AquaBounty Technologies – the Massachusetts-based company that claimed to have found “a better way to feed the world” with a genetically modified, faster-growing salmon – has gone bust.
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[W]ith [Senator Lisa] Murkowski and some environmental organizations continuing to publicly rant about the company’s Frankenfish being dangerous, AquaBounty struggled to find the cash to complete its planned Ohio farm where the AquaAdvantage salmon were to be raised in a recirculating aquaculture system (RAS).The plan there, as announced, included “the culling of all remaining fish and a reduction of substantially all personnel over the course of the next several weeks. We prioritized maintaining operations at the Bay Fortune facility, but do not have sufficient liquidity to continue to do so. We have been working for over a year to raise capital, including the sale of our farms and equipment.
“Unfortunately, these efforts have not generated enough cash to maintain our operating facilities. We therefore have no alternative but to close down our remaining farm operations and reduce our staff.
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It is conceivable that AquaBounty could sell or license its patented AquaAdvantage technology to another salmon farming business to put Frankenfish back in the swim. In that regard it is worth nothing that technological break throughs are hard to keep contained.
