AquaBounty has gained all permits for Ohio RAS facility
Cash-strapped salmon farmer AquaBounty Technologies has now received all necessary permits for its planned recirculating aquaculture system (RAS) facility in Pioneer, Ohio, the company said in a third-quarter report today.
United States-based AquaBounty sold off its land-based farms in Indiana and Prince Edward Island, Canada, after running out of cash. But it has held on to its RAS in Pioneer, which is about 30% complete, even though it has had to sell equipment from the site to raise money.
The company, which currently has no facility to produce fish, made a net loss of US $1.4 million in Q3, down from $3.4m in the same period last year. The loss included a non-cash asset impairment charge of $69,000 related to certain equipment originally intended for Pioneer.
Strategic alternatives
AquaBounty said that as previously reported, its subsidiary, AquaBounty Farms Ohio LLC, had received a water withdrawal and consumptive use permit and was working to secure its wastewater discharge permit.
On September 12, 2025, it received a wastewater discharge permit from the Ohio Environmental Protection Agency. Additionally, on October 9 the company secured the necessary approvals to place its water and wastewater transmission lines through an existing right-of-way controlled by Williams County.
“With the receipt of these permits, our Ohio farm project is now fully permitted for its designed activities as a land-based, recirculating aquaculture system farm operation,” said David Frank, AquaBounty’s chief financial officer and interim chief executive.
“These developments will allow us to move forward with our investment banker on strategic alternatives for our Ohio farm project. We will continue to keep all stakeholders apprised of our progress.”
Assets worth $24m
At the end of September, AquaBounty had $951,434 in cash, along with prepaid expenses and other current assets of $519,027 and current assets held for sale valued at $5,000.
It also held property, plant and equipment valued at $22,668,000 and right of use assets worth $30,330.
Total assets were valued at $24.17 million, and current liabilities at $11.93m. The company has an accumulated deficit of $374 million.