Newsletter December 2025

Happy Holidays!

Pictured: board members and advisors, from left to right: Will Jonk, Hein Koning, Mylène Bakker, Nico van Straalen, Tom Kok and Dirk Langerveld; absent: Hein Schilder and Ton Plat. Mylène joined the board in October as Evert Smit's replacement.

The progress of our research program, focused on glass eel farming, depends crucially on the continued support of everyone who has invested in our company. We owe many thanks to the shareholders, the European Maritime Fisheries and Aquaculture Fund for the grant and, of course, our team of five biologists who make this possible.

Some memorable points from the past few months:
- Dinis Cardoso participated in the Aquaculture Europe conference in Valencia in September 2025. Participating in international conferences keeps us abreast of the latest developments in aquaculture science.
- Mariana Vieira completed her courses in laboratory zoology and is now (like the other biologists) fully qualified as an “Article 9” employee under Dutch law. In connection with this, she was promoted as a biological researcher.
- In the culture of eel larvae, we have achieved a significant improvement in early development. We are now at an average hatching rate of 68% (with peaks above 80%) and a survival rate of 33% during the first 14 days, the highest values achieved to date.
- We made several modifications to the culture protocol to improve the survival of young larvae (between 14 and 42 days after egg hatching) and to achieve consistent survival and growth during this period, the most critical stage in the life cycle.

Detailed progress reports will be provided to the Supervisory Board quarterly starting in 2025.