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NaturalShrimp finalizes acquisition, begins stocking shrimp at Iowa facility
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Dallas, Texas, U.S.-based NaturalShrimp has announced the acquisition of assets of F&T Water Solutions, LLC.
The USD 10 million (EUR 8.1 million) purchase includes 49 percent of Natural Aquatic Systems owned by F&T, in addition to patents on the electro-coagulation system and the associated equipment and processes owned 50 percent and 100 percent by F&T, respectively.
“This acquisition represents the final phase of our joint development of the electro-coagulation (EC) technology begun by F&T Water Solutions and its former president, Peter Letizia,” NaturalShrimp CEO Gerald Easterling. “We now own and control this EC technology as it relates to all aquaculture species and applications. We plan to utilize this technology in all of our shrimp-growing operations and to license to other aquaculture ventures worldwide.”
NaturalShrimp makes another acquisition, buying Hydrenesis Aquaculture seafoodsource.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seafoodsource.com Daily Mail and Mail on Sunday newspapers.
Land-based shrimp farmer Natural Shrimp launched its new Webster City, Iowa facility Tuesday, with plans and decisions related to the project to be determined in the future.
The company agreed to acquire the assets of barramundi farmer Alder Aqua for $10 million (€8.5 million) in August.
The company is currently converting additional square footage used as storage into a shrimp processing facility.
Natural Shrimp s three Iowa facilities hold tanks and infrastructure, which could support the company s production model.
The facility bought off Alder Aqua holds 240 tanks, each with a capacity of 10,000 gallons.
-Messenger photo by Anne Blankenship
Gerald Easterling, chief executive officer of NaturalShrimp LLC, third from left, and Mayor John Hawkins, second from left, manned the large scissors to cut the rib bon at the companyâs new Webster City plant. The firm purchased the assets of Alder Aqua, formerly known as VeroBlue Farms. -Messenger photo by Anne Blankenship
Hamilton County Supervisor Jerry Kloberdanz, left, and Zach Chizek, city attorney for Webster City, center, listen to Gerald Easterling, CEO of NaturalShrimp LLC, discuss plans for the companyâs Webster City production facility Friday afternoon. -Messenger photo by Anne Blankenship
NaturalShrimp LLC displayed the companyâs logo on a sign during Fridayâs ribbon cutting ceremony at its new Webster City facility.