Business
AquaBounty Technologies Announces Financial Results for the Quarter and Six Months Ended June 30, 2021
Successful First Harvests of GE Salmon Completed and Site Selected for First Large-Scale Farm MAYNARD, Mass., Aug. 04, 2021 (GLOBE NEWSWIRE) -- AquaBounty
About this update from Aquabounty Technologies, Inc.
[{"type":"text","content":"Successful First Harvests of GE Salmon Completed and Site Selected for First Large-Scale Farm\nMAYNARD, Mass., Aug. 04, 2021 (GLOBE NEWSWIRE) -- AquaBounty Technologies, Inc. (Nasdaq: AQB) (“AquaBounty” or the “Company”), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, has provided financial results for the second quarter and six months ended June 30, 2021. Second Quarter 2021 Highlights Successfully completed the first commercial scale harvests of it genetically engineered (“GE”) Atlantic salmon from both its Indiana and Rollo Bay farm sites in June.Selected Pioneer, Ohio as the location for its next large-scale farm with a planned annual production capacity of 10,000 metric tons. Construction is slated to begin within the next six months and the Company anticipates commercial grow-out to commence in 2023.Announced the regulatory approval of the Company’s GE Atlantic salmon by Brazil’s National Biosafety Technical Commission (CTNBio).Elected Gail Sharps Myers—EVP, Chief Legal Officer, Chief People Officer and Corporate Secretary for Denny’s Corporation—to AquaBounty’s Board of Directors at the Annual Shareholders’ Meeting.Appointed Melissa Daley as the Company’s Chief People Officer. Management Commentary “The second quarter of 2021 was marked by two significant operational milestones for the Company, including the first commercial harvests and sales of our GE salmon from both our Indiana and Rollo Bay farm sites, and the selection of Pioneer, Ohio as the site location for our large-scale farm,” said Sylvia Wulf, Chief Executive Officer of AquaBounty. “Our next farm will have approximately eight times the planned capacity of our Indiana location. We will continue to provide updates as we gain more specificity on the timelines for permitting and construction, with the commencement of grow-out targeted in 2023. “In both Indiana and Rollo Bay, our first commercial harvests have been a resounding success, with orders in place for the entire output from our customers who are now introducing the salmon in their markets. We have experienced challenges with the availability of personnel and the age of the technology at our Indiana farm, however we are addressing these issues and incorporating insights gained into the design of our large-scale farm. We will continue to ramp up our harves...