AquaBounty acquires certain assets of Bell Fish
US-based biotechnology company AquaBounty Technologies has agreed to acquire certain assets of Bell Fish Company, including its farming facility in Albany, Indiana.
For this acquisition, the biotechnology company will pay Bell Fish $14m in cash.
The transaction is expected to be completed over the next 30 days.
AquaBounty chief executive officer Ronald Stotish said: "This acquisition marks an important milestone and provides the company with its first commercial-scale facility in the US for growing eco-friendly AquAdvantage Salmon.
“This site will enable the production of healthy Atlantic salmon, which will not require vaccines or antibiotics, in a sustainable and responsible manner close to domestic consumers.”
The acquisition will provide a land-based contained aquaculture system, enabling AquaBounty to grow AquAdvantage Salmon near demand hubs in the $2bn US Atlantic salmon market.
The company expects the first harvest by the third quarter of 2019.
Once the facility is fully operational, the annual capacity is expected to be approximately 1,200t of Atlantic salmon.
In addition, AquaBounty is exploring opportunities for large production facilities in the US and Canada.