NaturalShrimp, Ecoponex agreement for renewable energy efficient farm
Thursday, October 15, 2020
NaturalShrimp agreed with Ecoponex Systems International, LLC to form a joint venture to utilize and combine the technology of NaturalShrimp with the innovative Renewable Energy Efficient Farm (REEF) technology developed and owned by Ecoponex.
Ecoponex shall contribute the funds necessary to construct, equip and startup operation of food production facilities developed under this company. Additionally, Ecoponex shall contribute its proprietary REEF technology to benefit the effectiveness and productivity of the new company. NaturalShrimp will license its proprietary shrimp growing technology, as well as include the right to utilize or license its water treatment systems and equipment developed by the company. A target closing date in the first quarter 2021 is anticipated.
“We are incredibly excited to have signed this Letter of Intent with Ecoponex,” said Gerald Easterling, CEO of NaturalShrimp. “We feel that their REEF technology strongly complements the aquaculture technology developed by our company and will help us bring additional capabilities to the market. Furthermore, the REEF model will provide environmental benefits for the climate and ultimately help us reduce our carbon footprint.”
Benjamin Brant, President/CEO of Ecoponex Systems International, LLC said that “by forming this new partnership the parties come together to create a very powerful and unique synergistic technology and business development platform that will give us a distinct advantage in the growing marketplace for urban agriculture and healthy fresh renewable food production. We are well positioned in several strategic markets to now offer our combined value propositions in the production and sale of organic seafood, particularly shrimp, fish and vegetables that should be a difference-maker in these target markets.”
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