AquaBounty Begins Construction of State-of-the-Art, Land-based Salmon Farm with Groundbreaking Ceremony in Pioneer, Ohio

Community leaders, government officials, construction partner CRB, RAS  technology leader Innovasea join AquaBounty executives to celebrate its new farm  that will supply a growing world with fresh, healthy and locally raised salmon 

MAYNARD, MASS, April 20, 2022 — AquaBounty (Nasdaq: AQB), a land-based salmon producer innovating to enhance productivity and sustainability in aquaculture, celebrated breaking  ground today on the construction of its first 10,000 metric ton Atlantic salmon farm in Pioneer,  Ohio. AquaBounty was joined at the groundbreaking event by partners CRB, Innovasea, local  and government officials, and key Ohio economic development leaders.  

“We are pleased to have officially begun building our next-generation, highly productive facility  in Pioneer, Ohio, which will serve as a model for the aquaculture industry and our continued  expansion,” said Sylvia Wulf, Chief Executive Officer of AquaBounty. “This milestone comes  after many dedicated teams completed extensive scientific investigation, analysis, testing,  modeling, and regulatory review. We also celebrate with the Village of Pioneer, Williams  County, the Regional Growth Partnership, and the State of Ohio, which will benefit from the  introduction of a new industry with new jobs and new opportunities in Northwest Ohio.” 

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AquaBounty expects the project cost to be in the range of $290 million to $320 million,  including a reserve for potential contingencies of $30 million. The Company anticipates  commercial stocking of salmon eggs to commence in late 2023. Once in full operation, the farm  is expected to bring more than 100 new jobs to the region. 

CRB, an international leader in sustainable engineering, architecture, construction, and  consulting solutions to the food and beverage and life sciences industry, will lead the design  and construction of the facility for AquaBounty. Innovasea, a global leader in technologically  advanced aquatic solutions for aquaculture and fish tracking, is designing the Recirculating  Aquaculture Systems (“RAS”) technology for the new farm.  

“AquaBounty’s facility demonstrates the bold vision necessary to defeating food insecurity on a  global scale,” said Ryan Schroeder, President of CRB. “We are extremely humbled and grateful  that our integrated ONEsolution approach is playing a key role in uniting that vision with  execution methods designed to deliver projects on schedule, on budget and with high quality.”

“This is an important milestone in the advancement of aquaculture in the United States, and  Innovasea is excited to lend our RAS expertise to the project,” said Innovasea CEO David Kelly.  “AquaBounty’s state-of-the-art facility will go a long way to proving that commercial land-based  aquaculture can be scaled up and remain both profitable and sustainable.” 

“AquaBounty will establish its largest and most advanced facility here in Ohio,” said J.P.  Nauseef, president, and CEO of JobsOhio. “The farm will create more than 110 new jobs while  attracting the next generation of food production technology to Williams County.” 

“As the global population increases, we are working to efficiently feed a hungry world with a  sustainable source of nutritious food,” said Wulf. “The RAS technology and overall facility  design combined with the proximity to major markets will continue to generate a lower  carbon footprint compared to flying salmon produced overseas, as well as ease pressure on  wild salmon stocks, while using natural resources responsibly and sustainably.” 

AquaBounty offers a consistent supply of salmon raised in the U.S. in a safe, secure and  sustainable way. AquaBounty strategically locates its farm facilities within easy reach of key U.S.  markets to accelerate delivery of fresh and safe Atlantic salmon to consumers. 

About AquaBounty 

At AquaBounty Technologies, Inc. (NASDAQ: AQB), we believe we are a leader in aquaculture, leveraging decades of technology expertise to deliver game-changing solutions that address  food insecurity and climate change issues, while improving efficiency, sustainability and  profitability. AquaBounty provides fresh Atlantic salmon to nearby markets by raising its fish in  carefully monitored land-based fish farms through a safe, secure and sustainable process. The  Company’s land-based Recirculating Aquaculture System (“RAS”) farms, located in Indiana,  United States and Prince Edward Island, Canada, are close to key consumption markets and are  designed to prevent disease and to include multiple levels of fish containment to protect wild  fish populations. AquaBounty is raising nutritious salmon that is free of antibiotics and other  contaminants and provides a solution resulting in a reduced carbon footprint and no risk of  pollution to marine ecosystems as compared to traditional sea-cage farming. For more  information on AquaBounty, please visit www.aquabounty.com or follow us  on Facebook, Twitter, LinkedIn and Instagram

About CRB: 

CRB is a leading provider of sustainable engineering, architecture, construction and consulting  solutions to the food and beverage and life sciences industries. The company’s more than 1,600  employees provide world-class solutions that drive success and positive change for their clients,  people and communities. CRB is a privately held company with a long history of serving clients  throughout the world, consistently striving for the highest standard of technical knowledge,  creativity and execution.

About Innovasea: 

Fueled by leading-edge technology and a passion for research and development, Innovasea is  revolutionizing aquaculture and advancing the science of fish tracking to make our oceans and  freshwater ecosystems sustainable for future generations. With more than 250 employees  worldwide, Innovasea provides full end-to-end solutions for fish farming and aquatic species  research – including quality equipment that’s efficient and built to last, expert consulting services,  and innovative platforms and products that deliver unrivaled data, information and insights.