Aquabounty Technologies Inc (AQB) Sector
Consumer Staples

(Current) $1.89
0.09 (5%) Open Price: 1.87

 

AquaBounty Technologies Inc. is a biotechnology company that focuses on pioneering solutions to address global challenges in aquaculture and food production. Founded in 1991, the company is known for its innovative approach to aquaculture, particularly its development of genetically engineered fish aimed at increasing efficiency and sustainability in seafood production. AquaBounty is headquartered in Maynard, Massachusetts, and operates with a mission to provide environmentally responsible solutions for the growing demand for protein-rich food sources.

 

One of AquaBounty's most notable achievements is the creation of the AquAdvantage Salmon, which is a genetically modified Atlantic salmon. This fish is engineered to grow faster and more efficiently than traditional salmon, thanks to the insertion of genes from Chinook salmon and an eel-like species. This genetic modification allows the AquAdvantage Salmon to reach market size in a shorter time, potentially reducing the environmental impact of salmon farming and meeting consumer demand for sustainable seafood.

 

AquaBounty has faced both acclaim and controversy due to its genetically modified salmon. Supporters emphasize the potential benefits of increased efficiency in aquaculture, reduced pressure on wild fish populations, and more sustainable food production. However, critics express concerns about environmental risks, such as the potential for these modified fish to escape and interbreed with wild populations, as well as ethical considerations surrounding genetically modified organisms.

 

The company has worked closely with regulatory agencies in various countries to obtain approvals for the sale and consumption of its AquAdvantage Salmon. In 2015, AquaBounty received approval from the U.S. Food and Drug Administration (FDA) to sell its genetically modified salmon in the United States, marking a significant milestone for the company. Since then, AquaBounty has continued to work on expanding its operations and market presence.

 

In recent years, AquaBounty has also explored other species for genetic modification and innovative solutions for aquaculture challenges, such as disease resistance and improved feed efficiency. Through its research and development efforts, the company aims to contribute to the global goal of ensuring a sustainable and reliable food supply while minimizing the environmental impact of food production.

 



 

(05/23/24) $1.87
(05/25/24) $1.80
(05/25/24) (Qty.)16,880
(05/23/24) $1.85
(05/23/24) $1.91
(05/05/24) $1.76
(05/12/24) $2.17
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