Ocean Harvest Technology Group plc (OHT) has reported positive findings from a commercial scale trial demonstrating the benefits of including its OceanFeed Swine in the diets of pregnant sows. The trial, conducted at a customer's research facility, revealed that the inclusion of OceanFeed Swine resulted in increased piglet births, improved sow body weight, and enhanced milk quality, leading to an additional revenue of over $24 per Sow per year. This represents an approximate 5% improvement in profit per sow for the targeted groups of sow farming customers.
The trial, funded by OHT, involved over 800 sows and showcased the advantages of including OceanFeed Swine in the diets compared to a standard commercial control diet. The results showed a 3% increase in the number of piglets born and a 3.2% increase in the number of piglets born alive. Additionally, the sows supplemented with OceanFeed Swine were heavier at farrowing and weaning, and their milk quality in the first day after birth was higher compared to those fed the control diet.
Ocean Harvest Technology Group sees a significant commercial opportunity in the swine market, estimating that over $100 billion is spent annually on swine feed. The company believes that the opportunity to sell into sows is roughly double that of selling into piglets, with sales of OceanFeed Swine into piglets representing approximately €750,000 of revenue in 2023. This indicates substantial growth potential from the commercial application of these results.
Mark Williams, CEO of Ocean Harvest Technology Group, emphasized the significance of the trial's results, stating, "The performance benefits resulting in a profitability improvement of roughly 5% for the producer in this trial presents OHT with a significant ability to grow its swine business." He also highlighted that the trial triples OHT's addressable market for its OceanFeed Swine product.
Ocean Harvest Technology Group plc is a global leader in the development and commercialization of value-adding proprietary products from blending multiple species of seaweed. The company provides natural additives focused on improving animal performance and the sustainability of the feed chain. With its products sourced globally and produced in Vietnam, OHT targets the $40 billion animal feed additive sector in multiple markets across the world.