Dallas, Texas, U.S.A.-based NaturalShrimp, which operates two recirculating aquaculture systems growing shrimp in the U.S. states of Texas and Iowa, has hired Marco Van Den Berg as vice president of sales.
In his new role, Van Den Berg will oversee the company’s sales and marketing activities in North America, overseeing market expansion, sales team development, brand awareness, and community impact. Previously, Van Den Berg worked as a management consultant to several U.S. aquaculture companies and served as commercial director for Lumar Seafood International.
“Marco brings a wealth of experience in sales and marketing along with a comprehensive understanding of the seafood marketplace,” NaturalShrimp CEO Gerald Easterling said. “His leadership skills and experience complement our executive team. Marco will play a critical role in enhancing our brand nationally as we continue to introduce our shrimp products to the market and provide ongoing best-in-class service to our distributor and processor partners. He will also lead our efforts exploring international expansion opportunities and partners.”
The company, which is traded publicly on the Over-The-Counter Markets Group under the symbol SHMP, recently closed a registered direct offering of 7.5 million shares of its common stock to a single investor for USD 0.40 (EUR 0.33) per share, for a total gross proceed of USD 3 million (EUR 2.6 million). In its press release, the company said it has now raised USD 18 million (EUR 15 million) through its S-3 fundraising round, selling shares at an average price of USD 0.525 (EUR 0.45) per share. The company’s stock is currently trading at USD 0.36 (EUR 0.31).
“The company intends to use the proceeds in connection with transactions related to previously announced letters of intent and plant expansions and retrofits at its NaturalShrimp Iowa location,” it said.
NaturalShrimp also recently announced it had filed a new patent application with the U.S. Patent and Trademark Office. The patent, which enhances a previous company patent titled “Recirculating Aquaculture System and Treatment Method for Aquatic Species,” is designed to enhance the company’s electrocoagulation technology.
Additionally, NaturalShrimp has moved its corporate headquarters to a new office in Dallas, Texas “to accommodate the rapid growth of the business, including a new test kitchen to support ongoing sales and marketing efforts.”
The new layout includes additional office space for employee expansion, as well as a test kitchen and dining area.
“This location will support NaturalShrimp’s anticipated future growth and provide greater capacity for sales and marketing activities with the inclusion of the test kitchen,” Easterling said. “As we move into commercialization, the kitchen will be a unique advantage as we can serve prospective customers in a natural dining environment that showcases our product. With sufficient employee space to support national production site expansions, and the benefit of an onsite kitchen, we believe our new headquarters will help NaturalShrimp grow to the next level.”
Photo courtesy of NaturalShrimp
