Former land-based salmon producer AquaBounty Technologies is considering a sale of its unfinished recirculating aquaculture system (RAS) facility in Pioneer, Ohio, after receiving a non-binding letter of interest from a potential buyer.
The company said in its 2025 annual report that the offer is under review. The Pioneer site is now AquaBounty’s primary remaining asset.
Construction of the facility began in early 2022, but work was halted in June 2023 after costs escalated. AquaBounty said it had invested about USD 145 million in the project, while total development costs were estimated at USD 485 million to USD 495 million.
The company estimates roughly USD 400 million would be required to complete the facility according to its original design and replace equipment already sold.
AquaBounty previously sold its land-based salmon farms in Indiana and Prince Edward Island after running out of cash. The PEI facility was acquired by Cooke Aquaculture.
The company said it is exploring strategic alternatives for the Ohio project, including a potential sale.