More losses for AquaBounty as asset sell-off continues
Former United States land-based salmon farmer AquaBounty made a net loss of US $3.4 million for the second quarter of 2025, it said in a press release today. This compares to a net loss of $50.5m for the same quarter last year.
Included in the net loss for Q2 2025 was a non-cash asset impairment charge of $1.2m related to certain equipment originally intended for the company’s farm in Pioneer, Ohio.
On June 11, 2025, AquaBounty completed the sale of certain Ohio equipment assets for net proceeds of $2.4m.
As of June 30, 2025, the company had cash and cash equivalents of $730,000 compared to $230,000 as of December 31, 2024.
Ohio equipment
“During the second quarter, we continued to sell available Ohio equipment assets to generate cash for the company,” said David Frank, chief financial officer and interim chief executive.
“On June 11, 2025, we completed the sale of certain Ohio equipment assets for net proceeds of $2.4m, after deducting commissions and fees. This transaction provided us with the liquidity to continue to work with our investment banker to pursue strategic alternatives for our Ohio farm project.”
“We will continue to keep all stakeholders apprised of our progress,” concluded Frank.
Out of money
AquaBounty farmed salmon that inherited a genetic modification from their male parent which enabled them to grow more quickly. The company had a relatively small recirculating aquaculture system (RAS) facility in Albany, Indiana, and a broodstock facility and hatchery on Prince Edward Island, Atlantic Canada.
Its part-constructed RAS in Pioneer, Ohio, was intended to be the first of five 10,000-tonnes-per-year salmon farms in North America, but as building costs rocketed in the United States the company ran out of money, credit and time.
It sold its Indiana farm for less than $10m, and earlier this year sold its Canadian assets to conventional salmon farmer Cooke Aquaculture for $5.2m as it scrabbled for cash.
