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AquaBounty, First Company Approved to Sell Genetically Engineered Animals, to Sell off Hatchery

AquaBounty's Canadian Operations

AquaBounty Technologies, Inc. has announced that it will be selling off its Canadian hatchery. AquaBounty began operating its Rollo Bay hatchery on Prince Edward Island, Canada in 2015.

The hatchery was used to produce AquaBounty's AquAdvantage Salmon, the first genetically engineered animal to be approved for sale as food in the United States.

The sale of the Canadian hatchery will allow the company to better focus on the United States, where the company has a hatchery in Indiana.

AquaBounty's Struggles

AquaBounty has struggled financially in recent years, and the sale of the Canadian hatchery is a sign that the company is trying to streamline its operations.

In 2020, AquaBounty reported a net loss of $13.6 million.

The company has also been criticized for its genetically engineered salmon, which some environmental groups and consumers have raised concerns about.

The Future of Genetically Engineered Animals

The sale of AquaBounty's Canadian hatchery is a sign that the future of genetically engineered animals is uncertain.

Despite the FDA's approval of AquAdvantage Salmon, there is still a lot of public skepticism about genetically engineered animals.

It is unclear if AquaBounty's challenges are specific to the company or if they are a sign that genetically engineered animals will face an uphill battle in the market.

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