Despite reporting a net loss, AquaBounty has had a successful year so far in terms of moving towards its goal of commercialising its AquAdvantage® salmon. Following the US FDA's approval of the salmon in 2015, in May 2016 the Canadian government followed suit and, after carrying out a review, determined that the salmon does not raise concerns related to food safety.
AquaBounty has also recently purchased the former Snow Island Sea Smolt plant in Rollo Bay West on Prince Edward Island, Canada, in order to raise conventional Atlantic salmon to provide eggs that will be transferred to its plant in Bay Fortune. Renovations of the facility are expected to be done by November 2016.
The company also reported in its update that it has started field trials of its AquAdvantage salmon in Brazil and Argentina.
Ron Stotish, Chief Executive Officer of AquaBounty, commented on the results, saying: “This was another significant milestone period for us during which AquaBounty took important steps towards the commercialization of our AquAdvantage Salmon."
"Health Canada authorities gave their approval for our salmon to be produced, sold and consumed in Canada, following a similar approval from the US Food and Drug Administration in 2015. We now have independent scientific reviews and approvals from two of the most respected regulatory agencies in the world that have confirmed the safety of our salmon for human consumption and for the environment.
“We are making the necessary preparations for the commercial launch of our product and we look forward to bringing our more sustainably produced salmon to consumers, with the assurance that it is nutritious, safe and healthy.”
