DALLAS, TX — NaturalShrimp, Inc. (OTCQB: SHMP), a Biotechnology Aquaculture Company that has developed and patented the first shrimp-focused, commercially operational RAS (Recirculating Aquaculture System), announced its joint venture, NaturalShrimp Florida, has signed a letter of agreement with the Jefferson County, Florida Board of County Commissioners (“The County”) to lease or convey a ten acre tract of land for the development up to a 250,000 square foot inland shrimp production facility in Florida, and help to identify and pursue up to $25 million in available funding grants.
Under the terms of the agreement, the Board will lease or convey the property in the Jefferson County Industrial Park located South of Monticello, Florida. The Property is suitable for NaturalShrimp Florida’s business needs as it can potentially accommodate up to a 250,000 square foot shrimp production facility, is located on a major 4-lane State highway with convenient access to Interstate 10 and is located within the County Opportunity Zone. The County also agrees to provide grant writing services to identify and pursue all available grants to fund infrastructure, improvements, and equipment necessary for operation of NaturalShrimp Florida’s business, such grant amounts not to exceed, in the aggregate, $25 million dollars.
The County and NaturalShrimp Florida also agreed to jointly coordinate with local high school and college workforce programs to provide training and support for prospective employees of NaturalShrimp Florida operations.
“After extensive due diligence, the site in Jefferson County, Florida is an ideal location for our next shrimp facility, and we are privileged to be working with the County to advance our development plans,” said Gerald Easterling, CEO of NaturalShrimp. “This site will allow us to build a highly scalable, capital efficient new facility to meet increasing long-term growth targets. The new facility will enable us to effectively scale up production output predicated upon growth in demand for NaturalShrimp within the large Florida market. We look forward to working closely with the County in seeking an aggregate funding target of $25 million to support the build-out of the facility and engagement with local educational workforce programs to support local employment.”
NaturalShrimp has also signed a letter of intent with the Water Quality Association (“WQA”) for the development of an advanced education, training, and certification program for water treatment professionals that will expand and support the number, and quality, of skilled aquaculture workers in Florida. The Company will work with the WQA, various Florida state colleges and other higher education institutions to establish and grow the program, and the WQA will work collaboratively with others in Florida’s K-12 school systems to help establish early awareness, talent pipelines, and credentialed opportunities for younger workers through on-the-job experiences and pre-apprenticeship programs.
Easterling added, “The size and scope of our planned Florida facility will require many skilled aquaculture workers that are qualified to operate next-generation equipment that require the highest water quality standards with the lowest environmental impact. Training and credentialing water treatment professionals will not only provide the talent we need but will also help to boost workforce development in the region. We are excited to begin development of this new program and introducing young people to aquaculture.”
Luke Timmons, COO of Hydrenesis Inc., commented, “Hydrenesis is eager to break ground on a brand-new NaturalShrimp Facility, as well as continuing to grow the new relationship with Jefferson County and the surrounding community. We look forward to building the certification-based training for Natural Shrimp and aquaculture trades with the WQA and State of Florida Education System.”
Tanya Lubner, Director of Professional Certification and Training for the WQA, added, “WQA is excited to help expand training and career opportunities related to water quality. Water is a critical component of our daily lives and we’re pleased to support the growth of professionalism, technologies and efforts that can help use this precious resource more sustainably.”
About The Water Quality Association
The Water Quality Association (WQA) is a not-for-profit association for the residential, commercial, and industrial water treatment industry. WQA represents more than 2,500 member companies around the globe. Our membership is comprised of equipment manufacturers, suppliers, dealers and distributors of water quality improvement products and services. WQA proudly serves as an educator of water treatment professionals, certifier of water treatment products, public information resource and voice of the water quality improvement industry.
About Hydrenesis, Inc. and Hydrenesis Aquaculture, LLC
Hydrenesis, Inc. and Hydrenesis Aquaculture, LLC, headquartered in Pompano Beach, FL, are private technology owners and technology commercialization companies that partner with leading IP holders and industry insiders to commercialize innovative technologies in major industry sectors.
NaturalShrimp, Inc. is a publicly traded aquaculture company, headquartered in Dallas, with production facilities located near San Antonio, Texas and Webster City, Iowa. The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp. For more information visit www.naturalshrimp.com.
This press release contains a number of forward-looking statements that reflect management’s current views with respect to future events and financial performance. Forward-looking statements are projections in respect of future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements include statements regarding the intent, belief or current expectations of us and members of our management team, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks set forth in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021, any of which may cause our company’s or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in our forward-looking statements.