Letter from CEO - Visson - Misson

Open letter from the founder team

With our mission of "sticking to the sea, side by side with fishermen", with our understanding of the financial burden caused to fishermen by their significant spending on fuel oil used for lighting in each sea-going trip, we strive each day to accompany fishermen to solve both financial and sustainability issues in the fishing industry in specific ways.

Stemming from our special bonding and affection with the fishermen of Vietnam, our  admiration for their bravery and hardship endurance, we feel heartbroken that so far advance technologies has not helped you reduce current burden of excessive fuel oil costs. Even though there are companies that make LED lights for fishing vessels, their products have high prices, low level of brightness and inferior durability. In Vietnam’s neighboring countries, including ASEAN countries, China and Korea, nowhere do we see LED lighting technology being widely used to replace high-voltage metal halide bulbs at reasonable cost to fishing vessel owners.

With the number of fishing vessels using metal halide bulbs in Vietnam alone in the tens of thousands, each sea-going night a vessel consumes from a few hundred to nearly a thousand liters of fuel oil at great expense. Every night, fishing vessels release tens of thousands of tons of exhaust gas, polluting the marine environment, warming the atmosphere, and destroying the marine ecosystem. We see it an urgent problem that needs to be solved immediately without further delay.

What’s more, the level of post-fishing seafood wastage is simply too much. This wastage is mostly due to poor conditions of refrigeration, lack of on-sea Instant Quick Freezing (IQF) facilities, improper packaging and preservation.

On the other hand, consumers in big cities, like Hanoi, Vietnam (population: 10 million) have to buy unhygienic seafood that is not properly preserved. IQF preserved seafood is expensive, available in limited quantity and is practically beyond reach of the average consumer.

If these situations continue to happen without a reliable and sustainable solution, it is clear that in just 10 to 15 years the marine fishing industry will face a serious crisis, with marine resources irreversibly depleted. Millions of people with jobs in fisheries will be affected.

Those are burning issues that drive us to bind our work, our life single-mindedly to that of the fishing industry and the Vietnamese fishermen.

MISSION

The 111 Company researches and delivers technological solutions to solve operations and sustainability problems in the fishing industry, directly contributing to improving livelihood of fishermen and conserving marine ecosystems, by improving both the fishing process and seafood preservation process.

2020 VISION

Become a TOP 3 leading providers of technology solutions to the fishing  industry in Vietnam.

In the next 10 years from 2020 to 2030, our company will grow in two phases:

Phase 1: focus on providing effective and efficient solutions to reduce fuel consumption in marine fishing, making 111 LED lights for fishing vessels the nation’s best-seller product in its category.

Phase 2: beyond lighting, develop second focus on superior solutions for preserving seafood, enabling direct ship-to-consumer seafood products.

CORE VALUES

Dedication – Reputation – Efficiency – Creativity – Breakthrough technology