NaturalShrimp (NSI) 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. The projected $25 million project is expected to launch in Q1 2021.
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 and CEO, Gerald Easterling, said that “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.”