We have received many questions about our recent announcement to build our first Harbor, a shrimp production facility, in Madison, South Dakota. There has been significant media coverage on the topic as well. We want to take the opportunity to clarify some points and answer questions that have been brought to our attention.
trū Shrimp is a technology-driven aquaculture company headquartered in Southwest Minnesota. It is owned and led by people committed to our region, state, and local communities. At a time when most new companies believe they need to locate in metropolitan areas, we fully intend to make trū Shrimp a success story for the greater Midwest, starting with rural locations like Balaton, Minnesota, our headquarters, and Madison, South Dakota, where we will build our first Harbor.
A Minnesota Pollution Control Agency (MPCA) Administrative Rule and the uncertainty and controversy around it caused the delay in constructing our first Harbor in Minnesota. We want it clearly understood by all stakeholders that trū Shrimp is strongly committed to meeting and exceeding environmental standards and protecting our valuable water resources, in any state we operate.
The issue is now acknowledged by the Minnesota Legislature and the MPCA. trū Shrimp has pledged to continue to work with the Legislature and state agencies. Our hope is that regulations will be updated to reflect modern technology and allow trū Shrimp to consider future Harbor sites in Minnesota while meeting the environmental standards and expectations we all support.
We at trū Shrimp are confident we can count on the support of local residents and leaders as we work to deliver a safe, high quality, and sustainable food product. We are committed to responsible production with the highest environmental standards, while generating the jobs and significant economic benefits our region wants and deserves.
President & Chief Executive Officer
The trū® Shrimp Company