Land-based aquaculture company, AquaBounty, said its harvest of the firm’s genetically-modified salmon rose in its first quarter of 2022 by as much as 46 per cent over the previous quarter.
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 compared to conventional salmon. According to AquaBounty its genetically engineered (GE) fish has the potential to raise fish to market weight in less time than its competitors who are not raising GM fish.
“We continued to see growth in the commercial production of our GE Atlantic salmon in the first quarter, harvesting 133 tons of live weight salmon in the aggregate from our farms in Albany, Indiana and Prince Edward Island, Canada – a 46 percent improvement over the previous quarter,” said Sylvia Wulf, Chief Executive Officer of AquaBounty. “As we increase our harvest capacity, our customers are purchasing the entire output. This illustrates the strong demand for our product in the marketplace.”
Highlights of the report released last week include:
First Quarter 2022 Highlights and Recent Developments
- Harvested 133 tons of genetically engineered (“GE”) Atlantic salmon – an increase of 46 percent versus the previous quarter.
- Generated $963, 0000 in product revenue in the current quarter versus $74 thousand in the prior year quarter.
- Net loss of $5.1 million in the current quarter versus $4.2 million in the prior year quarter.
- Commenced critical pre-construction activities for the Pioneer, Ohio farm site.
- Celebrated the official groundbreaking of the Pioneer, Ohio farm with representatives from the State of Ohio, Williams County, and the Village of Pioneer.
Wulf also said that the latest development indicates that there is a strong demand for her company’s GE salmon.
AquaBounty is making progress in the construction of a 10,000 metric ton farm in Pioneer Ohio.
“With the completion of our groundbreaking ceremony in late April, we are set to begin the next phase of construction work in the near-term, with the continued expectation that the facility will be largely completed, and the stocking of salmon eggs will commence in late 2023,” Wulf said.
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