SHMP stock closed up over 12% on October 22, 2019, after the company announced news on its next generation electrocoagulation units.
NaturalShrimp (OTCQB: SHMP) and F&T Water Solutions, the aquaculture companies that developed and patented the first commercially-operational RAS (Recirculating Aquaculture System) for shrimp, announced today the final testing of two additional next generation electrocoagulation (EC) systems for installation at its pilot plant in La Coste, Texas.
NaturalShrimp, Inc. witnessed successful final testing of the two new EC systems on October 17, 2019 at the IP Automation Inc. facilities located in Colorado Springs, Colorado. In addition, NaturalShrimp has ordered three smaller EC systems to provide isolated filtration of the pilot plant nursery tanks. The installation of these two new EC systems along with the three recently ordered EC systems will bring the total operating EC systems at the La Caste pilot plant to nine EC systems (four smaller ones for the nursery tanks and five larger ones for the grow-out tanks).
Over the last 18 months, NaturalShrimp has made a capital equipment investment of more than $600,000 on EC systems.
Tom Untermeyer, Chief Technology Officer of NaturalShrimp, commented: “These third generation EC units will work alongside the other first and second generation EC systems already in use on site at the pilot plant as part of the patented filtration system. Although the first and second generation EC units continue to perform well, and as expected, this third generation design includes some additional automation features as we continue to make improvements.”
SHMP stock had a big move on October 22, 2019. The retracement level to watch is $0.1042 which is Supertrend buy signal level. A break below this level would negate the buy signal.
Disclosure: We do not hold any position in SHMP stock.