AquaBounty Technologies, the first company in the world to produce genetically modified salmon, AquAdvantage, has put its Rollo Bay farm on Prince Edward Island, Canada, up for sale as part of a strategy to strengthen its financial balance and ensure long-term sustainability.
This farm, acquired in 2016 and used for the production of broodstock and eggs, will be sold before the end of the year. The sale management will be carried out by an investment banker.
The objective is to gain liquidity without compromising future productive capacity, which will maintain the necessary egg production for its Ohio farm through its Bay Fortune hatchery.
According to AquaBounty CEO, David Melbourne, "we continue to focus on securing financing for our short- and long-term needs, to be able to resume our growth strategy."
AquaBounty, he adds, continues to explore financing alternatives and expansion, facing various risks and challenges in a complex and regulated market.
Related
