine species, including: sea

bream, seabass and grey mullet.


Gilad Heinisch, Ph. D.

Head Biologist

Gilad specializes in fish physiology, in particular, sexual maturation and reproduction. Gilad

worked for seven years as a student and a technician in the Fish Reproduction and Fish

Pathobiology Departments at IOLR-NCM in Eilat, Israel. During that time, Gilad gained substantial

experience in the fields of reproductive biology, broodstock management and fish diseases. His

areas of expertise include spawning induction techniques, production and delivery of slow-release

hormonal implants, diagnostics and treatment of various fish diseases, fish sampling and endocrine

analyses. In addition, Gilad has several years of “hands-on” experience with grey mullet and bluefin

tuna reproduction, and during the last decade, has been investigating sexual maturation and

reproduction in wild populations of Atlantic bluefin tuna. Gilad holds a B. Sc. and a M. Sc. (with

honors) from the Hebrew University of Jerusalem. and a Ph. D. from the University of New

Hampshire.

Mr. Eitan Sessler

CEO and Head of Business Development

Eitan is a multi-disciplinary entrepreneur with substantial experience and knowledge in

business development. Eitan provides business development services for pre-seed startups, small

size companies and nonprofit organizations. Prior to founding Latimeria, Eitan held the position of

Operations Manager at Pisga Engineering LTD, an Aerospace and Defense Engineering consultant

company, for five years. Concurrent with his work at Pisga, and for the past two years, Eitan co-

owned and operated Kayamut Solutions LTD, a business and scientific consultant company

providing services for companies in the clean-tech and aquaculture sectors. Eitan is a graduate of

the Kellogg-Recanati Executive MBA program (joint degree of Northwestern and Tel Aviv

Universities) and holds a B.A. degree (with honors) majoring in Entrepreneurship and Marketing

from the Interdisciplinary Center (IDC) in Herzliya, Israel. Eitan is a member of the board of

the Ecological Greenhouse in kibbutz Ein Shemer, a nonprofit organization promoting education,

ecology and social involvement.


Venture Highlights

Venture led by experienced and driven team

Proven track record in constructing, developing and maintaining large scale commercial

aquaculture and mariculture projects

Vast “hands-on” experience in fish reproduction

Breeding center utilizes an innovative and unique in-house breeding system

Venture is a key element in the multibillion aquaculture industry; one of the fastest growing

industries and a major part in the world food supply

A business with various potential for growth and expansion

A promising combination of team, market, technology and biology!


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