Business
AquaBounty Begins Construction of State-of-the-Art, Land-based Salmon Farm with Groundbreaking Ceremony in Pioneer, Ohio
Community leaders, government officials, construction partner CRB, RAS technology leader Innovasea join AquaBounty executives to celebrate its new farm that
About this update from Aquabounty Technologies, Inc.
[{"type":"text","content":"Community leaders, government officials, construction partner CRB, RAS technology leader Innovasea join AquaBounty executives to celebrate its new farm that will supply a growing world with fresh, healthy and locally raised salmon\nMAYNARD, Mass., April 20, 2022 (GLOBE NEWSWIRE) -- AquaBounty (Nasdaq: AQB), a land-based salmon producer innovating to enhance productivity and sustainability in aquaculture, celebrated breaking ground today on the construction of its first 10,000 metric ton Atlantic salmon farm in Pioneer, Ohio. AquaBounty was joined at the groundbreaking event by partners CRB, Innovasea, local and government officials, and key Ohio economic development leaders. “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,” said Sylvia Wulf, Chief Executive Officer of AquaBounty. “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 expects the project cost to be in the range of $290 million to $320 million, including a reserve for potential contingencies of $30 million. The Company anticipates commercial stocking of salmon eggs to commence in late 2023. Once in full operation, the farm is expected to bring more than 100 new jobs to the region. CRB, an international leader in sustainable engineering, architecture, construction, and consulting solutions to the food and beverage and life sciences industry, will lead the design and construction of the facility for AquaBounty. Innovasea, a global leader in technologically advanced aquatic solutions for aquaculture and fish tracking, is designing the Recirculating Aquaculture Systems (“RAS”) technology for the new farm. \"AquaBounty's facility demonstrates the bold vision necessary to defeating food insecurity on a global scale,\" said Ryan Schroeder, President of CRB. \"We are extremely humbled and grateful that our integrated ONEsolution approach is playing a key role in uniting that vision with exe...