AquaBounty Technologies

What AquaBounty Technologies does

AquaBounty Technologies, Inc. is a U.S.-listed aquaculture biotechnology company (NASDAQ: AQB) founded in 1991 that developed AquAdvantage salmon — a genetically engineered Atlantic salmon carrying a Chinook salmon growth-hormone gene under an ocean pout promoter, the first FDA-approved GE animal for human consumption (2015). Its technical platform combines the proprietary transgenic construct with land-based recirculating aquaculture system (RAS) infrastructure, enabling salmon to reach market size in approximately half the time of conventional salmon, with year-round production and reduced marine environmental impact. Historically, the company pursued a vertically integrated, capital-intensive operating model — operating farms in Indiana, PEI, and an unfinished Pioneer, Ohio flagship facility — distributing fresh salmon to wholesalers and foodservice operators in the U.S. and Canada.

The company's financial position has deteriorated sharply: all fish-farming operations were ceased in December 2024, Canadian operations were divested to a Cooke subsidiary for $2 million in March 2025, headcount has been reduced to three employees (March 2026), and the $485–495 million Pioneer, Ohio project (30% complete, $145 million sunk, ~$400 million additional capex required) is held for sale. The company reported an $18.5 million net loss for full-year 2025 with an accumulated deficit of approximately $388 million and cash of roughly $501,295 as of early 2026 (improved to $951,000 by September 30, 2025). Revenue has collapsed following the production shutdown and the company is now structured around asset divestiture, IP monetization, and ongoing financial restructuring — including two recent capital raises ($4M exempt offering in November 2025 and a $4.3M note-exchange/Series A Preferred financing in April 2026) — while exploring strategic alternatives for its permitted Ohio land and AquAdvantage salmon technology.

Name

AquaBounty Technologies

Legal name

AquaBounty Technologies, Inc.

Website

https://aquabounty.com

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

AquaBounty Technologies is a U.S.-listed aquaculture biotech that developed FDA-approved genetically engineered AquAdvantage salmon and land-based RAS farms; it ceased all fish-farming in late 2024, divested Canadian operations, and is now restructuring while exploring strategic alternatives for its IP and Ohio facility.

Ownership category

akta.pro rank

Product category

Aquaculture Biotechnology

NAICS

Finfish Farming and Fish Hatcheries (112511), Aquaculture (11251)

SIC

Agricultural Prod-Livestock & Animal Specialties (200), Food And Kindred Products (2000)

akta.pro primary industry

Recirculating Aquaculture Systems (RAS) & Land-Based Farming (AFAEAAAG)

akta.pro secondary industries

Finfish Farming (e.g., salmon, tilapia, catfish) (AFAEAAAA), Aquaculture Processing & On-Farm Value-Add (primary handling, icing, packing) (AFAEAAAN)

Keywords

• Genetically engineered salmon
• Land-based aquaculture
• Aquaculture biotechnology
• Recirculating aquaculture systems
• Sustainable fish farming

Headquarters

HQ city

Maynard

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Others

Revenue model

1. Salmon Production and Sales: Previously generated revenue through production and sale of genetically engineered AquAdvantage salmon. Company ceased all fish farming operations in December 2024, eliminating this revenue stream.
2. Asset Divestiture: Company is selling assets including the Pioneer, Ohio facility and sold AquaBounty Canada operations to Cooke subsidiary for $2 million in 2025.
3. Securities Offerings: Company completed $4.3 million note exchange and preferred stock sale in April 2026, exchanging $4 million in senior notes plus $315,616 in accrued interest for Series A Convertible Preferred Stock.

Distribution channels2 records

Marketing channels4 records

Core offering

AquaBounty Technologies develops, grows, and sells AquAdvantage salmon — a genetically engineered Atlantic salmon that reaches market size in approximately half the time of conventional salmon — produced in land-based recirculating aquaculture system (RAS) facilities. Its proprietary biology combines a Chinook salmon growth hormone gene with an ocean pout promoter for year-round growth, and its closed-loop RAS infrastructure enables sustainable, antibiotic- and pesticide-free production. Following severe financial distress, the company ceased all fish farming operations in December 2024 and is now evaluating strategic alternatives, including potential licensing of its permitted land-based aquaculture technology and AquAdvantage salmon IP.

Product overview

AquaBounty Technologies is a biotechnology company operating land-based aquaculture farms that produce the AquAdvantage salmon, a genetically engineered Atlantic salmon approved for U.S. consumption in 2015. The company combines recirculating aquaculture system (RAS) technology with advanced genetics to grow seafood more efficiently and sustainably. The product portfolio consists of the AquAdvantage salmon as the core bioengineered product and land-based farming infrastructure as the production delivery system.

Differentiator

Problem solved

Functional benefit

Brands

• AquAdvantage: Genetically engineered faster-growing Atlantic salmon developed by AquaBounty, approved for US consumption in 2015

Products and services

• AquAdvantage Salmon Genetically engineered Atlantic salmon incorporating a Chinook salmon growth hormone gene and an ocean pout promoter, enabling year-round growth and reaching market size in approximately half the time of conventional Atlantic salmon. Marketed as a fresh, sustainably raised salmon for retail grocers, foodservice operators, and seafood distributors; production ceased company-wide in December 2024.

Quantifiable outcome

• Reaches market size in half the time of conventional salmon
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators11 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Atlantic Sapphire: Land-based salmon RAS operator that pioneered large-scale recirculating aquaculture systems in the U.S. (Miami, Florida facility). Directly comparable to AquaBounty's land-based salmon strategy and has experienced similar cost-overrun and scaling challenges, making it the most relevant operational peer.
• Pure Salmon: Global land-based salmon RAS platform backed by 8F Asset Management, developing multiple large-scale facilities worldwide. Compares directly to AquaBounty in pursuing land-based salmon farming using RAS technology and has been an active consolidator in the category.
• Salmon Evolution: Norwegian land-based Atlantic salmon producer operating a hybrid RAS/flow-through system at its Indre Harøy facility. Pursues the same land-based salmon farming thesis as AquaBounty, providing a directly comparable operational and strategic benchmark.
• Andfjord Salmon: Norwegian land-based salmon producer using a flow-through water system at Kvalnes, Andøya. Comparable to AquaBounty as a land-based salmon operator pursuing controlled-environment production to mitigate biological and environmental risks of conventional net-pen farming.
• Nordic Aquafarms: Land-based salmon RAS developer with projects in Norway and the United States (California, Maine). Pursues the same U.S. and European land-based salmon opportunity and has experienced permitting and execution challenges similar to AquaBounty's Ohio project.
• AquaMaof Aquaculture Technologies: Israel-based RAS technology provider designing and building land-based aquaculture facilities globally. Comparable to AquaBounty as a RAS-focused aquaculture technology and infrastructure provider, though AquaMaof operates as a turnkey technology vendor rather than a salmon producer.

Broad incumbents

• Cooke Inc. Canadian family-owned seafood company and one of the world's largest salmon farming operators, whose subsidiary acquired AquaBounty Canada's operations in March 2025 for $2 million. Broad incumbent in conventional and emerging aquaculture with direct knowledge of AquaBounty's asset base.
• Mowi ASA: World's largest Atlantic salmon producer with operations across Norway, Scotland, Chile, Canada, and Ireland. Broad incumbent relevant to AquaBounty as a benchmark for global salmon supply economics and potential strategic acquirer of land-based technology and IP.
• SalMar ASA: Norwegian global salmon farming leader and pioneer of ocean-based offshore salmon farming (via SalMar Aker Ocean). Comparable to AquaBounty as a salmon industry participant and as a potential partner/acquirer for land-based salmon technology.

Others

• Cargill Aqua Nutrition: Global aquafeed supplier serving the salmon farming industry, including potentially AquaBounty's former operations. Adjacent ecosystem participant providing inputs to the value chain in which AquaBounty operated.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/aquabounty

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds7 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AquaBounty Technologies