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AquaBounty Technologies, Inc. (NASDAQ: AQB) is a pioneering company in the field of land-based aquaculture, dedicated to enhancing the productivity and sustainability of seafood farming through advanced technology. Established in 1991, AquaBounty operates from offices in Maynard, Massachusetts, USA, and Fortune, Prince Edward Island, Canada. The core mission of AquaBounty is to ensure a sustainable and reliable supply of high-quality Atlantic salmon, addressing critical production constraints in popular farmed species.
At the forefront of modern bioscience, AquaBounty utilizes innovative genetic and technological advancements to spur responsible aquaculture practices. The company's vertically integrated operations encompass everything from broodstock to grow-out, leveraging decades of expertise in fish breeding, genetics, and health and nutrition. AquaBounty’s land-based Recirculating Aquaculture System (RAS) farms, including facilities in Indiana and Prince Edward Island, are designed to prevent disease and protect wild fish populations, contributing to a reduced carbon footprint and eliminating pollution risks associated with traditional sea-cage farming.
Despite facing financial challenges, including a significant decline in revenue and an increase in net loss in recent quarters, AquaBounty remains committed to its mission. Recent developments include pausing construction on a new farm in Pioneer, Ohio, due to increased costs, and exploring alternative financing solutions. Additionally, the company announced a 1-for-20 reverse stock split to comply with Nasdaq Capital Market requirements and plans to sell its Indiana farm to bolster liquidity and finance the completion of the Ohio farm.
With ongoing efforts to expand broodstock and egg production capabilities, as well as exploring partnerships and new species, AquaBounty continues to lead in the blue revolution of sustainable aquaculture. The company is also strategically leveraging its operational expertise for international expansions, aiming to address global food insecurity and climate change issues.
For the latest updates on AquaBounty Technologies, please visit their official website or follow them on social media platforms like Facebook, Twitter, LinkedIn, and Instagram.
AquaBounty has officially commenced construction of its first 10,000 metric ton Atlantic salmon farm in Pioneer, Ohio, with a projected cost of $290 million to $320 million. This facility aims to enhance productivity in aquaculture and generate over 100 new jobs in the region. Expected to start commercial stocking by late 2023, the farm's Recirculating Aquaculture Systems (RAS) technology is designed to provide sustainable salmon farming, addressing food insecurity while reducing environmental impact.
AquaBounty Technologies, Inc. (Nasdaq: AQB) reported its financial results for Q4 and full year 2021, highlighting commercial scale harvests of genetically engineered Atlantic salmon.
In Q4, the company harvested 91 tons, generating $340,900 in revenue from 101,700 pounds sold. Total revenue for 2021 reached $1.17 million, a significant increase from $128,000 in 2020.
Operating expenses rose to $23.3 million, with a net loss of $22.3 million. The company holds $191.2 million in cash equivalents, enhanced by a public offering of common stock.
AquaBounty Technologies (Nasdaq: AQB) has commenced critical pre-construction activities for its 10,000 Metric Ton salmon farm in Pioneer, Ohio. Key milestones include setting surveyor benchmarks, constructing roadways, and preparing on-site energy infrastructure, with plans to begin construction following the spring thaw. The company is addressing potential supply chain challenges proactively by securing essential technology items. An official groundbreaking ceremony is forthcoming. AquaBounty aims to enhance aquaculture productivity while ensuring sustainable seafood production.
AquaBounty Technologies (AQB) reported significant advancements in 2021 towards its goal of sustainable salmon farming. The company initiated commercial production of its genetically engineered Atlantic salmon in Indiana and Prince Edward Island, fulfilling orders from seafood distributors. Plans for a new 10,000 metric ton facility in Ohio are underway, with an estimated cost of $290-$320 million, supported by bond financing. AquaBounty's robust balance sheet includes nearly $200 million in cash, positioning the company for growth amid rising demand for its products.
AquaBounty Technologies (NASDAQ: AQB) will participate in the H.C. Wainwright BioConnect Conference from January 10-13, 2022. The CEO, Sylvia Wulf, will present virtually on January 10, with the recorded presentation available after 7:00 a.m. ET. This presentation will remain accessible until April 10, 2022. AquaBounty is a leader in sustainable aquaculture, providing fresh Atlantic salmon through land-based farms designed to minimize environmental impact and disease risks. For further details, visit www.aquabounty.com.
AquaBounty Technologies announced the pricing of a public secondary offering of 11,200,000 shares at $2.10 each, with an option for underwriters to purchase an additional 1,680,000 shares. The selling stockholders are affiliated with Third Security, and AquaBounty will not receive proceeds from this offering. The offering is expected to close around November 23, 2021, subject to customary conditions. Oppenheimer & Co. Inc. and Lake Street Capital Markets are managing the offering.
AquaBounty Technologies, Inc. (AQB) announced a proposed underwritten public offering of 11,200,000 shares of common stock by certain selling stockholders affiliated with Third Security. An additional 1,680,000 shares may be purchased by underwriters. AquaBounty will not receive any proceeds from this offering, as the selling stockholders will bear all associated costs. The offering is subject to market conditions, and details are available in a prospectus supplement filed with the SEC.
AquaBounty Technologies reported its financial results for Q3 and the first nine months of 2021. The company harvested 84 tons of genetically engineered (GE) salmon, generating $402,000 in revenue. Year-to-date revenue reached $757,000, significantly up from $77,000 year-over-year. Operating expenses rose to $16.8 million, leading to a net loss of $16.3 million. AquaBounty is progressing on the construction of its Ohio farm, with estimated costs between $290-$320 million, and has initiated bond placement efforts to finance this project. Cash reserves stood at $197.8 million as of September 30, 2021.
AquaBounty Technologies (Nasdaq: AQB) is advancing its large-scale salmon farm project in Pioneer, Ohio, with engineering designs and permitting underway. The company anticipates breaking ground by the end of 2021, with commercial salmon stocking expected in 2023. The estimated project cost has increased to between $290 million and $320 million, influenced by rising material costs. AquaBounty plans to finance the project through a mix of tax-exempt and taxable bonds totaling $300 million, with underwriting assistance from Wells Fargo. The company also aims to enhance egg production capabilities significantly.
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