Company looking to bring land-based salmon farm to Pioneer, Ohio to sell Indiana facility

TOLEDO, Ohio (WTVG) - AquaBounty Technologies announced it is selling its Indiana farm operation.

The company is working to build a salmon fishing facility in Pioneer, Ohio, near the Michindoh Aquifer and the St. Joseph River. The company said in its announcement that Ohio facility is about 30% complete and AquaBounty plans to prioritize financing alternatives necessary to resume and finish that construction.

The company said the Indiana facility succeeded in its objective to show the AquaBounty’s ability to grow and sell its salmon in the market, but is making the move to sell as part of its efforts to strengthen its balance sheet and increase its cash position.

The facility in Pioneer, Ohio would produce around 10,000 metric tons of genetically-modified salmon yearly. The company says its land-based farms and use of genetic engineering are an effort to meet demand for seafood.