The last years we’ve taken great steps towards realizing our dream to become a profitable company and thereby save the European eel. Until now, the advances at Glasaal Volendam B.V. are according to the initial projections in 2011. Most of the progress was enabled by the funds that were collected in 2011. Glasaal Volendams first investments were supplied by (mostly) local entrepreneurs, but also individuals and a subsidy from the Dutch Government. Initial investments added up to a total of 1,900,000 euros and enabled Glasaal Volendam B.V. to realize its research facility including equipment, fish tanks and filters and put together a highly-educated staff.
The next step towards the realization of a steady glass-eel production was to achieve a continuous supply of good quality larvae to allow the acceleration of research. This process consumed time and money for research, maintaining the facility, equipment and our team of aquaculture scientists. Funds were provided by a second emission of shares yielding another €320,000.
Revealing the final steps towards production of glass eel will require even more research though. To this end, we expect to require an other €1,300,000 until 2022.
We aim to rear our first glass-eel in 2022. In the years following that milestone, Glasaal Volendam B.V. has to scale up and start generating profits. At the moment when the life-circle of European eel is closed, Glasaal Volendam B.V. will build a large-scale eel hatchery that immediately generates a stable cash-flow.
The board of Glasaal Volendam B.V. is willingly to get in touch with substantial parties who, like Glasaal Volendam B.V., believe in saving the European eel and establishing a new business. When you are (a representative of) such a party, please do not hesitate to contact us.