Maynard, Massachusetts, U.S.A.-based AquaBounty broke ground on the construction of its land-based, recirculating aquaculture system (RAS) Atlantic salmon farm in Pioneer, Ohio, U.S.A. on Wednesday, 20 April.
The company is planning to raise up to 10,000 metric tons (MT) of genetically-modified Atlantic salmon annually at the facility once it is constructed and operating at full capacity. It said it expects to begin stocking the farm by late 2023.
“We are pleased to have officially begun building our next-generation, highly productive facility in Pioneer, Ohio, which will serve as a model for the aquaculture industry and our continued expansion,” AquaBounty CEO Sylvia Wulf said at the ceremony, according to a company press release. “This milestone comes after many dedicated teams completed extensive scientific investigation, analysis, testing, modeling, and regulatory review. We also celebrate with the Village of Pioneer, Williams County, the Regional Growth Partnership, and the State of Ohio, which will benefit from the introduction of a new industry with new jobs and new opportunities in Northwest Ohio.”
AquaBounty, which is the only company to have approval from the U.S. Food and Drug Administration and Health Canada to sell genetically modified salmon, which it markets under the brand name AquAdvantage Salmon, has estimated the cost of the new facility at USD 290 million to USD 320 million (EUR 258 million to EUR 284 million), including a reserve for potential contingencies of USD 30 million (EUR 26 million). Wulf said it will aid AquaBounty in achieving its goal of offering “a consistent supply of salmon raised in the U.S. in a safe, secure, and sustainable way."
“As the global population increases, we are working to efficiently feed a hungry world with a sustainable source of nutritious food,” said Wulf. “The RAS technology and overall facility design combined with the proximity to major markets will continue to generate a lower carbon footprint compared to flying salmon produced overseas, as well as ease pressure on wild salmon stocks, while using natural resources responsibly and sustainably.”
Engineering firm CRB has been hired to lead the design and construction of the facility for AquaBounty. Aquaculture technology firm Innovasea is designing the farm’s recirculating aquaculture system.
"AquaBounty's facility demonstrates the bold vision necessary to defeating food insecurity on a global scale," CRB President Ryan Schroeder said. "We are extremely humbled and grateful that our integrated ONEsolution approach is playing a key role in uniting that vision with execution methods designed to deliver projects on schedule, on budget, and with high quality."
Innovasea CEO David Kelly also attended the event, where he called the project “an important milestone in the advancement of aquaculture in the United States.”
“Innovasea is excited to lend our RAS expertise to the project,” Kelly said. “AquaBounty’s state-of-the-art facility will go a long way to proving that commercial land-based aquaculture can be scaled up and remain both profitable and sustainable.”
AquaBounty’s stock is traded publicly on the Nasdaq Stock Exchange under the symbol AQB. Its share price is down 28 percent year-to-date to USD 1.61 (EUR 1.48). It hit a five-year high of USD 12.07 (EUR 11.13) in January 2021.
Photo courtesy of AquaBounty
