NaturalShrimp, Inc., an aquaculture company that has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) for shrimp, signed a Letter of Intent (LOI) to acquire the assets of F&T Water Solutions LLC for $10 million.
F&T Water Solutions is a water treatment company specializing in electrocoagulation and chemical-free integrated technologies. F&T offers an advanced water treatment system, Variable Electro Precipitator(TM), in conjunction with other pre- and post-treatment components to provide portable and fixed based solutions.
William J. Delgado, CFO of NaturalShrimp, said that “we are extremely excited about this acquisition. It will consolidate our intellectual property as it pertains to non-shrimp aquatic species and other RAS opportunities into a new wholly-owned subsidiary. We will be retaining all IP related to aquaculture and related initiatives. F&T does maintain additional water and water-related opportunities that will be evaluated for potential sale or spin-out as appropriate.”
Gerald Easterling, CEO of NaturalShrimp, added that “NaturalShrimp has been working with F&T since 2014. Throughout this time, we have successfully applied for the patents around our current Electro-Coagulation (EC) technology. We also expect to file additional patents around the expansion of the application and use of the EC technology. In addition, in conjunction with F&T and others, we have launched several trials around salmon, barramundi and tilapia. We are very excited to continue our success of these ventures along with other JV opportunities to come.”