Climate Change Data

Environmental Metrics

ESG Focus Areas

• Ocean sustainability
• Reducing plastic waste
• Sustainable fishing practices
• Animal welfare
• Data collection for environmental research

Environmental Achievements

• Sold over 15,000 units of Resqunit Buoy in the Norwegian recreational and cleaner fish fishery.
• Developed Aquarius X, a multi-purpose ocean welfare sensor for data collection.

Social Achievements

• Collaborated with Sig Hansen to build global brand awareness.
• Partnered with Global Ghost Gear Initiative in Jamaica and Belize, and Marine Research Institute in Norway.
• Incorporated Resqunit’s base product into the new Norwegian fishery legislation in the lobster fishery as an “Alternative approved solution for escape mechanism”.

Governance Achievements

• Established Resqunit AB as a holding company for improved investor relations.
• Appointed a Certified Adviser (Mangold Fondkommission AB) and legal advisor (Eversheds Sutherland Advokatbyrå AB).

Climate Goals & Targets

Environmental Challenges

• Commercializing new products in a traditional industry.
• Meeting expected standards for product development.
• Outsourcing mass production to a Chinese manufacturer.
• Securing adequate funding for growth and R&D.
• Protecting intellectual property rights.
• Maintaining good relationships with customers, partners, and suppliers.
• Potential impact of COVID-19 on operations.

Mitigation Strategies

• Agile product development methods.
• Testing in local and deep-sea facilities.
• Internal control systems for development and production.
• Securing soft-funding and other financing options.
• Patent applications for core technologies.
• Strong branding and collaboration with Sig Hansen.
• Ongoing assessment of internal competence and key positions.

Supply Chain Management

Responsible Procurement

• Plans to use recycled plastics in production.

Climate-Related Risks & Opportunities

Opportunities

• Data collection for climate research.

Reporting Standards

Frameworks Used: Swedish GAAP (BFNAR 2012:1 (K3)), Annual Accounts Act (1995:1554)

Third-party Assurance: RSM Norge AS, RSM Stockholm AB

UN Sustainable Development Goals

• Goal 13 (Climate Action)
• Goal 14 (Life Below Water)

Resqunit's initiatives contribute to these goals by reducing plastic waste, mitigating ghost fishing, and collecting data for ocean research.

Sustainable Products & Innovation

• Resqunit Buoy
• Aquarius X

Environmental Metrics

ESG Focus Areas

• Sustainable fishing practices
• Combating ghost fishing
• Environmental protection
• Responsible business practices

Environmental Achievements

• Products featured on Discovery Channel's "The Viking Returns", increasing awareness of ghost fishing and the company's solutions in over 100 countries.
• Acquisition of Global Ocean Data AS, streamlining operations and decreasing monthly burn rate by more than 400,000 SEK.

Social Achievements

• Distribution agreements with West Coast Lobster License Sales Inc. (Australia), Enterprises Shippagan ltd. (Canada), Ad Mare Solutions Lda (Portugal), and Intermas Group (70+ countries).
• Participation in various conferences and events promoting sustainable fishing practices and the company's solutions (e.g., Seafood Expo Global, UN Ocean Conference, NorFishing).

Governance Achievements

• Successful capital raise, enabling investments for mass production and securing deliveries.
• Directed private placement of SEK 3.75 million to institutional investors DSD AS and MIF Marine Invest.

Climate Goals & Targets

Environmental Challenges

• Manufacturing delays due to minor product modifications identified during final quality control.
• Covid-19 pandemic and related supply chain disruptions.
• Risks associated with manufacturing in China (geopolitical situation, potential trade blockades and tariffs).

Mitigation Strategies

• Professional team navigated hurdles, manufacturing bounced back to start product deliveries in Q1 2023.
• Exploring new ways to make the product more efficient and less expensive to manufacture.
• Tailoring the product to meet the needs of different markets.
• Building infrastructure through partners to increase direct sales and reduce reliance on distributors.
• Establishing a safer alternative for manufacturing outside of China without compromising quality or increasing costs.

Supply Chain Management

Responsible Procurement

• Exploring alternative manufacturing partners and locations

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

• SDG 14: Life Below Water

Resqunit's technology helps to reduce the impact of lost fishing gear on marine ecosystems.

Sustainable Products & Innovation

• Resqunit Trap Recovery System

Environmental Metrics

ESG Focus Areas

• Sustainable fishing practices
• Combating ghost fishing
• Environmental sustainability

Environmental Achievements

• Successfully tested Resqunit technology in key regions, resulting in increased adoption by fishermen and governments.
• Sold out first batch of 1000 units by May 2023.
• Relocated manufacturing from China to Portugal, reducing manufacturing and shipping costs.

Social Achievements

• Strengthened ties with key distributors, expanding market reach.
• Launched webshop to facilitate orders from regions beyond primary distribution networks.
• Engaged with media, key players in the fishing industry, and European authorities to promote sustainable fishing practices.

Governance Achievements

• Completed a directed private placement of SEK 3.75 million to institutional investors committed to sustainable practices.
• Established a new manufacturing base in Portugal through partners.

Climate Goals & Targets

Environmental Challenges

• Manufacturing delays earlier in the year prevented capitalizing on the spring season in Atlantic Canada.
• Influencing the fishing industry, a centuries-old profession, requires patience, understanding, and collaboration.

Mitigation Strategies

• Strong comeback in preparation for the upcoming fall fisheries in Atlantic Canada, including a sales tour with a major shareholder.
• Relocated manufacturing to Portugal to reduce costs and improve efficiency.
• Developed a webshop to expand market reach.

Supply Chain Management

Responsible Procurement

• Relocation of manufacturing to Portugal to leverage regional expertise and reduce costs.

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

• SDG 14: Life Below Water

Resqunit's technology contributes to reducing ghost fishing and protecting marine ecosystems.

Sustainable Products & Innovation

• Resqunit Trap Recovery System