THERMAL, Calif., March 10, 2016 /PRNewswire/ -- New Global Energy, Inc. (OTCQB: NGEY) ("the Company"), a public company focused on Aqua-Farming, Agriculture, and Health & Wellness, announced today that its tilapia season is in full swing and on schedule to produce record breaking revenue.
At Aqua Farming Tech, NGE's wholly owned subsidiary, there are two spawning seasons in the Spring and Fall that produce one million tilapia each that we expect to be a total of two million annually. This month, the Fall season's tilapia are coming to full maturity at approximately one pound each and are preparing to go to market at $3.60 per pound (delivered) or $3.00 per pound (picked up at the farm) with price increases expected.
"We are very pleased that our tilapia farm operation in the Coachella Valley is more profitable and sustainable than ever before," said Chief Executive Officer Perry D. West. "As soon as our tilapia reach full market size we are ready to ramp up sales in order to meet increased consumer demand for quality seafood. 2016 will be a record year for our farms."
New Global Energy's farms are uniquely suited to grow tilapia, which is a tropical fish, because of the area's warm climate and the availability of warm fresh water from geo-thermally heated wells. The company's proprietary fish feeding methodology saves up to 70% on overall feed costs. The fish are fed nutrient rich algae and other aquatic plants for their first four months in grow-out ponds that represent a natural environment.
About New Global Energy, Inc.
New Global Energy, Inc. (www.newglobalenergy.net) is a public company focused on acquiring high-growth firms, assets and properties in the Aqua-Farming, Agriculture, and Health & Wellness industries. The trading symbol is NGEY traded on the OTCQB. New Global Energy seeks to create sustainable projects and protect the environment.
Safe Harbor Statement
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For more information please contact:
Charlotte Luer, Director of Investor Relations
SOURCE New Global Energy, Inc.