AquaBounty Technologies announced on Tuesday, 30 June, it has begun its first commercial-scale harvesting of conventional Atlantic salmon raised at its U.S. farm.
The harvest took place at the company’s Albany, Indiana-based farm, a facility located in the center of the United States, giving AquaBounty "the ability to reach multiple large U.S. markets with ease while prioritizing farm-to-market speed," it said in a press release.
“As the global population increases, we are seeking better ways to efficiently feed a hungry world with a sustainable source of nutritious food,” AquaBounty CEO Sylvia Wulf said. “Land-based aquaculture is a reliable method for supplying fresh and healthy salmon. This harvest is the result of AquaBounty’s almost 30 years of experience in aquaculture and demonstrates our expertise in raising Atlantic salmon.”
Aquabounty will ramp up production of Atlantic salmon at the farm throughout the summer and plans to reach 100 metric tons of product per month by early 2021. Long-term, the company plans on hitting its annual production goal of approximately 1,200 metric tons.
As the company begins harvesting conventional salmon, the harvest of its proprietary, genetically-engineered AquAdvantage Salmon is on the horizon. The first harvest of that salmon is expected to take place in the fourth quarter of 2020 in Indiana. A harvest of AquAdvantage Salmon at its Prince Edward Island, Canada-based farm is expected to follow in early 2021.
“AquaBounty’s success comes at a time when the global supply of Atlantic salmon is facing a multitude of challenges,” Wulf said. “The AquaBounty strategy for farm design and operation is driven by concern for the health of our salmon. Our goal is the delivery of fresh, secure, and delicious salmon raised right here in the United States.”
Earlier this year, AquaBounty announced that its losses increased in 2019 to USD 13.2 million (EUR 11.7 million) from USD 10.4 million (EUR 9.2 million) in 2018. The company had USD 30.2 million (EUR 26.7 million) in total assets in 2019, an increase over USD 27.6 million (EUR 24.4 million) it had in 2018. The company also has had an increase in revenue of USD 186,738 (EUR 165,569), aided by the fact that it is now producing salmon.
In May, AquaBounty announced that it was partnering with MZ Group, a global leader in investor relations and corporate communications, to expand its comprehensive strategic investor relations and financial communications program. MZ North America will work with AquaBounty management to develop a capital markets strategy designed to increase the company’s visibility throughout the investment community, highlighting its proprietary technology in the farmed salmon industry.
Photo courtesy of AquaBounty
