RushNet Partners with Royal Caridea LLC Through an Exclusive Licensing Agreement to Revolutionize Sustainable Aquaculture

Rhea-AI Summary

RushNet, Inc (RSHN) secures exclusive rights to Royal Caridea LLC's innovative aquaculture technology platform through a strategic license agreement. The technology allows for cost-effective shrimp cultivation with scalable production capabilities. Royal Caridea's system prioritizes environmental sustainability and has received significant funding and support. RushNet aims to introduce this disruptive technology to the US and Canadian markets, potentially revolutionizing aquaculture practices.

Technology Platform Has Been Granted Patents in Over 40 Countries Including -- United States, Canada and Europe

Patents Include United States Patent 11,206,817, 11,617354 and Canadian Patent 2973601

PHOENIX, AZ / ACCESSWIRE / March 7, 2024 / RushNet, Inc (OTC PINK:RSHN), (the "Company") announced today that it has executed a strategic license agreement with Royal Caridea LLC, granting RushNet exclusive rights to its technology platform for the United States and Canadian markets. Royal Caridea LLC is completing a demonstration facility in Gila Bend, Arizona which sits on 72 acres, approximately 68 miles southwest of Phoenix, Arizona.

The Royal Caridea technology platform empowers individuals to cultivate and harvest aquaculture species such as shrimp from virtually anywhere in the world. Boasting characteristics of low production costs, easy installation, full integration, and modularity -growing shrimp close to its customers virtually on a daily basis, each production system can seamlessly scale from 300 thousand pounds per year to an impressive 2 million pounds per year. With a fully enclosed sealed design, it minimizes heat loss and facilities corrosion while maintaining robust biosecurity measures, the system adheres to stringent operating protocols, guaranteeing optimal performance and efficiency.

The following table depicts the description of the patent, the patent number and a link to the patents which are included in the license agreement.

Description	Patent No.	Google Link
Multi-phasic Integrated Super-intensive Shrimp Production System	11,206,817	https://patents.google.com/patent/US11206817B2
Multi-phasic Integrated Super-intensive Modular System	11,617,354	https://patents.google.com/patent/US11617354B2
Multi-phasic Integrated Super-intensive Shrimp Production System	CA 2973601	https://patents.google.com/patent/CA2973601A1

With a relentless dedication to environmental stewardship, Royal Caridea has invested substantial resources in research and development to create a proprietary technology that addresses the pressing challenges facing the aquaculture sector. Leveraging advanced engineering and scientific expertise, Royal Caridea proprietary technology promises to enhance productivity while minimizing environmental impact - it is sustainable!

Royal Caridea LLC, an Arizona-based limited liability company, was established in 2009 under the laws of the state of Delaware and Arizona. The company has successfully secured over $8,000,000 in funding from a discerning group of accredited investors from both the United States and Europe. The company's business strategy is substantiated by a $2.7M loan granted by the United States Department of Agriculture (USDA) in 2020, underscoring the credibility of its operations. Royal Caridea LLC believes it has developed the world's premier aquaculture technology production system.

Mr. Cunha, the recently appointed Chairman and Chief Executive Officer of RushNet commented, "RushNet's goal is to work closely with Royal Caridea to introduce this technology platform to the United States and Canadian markets. We believe that Royal Caridea's system will be disruptive to the North America aquaculture markets. The system has been designed to supply a fresh supply of shrimp to any local market almost anywhere in the world."

About RushNet
With over 25 years in the public sector, RushNet has continually evolved, embracing change and innovation at every turn. The company is completing its transition out of the lab business.

CONTACT:
Michael Cunha
Phone 916-616-7037
Email mcunha53@gmail.com
Twitter Handle: @rushnetrevival

Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). The Company cautions that the statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. The Companies undertake no obligation to revise these statements following the date of this news release.

SOURCE: RushNet

View the original press release on accesswire.com

What technology platform has RushNet (RSHN) secured exclusive rights to through a strategic license agreement?

RushNet has secured exclusive rights to Royal Caridea LLC's aquaculture technology platform.

Where is Royal Caridea LLC's demonstration facility located?

Royal Caridea LLC's demonstration facility is located in Gila Bend, Arizona, approximately 68 miles southwest of Phoenix, Arizona.

What are the key characteristics of Royal Caridea's technology platform?

Royal Caridea's technology platform boasts low production costs, easy installation, scalability from 300 thousand to 2 million pounds of shrimp per year, full integration, and modularity.

What environmental aspect does Royal Caridea prioritize in its technology development?

Royal Caridea prioritizes environmental stewardship in its technology development, aiming to enhance productivity while minimizing environmental impact.

Who is the recently appointed Chairman and Chief Executive Officer of RushNet (RSHN)?

Mr. Cunha is the recently appointed Chairman and Chief Executive Officer of RushNet.