AquaBounty Commences Commercial Harvest of Conventional Atlantic Salmon Raised in its Land-based Farm in Indiana
June 30 2020 - 8:30AM
AquaBounty Technologies, Inc. (NASDAQ: AQB), a land-based salmon
farming pioneer, has successfully commenced the commercial-scale
harvest of conventional Atlantic salmon raised at its first
farm in the United States.
This first harvest at its Albany, Indiana farm validates
AquaBounty’s land-based Recirculating Aquaculture System (RAS)
model as an efficient and sustainable way to raise Atlantic salmon.
AquaBounty strategically located its first U.S. farm within easy
reach of key U.S. markets to accelerate delivery of fresh,
nutritious Atlantic salmon to U.S. consumers. As part of this
effort, the company has established the necessary supply chain
connections to these key markets and is formalizing commercial
customer agreements.
“As the global population increases, we are seeking better ways
to efficiently feed a hungry world with a sustainable source of
nutritious food,” said AquaBounty’s CEO Sylvia Wulf. “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.”
With rising concerns about the safety and security of our food
sources, AquaBounty offers a consistent supply of salmon that is
raised domestically in the U.S. on a carefully monitored and
managed land-based farm where the fish grow, swim and school
naturally in a healthy, disease-free environment without the use of
antibiotics. AquaBounty salmon are raised efficiently and
compassionately by experienced specialists within a system that
conserves precious natural resources and operates with a lower
carbon footprint when compared to other salmon farming
practices.
The Indiana-based farm will ramp up monthly harvest of
conventional salmon throughout the summer and plans to reach 100
metric tons per month by early 2021. The annual capacity of the
farm is approximately 1,200 metric tons.
“AquaBounty’s success comes at a time when the global supply of
Atlantic salmon is facing a multitude of challenges,” continued
Wulf. “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.”
With this harvest of conventional Atlantic salmon underway,
AquaBounty will prepare for the first commercial harvest of its
proprietary, genetically engineered AquAdvantage Salmon in the
fourth quarter of 2020 at the Indiana Farm. This will be followed
by the first harvest of AquAdvantage salmon at its Canada-based,
Prince Edward Island Farm in the first quarter of 2021. AquaBounty
currently is the first and only provider of genetically engineered
Atlantic salmon approved by the U.S. Food and Drug Administration
and Health Canada.
About AquAdvantage Salmon:
The U.S. Food and Drug Administration and Health Canada approved
the AquaBounty AquAdvantage salmon as the first and only
bioengineered animal protein for human consumption. AquaBounty’s
AquAdvantage fish program is based upon a specific molecular
modification completed one time, 30 years ago to better protect the
fish during their early, most vulnerable stages of growth,
resulting in an estimated 70 percent increase in annual production
output for AquAdvantage versus conventional Atlantic salmon.
About AquaBounty:
AquaBounty Technologies, Inc. (NASDAQ: AQB) is a leader in
aquaculture leveraging decades of technology expertise to deliver
game changing solutions that solve global problems, while improving
efficiency, sustainability and profitability. AquaBounty provides
fresh Atlantic salmon to nearby markets by raising its fish in
carefully monitored, land-based fish farms through a safe, secure
and sustainable process. With land-based Recirculating Aquaculture
System farms located close to key consumption areas in Indiana and
Prince Edward Island, Canada, AquaBounty is raising nutritious
salmon that is free of disease and antibiotics, resulting in a
reduced carbon footprint and no risk of pollution to marine
ecosystems as compared to traditional sea-cage farming. For more
information on AquaBounty, please visit www.aquabounty.com or
follow us on Facebook, Twitter, LinkedIn and Instagram.
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 release are forward-looking statements,
including, but not limited to, statements regarding prospective
agreements with customers; anticipated growth in market size; the
expected benefits of AquAdvantage salmon and land-based production
to consumers and the environment, including consistency of supply,
disease- and antibiotic-free production, resource conservation, and
reduced carbon footprint; potential production capacity; and the
size and timing of future harvests. 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.
MEDIA CONTACT: John Curtis Fahlgren Mortine 208-472-0595
john.curtis@fahlgren.com
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