NaturalShrimp makes another acquisition, buying Hydrenesis Aquaculture
Dallas, Texas, U.S.A.-based NaturalShrimp will acquire longtime research and joint-venture partner Hydrenesis Aquaculture for USD 12.5 million (EUR 10.3 million).
Pompano Beach, Florida, U.S.A.-based Hydrenesis owns technological processes for wastewater treatment, desalination, and drinking water applications. In January, it announced a partnership with NaturalShrimp on a USD 25 million (EUR 20.4 million) recirculating aquaculture system land-based shrimp farm in northern Florida.
The purchase will be made with USD 5.5 million (EUR 4.5 milllion) in cash and USD 7 million (EUR 5.7 million) in NaturalShrimp stock, according to a press release.
“NaturalShrimp has been working with Hydrenesis since 2018 on several solutions for the industry with the team at Hydrenesis. We currently have trials on going in Norway and Australia. The company intends to immediately begin deployment of the technology in our hatchery and nursery systems,” NaturalShrimp President and CEO Gerald Easterling said. “We also believe that the Hydrenesis technology will have major impacts on disease control in salmon, barramundi, and tilapia farming segments. We expect to file additional patents around the expansion of the application and use of the combined EC and Hydrenesis technology.”
On 11 August, 2020, NaturalShrimp moved to purchase Alder Aqua, Ltd., an Iowa-based aquaculture company that produced barramundi under the VeroBlue brand. That acquisition closed in December, around the same time the company announced its intent to work with Waste to Energy+ and Ecoponex to build an organic shrimp farm in Puerto Rico using NaturalShrimp’s patented technology.
“We are excited for the next evolution of our relationship with NaturalShrimp,” Hydrenesis CEO David Antelo said. “We have been exploring the application of ‘Redox’ water treatment for several years. Our technologies’ ability to affect water chemistry and elevate water quality is proving to have a significant impact on growth and health metrics. NaturalShrimp's bold vision and rapid growth trajectory make them the ideal partner for extending commercialization of Hydrenesis technologies to additional species applications.”
Photo courtesy of NaturalShrimp