AquaBounty

AquaBounty Technologies, Inc. is a biotechnology company specializing in sustainable aquaculture, with a focus on genetically engineered (GE) Atlantic salmon. Founded in the early 1990s, AquaBounty has developed AquAdvantage salmon, which grows faster than traditional Atlantic salmon due to the addition of a growth hormone-regulating gene from Pacific Chinook salmon and a promoter gene from ocean pout. This allows the salmon to grow year-round instead of just in spring and summer. The company utilizes land-based Recirculating Aquaculture Systems (RAS) to raise its salmon, which are designed to prevent disease and protect wild fish populations.

AquaBounty's production method is more sustainable than traditional sea-cage farming, with a lower carbon footprint and reduced environmental impact. The company's RAS technology recirculates, cleans, and filters water, resulting in cleaner water and lower water usage. AquaBounty's salmon are raised without antibiotics and contaminants, providing a nutritious product that addresses food insecurity and climate change issues.

In November 2015, the US Food and Drug Administration (FDA) approved AquaBounty's application for the production, sale, and consumption of AquAdvantage salmon. Health Canada followed suit in May 2016, approving the GE salmon for sale in Canada. As of 2023, AquaBounty operates a 122,000-square-foot facility in Albany, Indiana, capable of producing 1,200 metric tons of salmon annually. The company is also developing a new large-scale commercial salmon farm in Pioneer, Ohio, expected to open in 2023.

For the year ended December 31, 2023, AquaBounty reported product revenue of USD 2.47 million, a decrease from USD 3.14 million in 2022. The company's net loss for 2023 increased to USD 27.56 million, compared to USD 22.16 million in 2022. As of December 31, 2023, AquaBounty had USD 9.2 million in cash, cash equivalents, marketable securities, and restricted cash.