25 Million Dollar Projected Project is Expected to Launch in Q1 2021
Dallas, TX (GLOBE NEWSWIRE) - via NewMediaWire - NaturalShrimp, Inc. (NSI) (OTCQB:SHMP), an aquaculture Company which has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) for shrimp, announced today that it has partnered with Hydrenesis, Inc., a private technology owner and technology commercialization company that partners with leading IP holders and industry insiders to commercialize innovative technologies, to build a premier indoor shrimp production facility in northern Florida. NSI will control a 50.1% stake in the venture and will utilize its proprietary technology to oversee the shrimp-growing facilities occupied on the site. Hydrenesis will supply its hyper-antioxidant technology, along with consulting and project management. The project will also employ certain intellectual properties owned by F&T Water Solutions, LLC. The proposed state of the art facility will house a shrimp production operation, a genetics and hatchery laboratory, and an R&D test-bed.
This facility will provide fresh, never-frozen shrimp to the surrounding area, providing access to new markets in northern Florida. Both companies have commenced funding negotiations with all appropriate parties in Florida, with financing commitments expected towards the end of Q1 2021.
Natural Shrimp’s President/CEO, Gerald Easterling, said, “This joint venture with Hydrenesis could allow us to capture substantial market share in the southeast portion of the United States. We believe this opportunity will benefit both companies, as well as Florida. We are in the process of acquiring the assets of F&T Water Solutions, LLC, so being able to implement their proprietary technology into this project further solidifies the synergies between the two organizations.”
Hydrenesis CEO, David Antelo, added, “We look forward to this venture with NaturalShrimp. The opportunity to collaborate as a technology partner is exciting and the timing could not be better. We hope to capture value from markets that have never had access to the high quality of seafood we can provide.”
NaturalShrimp, Inc. is a publicly traded aqua-tech Company, headquartered in Dallas, with production facilities located near San Antonio, Texas. The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp.
Headquartered in Pompano Beach, FL, Hydrenesis is a private technology owner and technology commercialization company that partners with leading IP holders and industry insiders to commercialize innovative technologies in major industry sectors.
About F&T Water Solutions, LLC
F&T Water Solutions is an advanced water treatment company specializing in electrocoagulation and chemical free integrated technologies. F&T offers an advanced water treatment system, Variable Electro Precipitator™ (VEP™), in conjunction with other pre and post treatment components to provide portable and fixed based solutions to our customers.
Forward Looking Statements
This press release contains “forward-looking statements.” The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company’s current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company’s control and could cause the Company’s results to differ materially from those described. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements include statements regarding moving forward with executing the Company’s global growth strategy. The statements are based upon current beliefs, expectations and assumptions and are subject to several risks and uncertainties, many of which are difficult to predict. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward looking statements contained in this press release as a result of new information, future events or otherwise, except as required by law. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include, but are not limited to the Risk Factors and other information set forth in the Company’s Annual Report on Form 10-K filed on June 29, 2019, and in our other filings with the U.S. Securities and Exchange Commission.
© 2021 GlobeNewswire, Inc. All Rights Reserved.