ARK Invest, a New York-based investment firm focused solely on "disruptive innovations," bought a 10.21 percent stake in land-based salmon farmer AquaBounty Technologies, according to a recent Securities and Exchange filing.
The investor bought a total of 4,585,196 shares in the company for an undisclosed amount.
ARK Invest's top holding is Tesla, Elon Musk's electric vehicle and clean energy firm. However, the firm has slashed its stake in the company over the last few quarters.
AquaBounty recently identified the next US location for its planned large-scale farm, where it will produce its AquAdvantage genetically modified (GM) salmon.
The new farm will be located in Mayfield, Kentucky, and will be AquaBounty’s first large-scale commercial facility with a planned production capacity of 10,000 metric tons annually, about eight times the size of its currently operating farm in Albany, Indiana, which has a 1,200 metric ton annual production capacity, the company said.
AquaBounty announced a loss of $3.6 million (€3.1 million) in its third-quarter earnings as the company moves closer to scaling production of its GM salmon, 20 percent down on the $3 million (€2.6 million) loss the company experienced through the third quarter of last year.