The sale is aimed at addressing the land-based producer’s immediate cash needs without impacting its long-term strategy.
Massachusetts land-based salmon producer AquaBounty has announced it is seeking a buyer for its site in Rollo Bay, Prince Edward Island.
The company will retain its Bay Fortune facility on the island, according to a release issued on Tuesday.
AquaBounty acquired the Rollo Bay site in 2016 and developed it into a salmon broodstock and egg production facility. CEO David Melbourne said the company no longer requires the egg output from Rollo Bay in the near to mid-term and has sufficient capacity at its Bay Fortune hatchery to support its Ohio operations.
The sale, expected to close by the end of the year, is aimed at addressing AquaBounty’s immediate cash needs without impacting its long-term strategy. The company is currently building a new salmon farm in Pioneer, Ohio, which has faced higher-than-expected costs.
AquaBounty’s genetically engineered Atlantic salmon grow faster than wild salmon and are raised in land-based freshwater tanks to prevent environmental escape.
