RESQUNIT launches new product ETR Electronic Time Release

Resqunit's primary markets are Norway, Canada and US, with an estimated addressable volume market of 25 million units in the fishing industry alone, projecting revenue opportunities of 30 MUSD over the next three years with 10% market share on the new product named Resqunit ETR Electronic Time Release, alone. The ETR launch initiates the implementation of the company's sales activities and strategies in these regions.

Resqunit CEO, Helge Trettø Olsen says:
"Billions of dollars of seafood is wasted every year to ghost fishing, resulting in rapidly decreasing animal stocks globally. Electronic Time Release has the potential to put a final end to this problem."

Disarming lost fishing gear today requires tedious maintenance and replacement procedures regularly. The most common solutions are biodegradable and corrosive mechanisms. Resqunits new electronic solution is maintenance free and is designed to be self-operated, meaning that after being installed, no user interactions are needed. The unit is "self-aware" and has a lifespan of seven years.

With an escape mechanism, like the company's yellow backup-buoy, predictability is crucial for locating and retrieving lost gear. An ETR-based configuration will open lost cages in a preset number of days, as opposed to up to four years with today's regulated solutions.

The Electronic Time Release is designed as a multipurpose release mechanism, having a wide range of applications in different industries, with sample-orders already received.

"These initial sample-orders will help us confirm the value proposition of our products, and open up a range of opportunities for Resqunit", Olsen says.