LA COSTE, Texas, Sept. 19, 2016 /PRNewswire/ -- NaturalShrimp Incorporated (SHMP) (the "Company"), a global eco-friendly producer of shrimp grown in technologically unique indoor saltwater facilities, has signed a landmark agreement with a Fortune 500 company and Largo, FL-based F&T Water Solutions, LLC ("F&T) for advanced development of the Company's proprietary technology.
Under the agreement, signed September 4, 2016, the Fortune 500 Company will proceed immediately with a detailed engineering evaluation of the system located in La Coste, Texas, resulting in a replicable design that can be scaled to multiple locations according to a roll-out plan that will be announced during the early part of the first quarter of 2017. A primary component in the system is being provided by F&T. The audit will be finished within 45 days and will provide the blueprint for a pilot version of the system, which will begin construction in October. When the pilot begins operation, expected within 6 months, the Company will build out full-sized, totally sustainable shrimp facilities in numerous locations across the United States and around the world. The goal is to create facilities with "zero footprint" on the surrounding environments.
NaturalShrimp President, Gerald Easterling, commented, "Over the last decade and a half, we have evolved the only system that allows commercial quantities of pristine, healthy shrimp to be grown in saltwater facilities on land. This agreement will enable us to move from early-stage operation to a full national and international roll-out of our technology for raising antibiotic-free aquatic species. This agreement is the product of months of study of our technologies, and the corresponding results will allow us to leapfrog from being a single-location producer to being a major supplier of shrimp and, potentially, other aquatic species."
It's expected that the Fortune 500 Company and a third-party outside financial group will finance the audit, the pilot, and the national and international roll-out on a leaseback basis. The Company will own the facilities and technologies, and all patents and trade secrets are protected by nondisclosure agreements.
Mr. Easterling also added, "Expanding from one location in Texas to national and worldwide operations with these groups is extremely substantial. The oceans of the world are over-fished and abused. Our technology, as streamlined and perfected by our partner engineers, will produce healthful, tasty and plentiful shrimp and other aquatic species for people around the world, with no ecological stress on oceans, lakes, rivers or other bodies of water. We will strive to be the cleanest agricultural operator in the world."
More details of the agreement can be found on Form 8-K that was filed with the Securities and Exchange Commission on September 12, 2016 or by accessing the following link at https://www.sec.gov/Archives/edgar/data/1465470/000165495416002128/shmp_8k.htm