AquaBounty signs construction management contract with Gilbane for Ohio salmon facility

AQUABOUNTY TECHNOLOGIES INC

Gilbane Building Co. engaged as construction manager for land-based salmon farm in Pioneer, Ohio (10,000 MT annual capacity).
Contract on Guaranteed Maximum Price basis; initial GMP proposal due June 30, 2023; final GMP due Sept 1, 2023.
Construction Manager fee: 3% of Costs of Work plus General Conditions, with up to 1% incentive fee potential.
Change order mark-up capped at 3% with $10M deadband; construction contingency set at 3% of Costs and GC.
Insurance costs: 0.7% for CCIP, 0.25% for non-OCIP/CCIP, and 1.4% subguard insurance on enrolled subcontracts.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AQUABOUNTY TECHNOLOGIES INC entered into Agreement For Construction Management Services with Gilbane Building Company (effective 2023-06-29).

Action: entry
Counterparty: Gilbane Building Company
Effective: 2023-06-29

Exact text from the filing

On June 29, 2023, AquaBounty Farms Ohio LLC (“AQB Ohio”), an Ohio limited liability company and a wholly-owned subsidiary of AquaBounty Technologies, Inc. (the “Company”), entered into an Agreement For Construction Management Services (the “Agreement) with Gilbane Building Company (“Gilbane”), effective June 29, 2023

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Source: SEC EDGAR

accession 0001193125-23-180380

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