Tru Shrimp still hasn’t come up with the money it needs to build its proposed subsidized shrimp plant in Madison. But the Minnesota crustacean-cropper has the scratch to open up a research facility in Brookings:
The trū Shrimp Co. President and CEO Michael Ziebell and the Research Park at South Dakota State University CEO and Executive Director Dwaine Chapel announced Thursday a partnership they say further builds upon trū Shrimp’s commitment to South Dakota and the region.
In January 2020, trū Shrimp will take up residency in the Brookings Innovation Center located at the Research Park at SDSU.
…”Our first priority at the Research Park is commercialization of the medical-grade chitosan coproduct derived from the shrimp’s shell. The Tidal Basin technology leveraged in our system not only provides the highest quality water and perfect habitat for the shrimp, but also leads to a purity in our shells that we believe is unmatched,” Ziebell said [SDSU Marketing & Communications + staff, “Tru Shrimp Coming to Research Park at SDSU,” Brookings Register, 2019.12.13].
Tru Shrimp tells the Brookings Register that the company is still raising capital for the Madison production plant. The Madison City Commission this week accepted a water report that envisions among its scenarios putting a new 750,000-gallon water tower in the southeast industrial park instead of the originally planned northwest location, up where more people live, to accommodate the 300,000 gallons of water a day that Tru Shrimp says it will need to make yummy shrimp.
This whole fishy idea is starting to smell similar to Marion Robert Morrison’s movie “True Grift”.
I wonder if we can mix chitosan and hemp oil to make some wonder drug….
Uh oh: maybe Tru Shrimp is having trouble lining up investors because the smart money is all turning to lab-grown seafood.
Not to say anything bad about a fellow Republican, but I wonder if Gov D and Tony were slightly duped by this one.
I couldn’t get anything from your lab-grown seafood link but this one is fascinating.
~ Unlike Impossible Foods, BlueNalu is not creating a plant-based seafood alternative like vegan Toona or shrimpless shrimp. Instead, Cooperhouse and his team are extracting a needle biopsy’s worth of muscle cells from a single fish, such as a Patagonian toothfish aka Chilean sea bass, orange roughy and mahi-mahi.
But unlike today’s wild-caught or farmed fish options, BlueNalu’s version of seafood will have no head, no tail, no bones, no blood. It’s finfish, just without the swimming and breathing part. It’s seafood without the sea.
A white Carhartt and a pink crustacean…
I know that song.
SD should not trust unTru Shrimp. Madison ought not build anything for them until unTru Shrimp is building for itself.
It must be hard to attract investors when your business plan changes all the time. That doesn’t build confidence.
Good one, Marty Robbins, @ 20:17
What’s amazing to me is that they’re still getting investors, considering that they screwed Luverne, got $6.5 million from SD for the Madison project and took it back to Ballaton without lifting a shovel in Madison, and now SDSU? Wow.