On Dec. 11, 2024 the Board of Directors of AquaBounty Technologies announced that the Company was winding down its hatchery operations in Bay Fortune, Canada including a reduction of its workforce and the exit of several senior management members.

AquaBounty received approval from the U.S. Food and Drug Administration (FDA) in April 2018 to raise AquAdvantage Salmon at its land-based contained facility near Albany, Indiana.

The company worked for over a year to raise capital, including the sale of their farms and equipment. Unfortunately, these efforts did not generate enough cash to maintain their operating facilities.