Land-Based Indoor RAS Mediterranean Marbled Spinefoot / Siganus Yield 2026

Underwrite circular flow raceways rearing herbivorous Mediterranean Marbled Spinefoot (Siganus rivulatus, reaching 400g culinary table size in 9 months on 100% macroalgae diets), gourmet wholesale pricing ($22.50/kg), and facility EBITDA.

Underwriting Assumptions

Annual Siganus Harvest (Metric Tonnes)

Wholesale Farm-Gate Spinefoot Price ($/kg)

Biological Feed Conversion Ratio (FCR)

Sustainable Macroalgae Pelleted Feed ($/kg)

Chilled RAS Power, UV Sanitation & Labor ($/yr)

Projected Economics

Gross Annual Spinefoot Sales

Annual Feed Expenditure

Net Annual Operating EBITDA