Land-Based Indoor RAS Mediterranean Dusky Spinefoot / Siganus luridus Yield 2026

Underwrite circular flow raceways rearing herbivorous Mediterranean Dusky Spinefoot (Siganus luridus, reaching 500g culinary table size in 11 months on sustainable macroalgal feed), wholesale pricing ($27.50/kg), and facility EBITDA.

Underwriting Assumptions

Annual Dusky Spinefoot Harvest (Metric Tonnes)

Wholesale Farm-Gate Spinefoot Price ($/kg)

Biological Feed Conversion Ratio (FCR)

Sustainable Macroalgal / Ulva Pelleted Feed ($/kg)

Chilled RAS Power, Oxygenation & Labor ($/yr)

Projected Economics

Gross Annual Spinefoot Sales

Annual Feed Expenditure

Net Annual Operating EBITDA