AquaBounty Technologies, Inc. Environment and Climate Change Canada Approves Rollo Bay Facility for Commercial Production o...
April 02 2019 - 7:00AM
AquaBounty Technologies, Inc. (NASDAQ: AQB) (“AquaBounty” or the
“Company”), a biotechnology company focused on enhancing
productivity in the aquaculture market and a majority-owned
subsidiary of Intrexon Corporation (NASDAQ: XON), announces that
Environment and Climate Change Canada (ECCC) has approved the
Company’s Rollo Bay production facility for the commercial
manufacture and grow-out of AquAdvantage Salmon. After an extensive
and thorough evaluation, ECCC approved the production of
AquAdvantage Salmon at the site based on the physical, biological,
and operational measures in place or planned at the Rollo Bay
facility.
This announcement by ECCC, which came to the
same conclusion as the U.S. Food and Drug Administration after
assessing the Company’s Albany, Indiana, land-based production
facility, is the fifth regulatory determination of environmental
safety after similar findings in the U.S., Argentina, Brazil, and
China. The latter three countries reviewed the potential
environmental impacts before approving trials. Given AquaBounty’s
focus on producing an environmentally and economically sustainable
supply of high-quality seafood, this Canadian approval is another
confirmation that the Company is doing the right thing.
AquaBounty will begin stocking the Rollo Bay
production facility as soon as possible, with the first harvest of
AquAdvantage Salmon estimated for Q4 2020. This is similar to the
timing of the first harvest at the Company’s production facility in
Albany, Indiana.
Sylvia Wulf, Chief Executive Officer of
AquaBounty, stated: “We are pleased that Environment and Climate
Change Canada has determined that AquAdvantage Salmon is safe to
produce in our Rollo Bay production facility. We take biosecurity
and sustainability seriously, and our state-of-the-art
recirculating aquaculture system (RAS) design includes multiple and
redundant physical barriers to escape. With this final regulatory
approval now obtained, we anticipate hiring more people from the
community on Prince Edward Island to ramp up commercial production
of our salmon, joining our current staff of 25. I appreciate their
dedication and perseverance in enabling the Company to reach this
significant milestone.”
About AquaBounty
AquaBounty Technologies, Inc. is a publicly
traded aquaculture company focused on improving productivity and
sustainability in commercial aquaculture. The Company’s objective
is the application of biotechnology to ensure the availability of
high-quality seafood to meet global consumer demand-addressing
critical production constraints in the most popular farmed species,
including salmon, trout, and tilapia.
The Company’s AquAdvantage fish program is based
upon a single, specific molecular modification in fish that results
in more rapid growth in early development. With aquaculture
facilities located in Prince Edward Island, Canada, and Indiana,
USA, AquaBounty is raising its disease-free, antibiotic-free salmon
in land-based recirculating aquaculture systems, offering a reduced
carbon footprint and no risk of pollution of marine ecosystems as
compared to traditional sea-cage farming.
More information about AquaBounty is available
at www.aquabounty.com.
Inquiries:
AquaBounty Technologies,
Inc.Dave Conley, Corporate
Communications +1 613 294
3078
Forward-Looking
Statements:
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934,
each as amended. All statements other than statements of historical
fact contained in this press release are forward-looking
statements, including statements regarding the potential for hiring
additional employees and the potential for and timing of commercial
manufacture and grow-out of AquAdvantage Salmon, including stocking
of and harvesting from the Company’s production facilities.
Forward-looking statements may be identified with words such as
“will,” “may,” “expect,” “plan,” “anticipate,” “upcoming,”
“believe,” “estimate,” or similar terminology, and the negative of
these terms. Forward-looking statements are not promises or
guarantees of future performance and are subject to a variety of
risks and uncertainties, many of which are beyond our control,
which could cause actual results to differ materially from those
contemplated in these forward-looking statements. Forward-looking
statements speak only as of the date hereof, and, except as
required by law, we undertake no obligation to update or revise
these forward-looking statements. For additional information
regarding these and other risks faced by us, please refer to our
public filings with the Securities and Exchange Commission (“SEC”),
available on the Investors section of our website at
www.aquabounty.com and on the SEC’s website at
www.sec.gov.
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