NaturalShrimp burned facility back in action soon
The company, which developed a commercially operational recirculating aquaculture system (RAS) for shrimp production, also revealed plans to expand operations in Iowa.
“We should be back in full production by late October or early November,” said Gerald Easterling, founder of NaturalShrimp in an interview with the Stock Day Podcast. Easterling also said he expects the first shrimp stocking to begin around that time.
Earlier in March, the company’s production facility at its headquarters in La Coste, Texas, was destroyed by a fire. In a statement issued at that time, NaturalShrimp said it believes the fire was caused by a natural gas leak in the building’s boiler room.
Easterling said the building now being constructed will be larger than the original facility.
The NaturalShrimp founder also said his company is in the process of closing an acquisition deal in Iowa.
In August this year, NaturalShrimp signed a letter of intent (LOI) to purchase for $10 million certain assets of the VeroBlue Farms.
VeroBlue Farms has three facilities in Iowa that contain the tanks and infrastructure that can be used to support the production of shrimp after incorporation of the NaturalShrimp technology:
- 270,000 square foot building
- 240 tanks (10,000 gallons each)
Buckeye – Radcliffe
- 24,000 square foot building
- o 24 tanks (10,000 gallons each)
- 50,000 square foot building
- 240 tanks (200 gallons to 500 gallons each)