NATURALSHRIMP ACQUIRES HYDRENESIS AQUACULTURE
NaturalShrimp acquires Hydrenesis Aquaculture. NaturalShrimp, Inc. a Biotechnology Aquaculture Company that has developed and patented the first shrimp-focused, commercially operational RAS (Recirculating Aquaculture System), has closed the previously announced acquisition of the aquaculture assets of Hydrenesis Aquaculture, LLC for $12,500,000, consisting of $4,000,000 in cash and the balance due in NSI common stock, including a stock consideration payment at a price of $0.505 per share.
Hydrenesis, Inc. and Hydrenesis Aquaculture, LLC, headquartered in Pompano Beach, FL, are private technology owners and technology commercialisation companies that partner with leading IP holders and industry insiders to commercialise innovative technologies in major industry sectors.
Hydrenesis ‘Redox’ water treatment technologies have the ability to affect water chemistry and elevate water quality, and they are proving to be critical technologies for scaling hatchery and nursery systems and impacting growth and health metrics. Trials of the technology in Norway and Australia are showing preliminary efficacy in disease control in salmon, barramundi, and tilapia farming segments.
“The acquisition is expected to act as a major growth driver for NaturalShrimp, opening the door for expansion of our platform technologies into additional worldwide seafood markets, including salmon, barramundi, and other freshwater fish,” said Gerald Easterling, CEO of NaturalShrimp. “As long-term partners with Hydrenesis, we can immediately begin integration and deployment of the technology in our shrimp hatchery and nursery systems without interruption, and the acquisition is expected to be accretive to operations and earnings in fiscal year 2022.”
“Extending commercialisation of Hydrenesis technologies to additional species applications expands our addressable markets into the $17 billion global salmon market and other farmed freshwater fish. Demand for barramundi and tilapia continues to increase in the U.S., China, and other countries as consumers seek unique and sustainable fish options. The technology also expands our licensing opportunities, and we expect to file additional patents around the expansion of the application and use of the combined EC and Hydrenesis technology. Integrating Hydrenesis technology into our patented proprietary technologies will further advance our growth strategy and drive long-term value creation for our shareholders.”
David Antelo, CEO of Hydrenesis, Inc., commented:
“Global demand for solutions within the aquaculture industry have afforded companies the opportunity to become leaders of innovation. It takes focus and persistence to provide viable, sustainable, and profitable solutions. Hydrenesis has striven to find the right relationships and we couldn’t be happier to join NaturalShrimp. Its executives are already technology focused and they have a deep understanding of how every aspect of water quality is going to be key to maximising profitability in the indoor aquaculture sector. We’re looking forward to deploying our existing technologies together and to the joint development of exciting new technologies going forward that will lead the industry.”