NaturalShrimp, Inc. (OTCQB:SHMP) celebrated the ribbon cutting of its new facility in Webster City, Iowa, which will be the largest RAS shrimp company in the U.S. The facility will produce fresh, locally-grown shrimp, targeting markets in Chicago and Minneapolis. CEO Gerald Easterling noted that the proprietary technology used at the plant enhances water quality control and eliminates the need for wastewater disposal. Installation of RAS units is expected to be completed within 60 days, with significant production anticipated starting in February 2021.
NaturalShrimp, Inc. (OTCQB: SHMP) has signed a Letter of Intent with Ecoponex Systems International to establish a joint venture combining shrimp aquaculture technology and Renewable Energy Efficient Farm (REEF) technology. Ecoponex will provide funding and proprietary technology for food production facilities. NaturalShrimp will license its shrimp growing technology and water treatment systems. The joint venture aims for a closing date in Q1 2021. This partnership is expected to enhance environmental benefits and operational efficiency in urban agriculture.
NaturalShrimp, Inc. (OTCQB: SHMP) announced a construction update for its shrimp production facility in Texas. The company has completed the red steel framework of a 40,000 sq. ft. building and is progressing with wall, roof, and insulation installations. Two internal catwalks are also under construction for maintenance and operational purposes. Deliveries of essential tank kits are ongoing, with 11 nursery tanks received and 20 growout tank kits shipped. The construction is on schedule, with shrimp stocking expected by the end of 2020.