Pioneer, Ohio, will be the new home to large-scale salmon farming.
AquaBounty Technologies, Inc. (NASDAQ: AQB) is a land-based aquaculture company utilizing technology, announced that it has identified Pioneer, Ohio, as the location for its newly planned genetically engineered salmon farm. In addition, the company is finalizing the design of its proprietary fishery in what will be 479,000 square feet of wall-to-wall fish farming.
The Company’s genetically engineered salmon program is based upon a single, specific molecular modification in salmon that results in more rapid growth in early development.
Construction will begin in late 2021. The company will begin stocking its commercial salmon in 2023.
The company has a mission of ensuring the availability of high-quality seafood to meet global consumer demand while addressing critical production constraints in the most popular farmed species.
Today, we’re seeing the loss of many fish species across the world, with mysterious deaths reported in mass due to unknown -- but potentially climate -- concerns.
AquaBounty raises salmon that are free of antibiotics and other contaminants. Their land-based Recirculating Aquaculture Systems (“RAS”) are designed to prevent disease and to include multiple levels of fish containment to protect wild fish populations while reducing both the carbon footprint and the risk of mechanically polluted marine-based ecosystems in comparison with those of traditional sea-cage farming.
“We are excited to announce Pioneer, Ohio as the location of our next farm,” said Sylvia Wulf, Chief Executive Officer of AquaBounty. “After an intensive analysis of the site data and the completion of substantial due diligence, Pioneer met our selection requirements. The Village of Pioneer, Williams County, the State of Ohio, JobsOhio and the Regional Growth Partnership have all been a pleasure to work with and are highly supportive of the economic benefits we plan to bring to the community.”
This farm will be AquaBounty’s first large-scale commercial facility with a projected production capacity of 10,000 metric tons. The company expects to invest over $200 million in the project. The farm itself is expected to bring over 100 new jobs to the Pioneer area.
“The state of Ohio currently is finalizing a package of economic incentives to support AquaBounty’s location at the Pioneer site, as the plan for the new farm is contingent upon approval of state and local incentives. Details of the site purchase have been agreed upon, and we expect to begin construction by the end of the year,” concluded Wulf.
“AquaBounty’s decision to choose Ohio for its first large-scale aquaculture facility is more evidence that Ohio is emerging from the pandemic stronger than before,” said J.P. Nauseef, JobsOhio president and CEO. “This investment will bring 112 new jobs to Northwest Ohio, further solidifying the region’s role as a national leader in agribusiness production and distribution.”