AquaBounty sells its Indiana farm to another RAS producer

AquaBounty RAS farm, Albany, Indiana

AquaBounty Technologies has finally sold its land-based farm in Albany, Indiana after putting it on the market earlier this year.

The US $9.5m (£7.5m) cash deal also includes some equipment from the company’s Ohio site.

The buyer is the Wisconsin company Superior Fresh which, unusually, combines salmon farming with growing organic leafy greens such as lettuce.

AquaBounty announced in February that it was putting the Indiana farm up for sale, to raise capital, describing the move as a difficult decision.

In May the company reported a 2024 first quarter net loss of US $11.2m (£8.8m) against $6.5m (£5.1m) in Q1 2023. Costs for AquaBounty’s farm in Pioneer, Ohio – currently under construction – have increased dramatically, adding to the company’s need for capital.

It is thought that part of the proceeds will be used to reduce a long term loan. The sale is expected to be completed over the next few weeks.

AquaBounty has developed a strain of genetically modified (GM) Atlantic salmon, under the brand name AquAdvantage. The GM fish include genes from other salmon species to make them faster growing and more robust.

In contrast, Superior Fresh is clear that its salmon are non-GM and the company does not even incorporate GM ingredients in its feed.

Superior Fresh employee, aquaponics farm

The company’s salmon are grown on land using freshwater tanks in what is an almost closed system, with 99.9% of water treated and recycled within the facility.

The fish waste is put to good use through a nutrient recycling process. Using a microbial biome that mineralises the waste and releases its nutrients, the waste is repurposed and is used as fertiliser for the crop of green vegetables.

In addition to rigorous hygiene practices, the company says, a series of filters and disinfectants are employed to keep food clean.

Superior Fresh also says that all of its salmon is moved over land, incurring a smaller carbon footprint than salmon transported by air.

Superior Fresh salmon farm, Wisconsin

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