AquaBounty is set to cease salmon production entirely having announced plans to wind down its hatchery operations in Bay Fortune, Prince Edward Island.
AquaBounty is shutting down its last operating farm, Bay Fortune, due to financial difficulties. This includes culling its unique genetically modified AquAdvantage salmon broodstock and laying off nearly all staff. CEO Dave Melbourne has resigned, along with other key executives, Alejandro Rojas and Melissa Daley. AquaBounty has sold previous facilities and halted construction on a larger project in Ohio. The company is working to sell remaining assets and assess options for the Ohio farm. CFO and interim CEO David Frank cited insufficient liquidity despite efforts to raise funds as the reason for the closure.