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LaCoste-based NaturalShrimp Inc., which touts its Medina County facility as being the nation’s first successful inland saltwater shrimp farm, is expanding its indoor shrimp-growing operations across the U.S., the company announced Monday.
The company earlier this month signed a letter of commitment with Trane, Inc., a division of North Carolina-based Ingersoll Rand, to design and duplicate NaturalShrimp’s system for use in multiple locations, the company said in announcing the agreement.
The new deal will “allow us to leapfrog from being a single-location producer to being a major supplier of shrimp and, potentially, other aquatic species,” NaturalShrimp President Gerald Easterling said in the statement. “The oceans of the world are over-fished and abused. Our technology, as streamlined and perfected by our partner engineers, will produce healthful, tasty and plentiful shrimp and other aquatic species for people around the world, with no ecological stress.”
Bill Williams, NaturalShrimp’s CEO, in an interview said the agreement came as the company evolved from a 15-year research and development phase into a publicly traded company that “had finally cracked the code on how to do this.”
“This is a technology that everybody knew that once we learned how to do it, it literally can change the nature of the business,” he said. “And we kept at it till we figured out how to do it.”
According to U.S. Department of Agriculture data, the U.S. in 2015 imported nearly 1.3 billion pounds of farmed shrimp, making it the world’s top market.
But shrimp farming in coastal areas has been problematic, Williams said, with many farms operating only a few years before the shrimp die off.
“They’re destroying the estuaries,” he said. “They move the effluent back out into the seawater, it’s ridiculous.”
While Williams declined to go into detail, he said that NaturalShrimp imported Red Sea salt and used a “nutritious formula” that included grain as well as squid mantle to grow white pacific penaid shrimp, which is a preferred aquaculture variety.
“It’s not really the salt water or being on the sea that makes an enclosed system successful,” he said. “It’s a lot more complex than that.”
Corporate regulatory filings show NaturalShrimp has been operating in the red, with a net loss of $270,445 for the three months ending on June 30 as the company continued to invest in developing its technology. In January 2015, the company entered into an agreement with Nevada-based Multiplayer Online Dragon, Inc. to raise more capital by taking the company public.
Williams said NaturalShrimp is already selling shrimp to high-end restaurant chains and has ample market demand to justify expanding operations, both within its current 37-acre campus in LaCoste and elsewhere.
“All we have to do is rent large warehouse space and we can move our system right into it,” he said. “They want us to come to New York; Nevada wants us to come to the Las Vegas area.
“It works,” he said. "We've made it work and it’s going to change the nature of the seafood business.”
lbrezosky@express-news.net
AI
