NaturalShrimp Inc (SHMP)

[12Retyr]

NEWS-NaturalShrimp Issues Iowa and Texas Production Updates

August 04, 2022 8:31am EDT


DALLAS, TX , Aug. 04, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – NaturalShrimp, Inc. (OTCQB: SHMP), a Biotechnology Aquaculture Company that has developed and patented the commercially operational RAS (Recirculating Aquaculture System), today issued a production update on its facilities in Iowa and Texas.

Iowa

The retrofit and ongoing production of 20% of the Webster City facility in Iowa has confirmed that the Company’s patented treatment technology can adapt to existing aquaculture facilities. The production team continues to increase production each month in the retrofitted 20% and will begin stocking in an additional 20% completed section this month bringing the total production area to 100,000 square feet or 40% of the building with the total production tank volume increased to 1.0 million gallons. The retrofit has mainly included replacing the previous tank biofiltration with NaturalShrimp technology and upgrading the tank heating system. The retrofit of the remaining 60% will continue next, to increase the weekly production to 18,000 pounds during the second quarter of 2023 along with beginning development of a hatchery at the Blairsburg facility. The hatchery will allow the Company to control the postlarvae (PL) supply while lowering the PL cost for not only the Iowa grow out facilities, but also for the other NaturalShrimp production facilities.

Texas

The production team temporarily cut back feeding the shrimp in the facility after a July 3rd Water Treatment Plant (WTP) fire damaged the electrocoagulation (EC) equipment and drum filters in that building until installing replacement treatment equipment. This slowed shrimp growth for about 2 weeks with production now back on track. The Company expects that production will increase each month reaching a weekly production of 6,000 pounds during the first quarter of 2023.

“We continue to focus on the retrofit of our production facility in Webster City and are encouraged by the confirmation of the adaptability of our treatment technology,” said Gerald Easterling, CEO of NaturalShrimp. “As we steadily increase stocking in the completed retrofits, we are confident production will rise.”

“We are pleased to announce that production has resumed using our emergency mobile treatment system in our Texas production facility with minimal delay, and we are in the final stages of assessing the cause of the fire early last month. Looking ahead, we expect to scale up regular production in the coming months. I look forward to announcing further updates in the months to come as we expect to be back on track and cash flow positive by the Company’s fourth quarter of 2022,” Easterling concluded.

https://ir.naturalshrimp.com/news-events/press-releases/detail/135/naturalshrimp-issues-iowa-and-texas-production-updates