Rheinfelden AG – SwissShrimp AG issues 10,000 new nominal shares. The capital increase, together with technical innovations and a research project with the Zurich University of Applied Sciences, is intended to give the Aargau shrimp farm a fresh start.
The shareholders of SwissShrimp AG decided at a general meeting to increase the share capital by 10,000 new nominal shares. According to a media release, the company, which was founded in 2016, intends to use this to relieve a liquidity bottleneck. He had emerged after two difficult Corona years when a technical realignment was needed.
Since the start of rearing in Rheinfelden, SwissShrimp has not been able to achieve the targeted annual tonnage with the current team, according to a further communication to existing and interested investors. “We lacked specific knowledge in shrimp biology and recirculating aquaculture,” the company said in a statement to existing and interested investors.
Therefore, SwissShrimp 2023 won three experienced people for its project. After that, “handy measures” were implemented. All eight loop systems were completely emptied, refilled and restarted for “urgent plant design adjustments.” “This measure is showing success, but it also cost liquidity.”
After this learning phase of their pioneering project of antibiotic-free and sustainable farming of shrimps, the company could now start into a new era. It expects to break even in 2024. The annual tonnage is to be increased by making optimum use of the existing technical infrastructure in Rheinfelden. Thanks to the site partnership with Schweizer Salinen AG, the company uses waste heat from salt production to heat the aquaculture.
SwissShrimp is launching a comprehensive research project with the Zurich University of Applied Sciences. The goal is a stable, predictable production process from postlarva to harvestable shrimp, including its documentation. ce/mm