The latest Virtual Research Environment (VRE) released by BlueBRIDGE has been conceived for all the aquafarming enterprises that want an answer to the question: how can I maximize the growth rate of my livestock by minimizing the production costs?
Three Greek aquafarming SMEs (Alieia SA, EllinicaPsaria, Forkys SA ) are already using this VRE. In order to extend the usage of this VRE to other SMEs and showcase its current capabilities, a demo VRE has been created and named: AquacultureTrainingLab.
The VRE was showcased and used during the HYDROMEDIT 2016 international conference, where around 20 researchers, students and managers in aquaculture domain tried and played with it.
AquacultureTrainingLab provides its users with a set of aquafarming assessment tools enabling them to perform evaluation growth analysis and techno economic investment analysis.
Let’s take a virtual tour of the VRE capabilities: Once you have been granted access to the VRE (simply register here and gain access to the VRE by clicking on the icon of the AquacultureTrainingLab), you are in your own online web-based application.
On the top menu, you have different tabs through which you can access different functionalities:
- Setup Sites: allows you to create your own farm. By entering basic information such as region, oxygen and current rating as well as the average temperature fortnightly, your site is set up.
- Setup Models: In the set up model section, you can create and manage models for the estimation of main production Key Performance Indicators (KPIs) i.e. Biological FCR, SFR, Mortality rate and SGR. The models are created by providing the system historical data of representative fish populations and it is based on the methods and algorithms of aquaManager system (www.aqua-manager.com).
- What-If analysis: allows you to create, manage and evaluate what-if scenarios. You can employ a model to forecast the growth of the fish and other production KPIs specifying the stocking fish number, average weight and the production period. In this way you are able to predict the outcome of the production, make accurate production plans and benchmark your performance against global growth models. The results are displayed in user-friendly visualisations including bar charts, line plots and tables.
- Techno Economic Investment Analysis: allows you to use the aforementioned production models as a cost parameter to your cost-driven investment analysis. Also, an estimation of technological cost of an aquafarm is taking place here. With this tool you can fine tune the economics of your own farm by testing the effect that slightly changes on basic values like feed price, fry price and selling price can have on your final ten-year farm investment result. Various investments’ performance indicators such as the Net Present Value (NPV) and the Internal Rate of Return (IRR) are also calculated for you. The analysis’ findings are displayed to you in vivid graphs and analytical tables so that you can have a detailed view of your investment through cash flows analysis.
Aquafarmers highlight the lack of such services for production planning and financial forecasting. BlueBRIDGE is building these tools. Try them out and give us your feedback!