Land-Based Indoor RAS Mediterranean Picarel / Spicara smaris Yield 2026

Underwrite circular flow raceways rearing prized culinary Mediterranean Picarel (Spicara smaris / Caramel, reaching 250g gourmet frying table size in 7 months), gourmet wholesale pricing ($18.50/kg), and facility EBITDA.

Underwriting Assumptions

Annual Picarel Harvest (Metric Tonnes)

Wholesale Farm-Gate Picarel Price ($/kg)

Biological Feed Conversion Ratio (FCR)

Sustainable Low-Cost Pelleted Aquafeed ($/kg)

High-Density RAS Power, Oxygen & Labor ($/yr)

Projected Economics

Gross Annual Picarel Sales

Annual Feed Expenditure

Net Annual Operating EBITDA