(Alliance News) - FOS Spa announced Wednesday that it is the lead partner in the R&D project "Demetra: a systemic and integrated approach based on aquaponics and waste valorization for the creation of a pilot food system."

The value of the project is EUR5 million, of which EUR2.5 million is funded by the Ministry of Enterprise and Made in Italy through the MISE call.

The FOS investment will be about EUR1.5 million, financed by a grant of EUR560,000. The project is scheduled to start in January 2024, with a duration of 36 months.

The primary objective of the project - in partnership with ENEA - National Agency for New Technologies, Energy and Sustainable Economic Development, DiARC - Department of Architecture of the University of Naples Federico II, IRCI Spa and Grafica Metalliana Spa - is the creation of an integrated food system based mainly on the creation of a green and intelligent agricultural system capable of producing safe food with high nutritional properties through the application of aquaponics and plant-fish symbiosis, which will constitute an ecological and sustainable source of nutritious food.

FOS stock is unchanged at EUR3.38 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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