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AquaBounty gets greenlight for commercial production in Canada

AquaBounty will begin stocking the Rollo Bay production facility as soon as possible, with the first harvest of AquAdvantage Salmon estimated for the fourth quarter of 2020.

Environment and Climate Change Canada (ECCC) has approved AquaBounty's Rollo Bay facility on Prince Edward Island for the commercial manufacture and grow-out of AquAdvantage Salmon.

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After an extensive and thorough evaluation, ECCC approved the production of AquAdvantage Salmon at the site based on the physical, biological, and operational measures in place or planned at the Rollo Bay facility, said the company.

This announcement by ECCC, which came to the same conclusion as the US Food and Drug Administration (FDA) after assessing the company’s Albany, Indiana, land-based production facility, is the fifth regulatory determination of environmental safety after similar findings in the United States, Argentina, Brazil, and China.

The latter three countries reviewed the potential environmental impacts before approving trials.

AquaBounty will begin stocking the Rollo Bay production facility as soon as possible, with the first harvest of AquAdvantage Salmon estimated for the fourth quarter of 2020.

This is similar to the timing of the first harvest at the company’s production facility in Albany, Indiana.

"We are pleased that Environment and Climate Change Canada has determined that AquAdvantage Salmon is safe to produce in our Rollo Bay production facility," said Sylvia Wulf, CEO of AquaBounty.

"With this final regulatory approval now obtained, we anticipate hiring more people from the community on Prince Edward Island to ramp up commercial production of our salmon, joining our current staff of 25."

AquaBounty recently raised $7.5 million (€6.7 million) through a share public offering of 3.3 million shares launched at a price of $2.25 (€2).

The company said it will use the proceeds for working capital costs associated with growing its first batches of fish at the Indiana and Rollo Bay farm sites.

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