AquaBounty begins construction of state-of-the-art land-based salmon farm with groundbreaking ceremony in Pioneer, Ohio

AYNARD, Mass. — AquaBounty (Nasdaq: AQB), a land-based salmon producer that innovates to improve aquaculture productivity and sustainability, today celebrated the groundbreaking construction of its first 10-acre Atlantic salmon farm. 000 metric tons at Pioneer, Ohio. AquaBounty was joined at the groundbreaking event by partners CRB, Innovasea, local and government officials, and key Ohio economic development leaders.

“We are thrilled to have officially begun construction of our highly productive, next-generation facility in Pioneer, Ohio, which will serve as a model for the aquaculture industry and our continued expansion,” said Sylvia Wulf, CEO of AquaBounty. “This milestone comes after many dedicated teams have completed extensive scientific research, analysis, testing, modeling and regulatory review. We are also celebrating with the Village of Pioneer, Williams County, Regional Growth Partnership and the State of Ohio, which will benefit from the introduction of a new industry with new jobs and new opportunities in Northwest Ohio.

AquaBounty expects the cost of the project to be between $290 million and $320 million, including a potential contingency reserve of $30 million. The company expects commercial salmon roe seeding to begin in late 2023. Once fully operational, the farm is expected to create over 100 new jobs in the area.

CRB, a global leader in sustainable engineering, architectural, construction and consulting solutions for the food and beverage and life sciences industry, will lead the design and construction of the facility to AquaBounty. Innovasea, a global leader in technologically advanced aquatic solutions for aquaculture and fish monitoring, is designing the recirculating aquaculture systems (“RAS”) technology for the new farm.

“The installation of AquaBounty demonstrates the bold vision needed to defeat food insecurity on a global scale,” said Ryan Schroeder, president of CRB. “We are extremely humbled and grateful that our ONEsolution integrated approach plays a key role in uniting this vision with execution methods designed to deliver projects on time, within budget and with high quality.”

“This is an important step in advancing aquaculture in the United States, and Innovasea is pleased to bring our RAS expertise to the project,” said Innovasea CEO David Kelly. “AquaBounty’s state-of-the-art facility will go a long way to proving that commercial land-based aquaculture can be scaled up and remain both profitable and sustainable.”

“AquaBounty will establish its largest and most advanced facility here in Ohio,” said JP Nauseef, president and CEO of JobsOhio. “The farm will create more than 110 new jobs while bringing the next generation of food production technology to Williams County.”

“As the world’s population grows, we strive to efficiently feed a hungry world with a sustainable source of nutritious food,” Wulf said. “RAS technology and overall facility design, combined with proximity to major markets, will continue to generate a lower carbon footprint than overseas-produced flying salmon, as well as alleviate pressure on wild salmon stocks.” , while using natural resources responsibly and sustainably. »

AquaBounty offers a consistent supply of USA-raised salmon in a safe, secure, and sustainable manner. AquaBounty strategically places its farming facilities near major US markets to expedite the delivery of fresh, safe Atlantic salmon to consumers.

About AquaBounty
At AquaBounty Technologies, Inc. (NASDAQ: AQB), we believe we are a leader in aquaculture, leveraging decades of technological expertise to provide breakthrough solutions that address food insecurity issues. and climate change, while improving efficiency, sustainability and profitability. AquaBounty supplies fresh Atlantic salmon to nearby markets by raising its fish on carefully monitored land-based fish farms through a safe, secure and sustainable process. The Company’s land-based recirculating aquaculture system (“RAS”) farms, located in Indiana, USA and Prince Edward Island, Canada, are close to major markets for consumption and are designed to prevent disease and include multiple levels of fish containment to protect wild fish populations. AquaBounty farms nutritious salmon free of antibiotics and other contaminants and provides a solution resulting in a reduced carbon footprint and no risk of pollution to marine ecosystems compared to traditional sea cage farming. For more information on AquaBounty, please visit www.aquabounty.com or follow us on Facebook, Twitter, LinkedIn and instagram.

About CRB:
CRB is a leading provider of sustainable engineering, architecture, construction and consulting solutions for the food and beverage and life science industries. The company’s more than 1,600 employees deliver world-class solutions that drive success and positive change for their customers, employees and communities. CRB is a privately held company with a long history of serving clients around the world, constantly striving to achieve the highest level of technical knowledge, creativity and execution.

About Innovasea:
Fueled by cutting-edge technology and a passion for research and development, Innovasea is revolutionizing aquaculture and advancing the science of fish tracking to make our oceans and freshwater ecosystems sustainable for future generations. With over 250 employees worldwide, Innovasea provides complete end-to-end solutions for fish farming and aquatic species research – including quality, efficient and built-to-last equipment, expert consulting services and innovative platforms and products that deliver unparalleled data, insights and insights. knowledge.

Forward-looking statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, as amended, including regarding the expected size of AquaBounty’s proposed facility in Ohio; production capacity; construction schedule, permits, regulatory approvals or commercial storage; building cost; amount to be invested in the project; job creation expectations; ability to produce eggs, fry and broodstock; future revenue streams; customer onboarding, pricing and profitability. The forward-looking statements contained in this press release are neither promises nor guarantees, and you should not place undue reliance on such statements as they involve significant risks and uncertainties relating to AquaBounty. AquaBounty may use words such as “expect”, “anticipate”, “project”, “intend”, “intended”, “plan”, “aim”, “believe”, “seek” , “estimate”, “may”, “focus”, “will” and “may” and similar expressions to identify these forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include risks relating to, among other things, AquaBounty’s business and financial condition; whether AquaBounty will have sufficient capital and/or will need and be able to raise additional equity; market and other conditions; whether AquaBounty will be able to obtain the required regulatory approvals and permits, will be able to construct and operate the farm profitably; and the impact of general economic, public health, industry, or political conditions in the United States and around the world. Forward-looking statements speak only as of the date hereof and, except as required by law, AquaBounty undertakes no obligation to update or revise such forward-looking statements. For more information regarding these and other risks that we face, please refer to our public filings with the Securities and Exchange Commission (“SEC”), available in the Investors section of our website at address www.aquabounty.com and on the SEC website at www.sec.gov.

Christopher S. Washington