Land-Based Indoor RAS Mediterranean Marbled Spinefoot Commercial Yield 2026

Underwrite circular flow raceways rearing herbivorous culinary Mediterranean Marbled Spinefoot (Siganus rivulatus / Rabbitfish, achieving fast 9-month harvest cycles on 100% plant-derived microalgae feeds), wholesale pricing ($26.50/kg), and facility EBITDA.

Underwriting Assumptions

Annual Marbled Spinefoot Harvest (Metric Tonnes)

Wholesale Farm-Gate Spinefoot Price ($/kg)

Biological Feed Conversion Ratio (FCR)

Zero-Fishmeal Spirulina & Kelp Herbivore Feed ($/kg)

RAS Power, Oxygenation & Water Recirculation ($/yr)

Projected Economics

Gross Annual Marbled Spinefoot Sales

Annual Herbivore Feed Expenditure

Net Annual Operating EBITDA