NaturalShrimp, Hydrenesis collaborate on $25M RAS project
The project is expected to cost US$25 million. The facility will house a shrimp production operation, a genetics and hatchery laboratory, and a research and development test-bed.
Both companies have commenced funding negotiations with all appropriate parties in Florida, with financing commitments expected towards the end of the first quarter of 2021.
NSI, which is known for developing and commercializing a recirculating aquaculture system (RAS) for shrimp production, will control 51 per cent of the joint venture. The company’s proprietary technology will be used 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.
“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,” said Gerald Easterling, president and chief executive officer of NSI. “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.”