Wednesday, March 29, 2023 10:28:16 AM
https://www.seafoodsource.com/news/aquaculture/shrimp-farming-taking-off-in-the-us?fbclid=IwAR3KyQu_85ur2ps6leyozChoKze1SLS9AspgU1RR2NDPCpFVziGOyWjTxXc
"In the U.S. shrimp-growing hub of Texas, Trans American Aquaculture is seeking to rehabilitate and reactivate an 1,880-acre shrimp farm shuttered for more than a decade. Located in Rio Hondo, Texas, U.S.A. in the Rio Grande Valley, the farm was purchased in 2017 by the Granda family – transplants from Ecuador with a long history in shrimp farming. According to Trans American Chairman and CEO Adam Thomas, who is married to a member of the Granda family, the company is now looking for funding to convert the purchase from its current set-up as a shrimp genetics research facility into a commercially- productive farm.
“Where we are in the southernmost part of Texas, we’re able to do two full cycles of shrimp harvests per year. We’re in our fifth and sixth generations of genetic lines right now. We feel it’s really a good time for us to start to tap into the public markets to get the funding for the growth that we’re looking to achieve over the next few years to really take the farm into full-bore production,” Thomas said.
To facilitate its public listing, Trans American conducted a reverse merger with a publicly traded company, allowing it to tap into a larger source of funding. Thomas said the company is seeking an initial USD 2 million (EUR 1.9 million) investment that will see it through its first harvest on half of the farm’s acreage. From there, the firm will need another USD 5 million (EUR 4.6 million) to expand into the southern 650 acres of the farm and complete intensification and equipment upgrades. That should get the farm to 11 million to 12 million pounds of production annually, Thomas said.
“I can sell [our total estimated production] to any of a number of distributors. I’ve had contacts who have said that they will buy everything we have up to two million pounds – that’s been two independent distributors. So that gave us confidence to go full-bore on this project,” Thomas said. “With HEB specifically, you say it’s from Texas and they want it. I think they’ll buy pretty much all the farmed shrimp that they can get their hands from the state of Texas. With Whole Foods, it’s a step above in terms of quality, but that’s a potential opportunity as well, because we use [Best Aquaculture Practices-certified] feed from Cargill and there’s no live animal products in it.”
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM