Industry – July 10, 2026
AquaBounty: raises $2.25m after shutting down salmon production
AquaBounty Technologies, the land-based salmon producer that ceased operations after running out of money, has raised $2.25 million through a private placement of Series B preferred shares.
The company said net proceeds will be used for working capital and general corporate purposes. Series B shares carry priority over common stock in dividends and liquidation distributions, with dividends accruing at 18% annually on a liquidation value of $20.60 per share.
AquaBounty produced its genetically modified Atlantic salmon — engineered for accelerated growth — at a 1,200-tonne RAS facility in Albany, Indiana, and two hatcheries in Prince Edward Island, Canada.
The company halted construction of a 10,000-tonne RAS farm in Pioneer, Ohio, after costs surged. It then sold the Albany facility to Superior Fresh for $9.3 million and transferred its Canadian hatcheries and a semi-complete Prince Edward Island site to Cooke Aquaculture for $5.2 million.
The Cooke deal included intellectual property rights over the transgenic salmon. Cooke has said it has no intention of producing GMO fish.
In its annual report published in March, AquaBounty said it had received a non-binding letter of intent to purchase the incomplete Pioneer, Ohio facility and was evaluating the offer.
