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Pond Technologies Holdings Inc. is advancing in the production of spirulina and algae-based animal feed using CO2 emissions. This innovative approach aims to tackle sustainability challenges in protein sourcing, particularly for aquaculture. In collaboration with Livalta, a subsidiary of Associated British Foods, Pond is constructing a pilot plant and has installed an algae lab in the UK. A study indicates that spirulina can match the nutritional value of conventional fish feed. Pond's technology promises to generate high-value protein while addressing greenhouse gas emissions, supporting more sustainable salmon farming.
Pond Technologies Holdings Inc. (OTCQB: PNDHF) has issued 1,086,428 common shares to Georgian Villas Inc. for settling $108,642.83 in accrued interest related to a secured convertible loan of $1,988,000. The shares were priced at $0.10 each and approved by the TSX Venture Exchange, with a hold period until May 26, 2023. This move aims to preserve cash and reflects Georgian Villas' commitment to Pond. The company specializes in microalgae cultivation technology leveraging AI and CO2-management. Pond is also expanding into licensing its technology and has introduced a Biotech division focused on unique microalgae strains.
Pond Technologies Holdings Inc. announced the issuance of 1,086,428 common shares at C$0.10 per share to settle accrued interest of C$108,642.83 on a promissory note owed to Georgian Villas, controlled by a company director. This action aims to enhance the company's financial flexibility as they focus on sustainable revenue generation. The issuance is pending TSX Venture Exchange approval and will be subject to a four-month hold period. Pond Technologies is dedicated to transforming CO2 into valuable products and expanding its Biotech division.
Pond Technologies Holdings Inc. has successfully installed an algae lab and bioreactors at AB Agri's British Sugar plant in the UK. The installation is a vital step towards using CO2 emissions to grow algae, contributing to sustainable food systems. The initial algae grown will aid in the scale-up process for larger bioreactors planned for 2023. Pond's proprietary technology transforms CO2 into valuable products, and this collaboration marks a significant advancement in their efforts to address climate change and enhance protein production.
Pond Technologies Holdings Inc. (TSX.V:POND)(OTCQB:PNDHF) announced the resignation of Jacob Gamble from its Board of Directors, effective October 31, 2022. He will take on a new role as Strategic Advisor. CEO Grant Smith expressed gratitude for Gamble's contributions over the last 2.5 years, especially in preparing for the commercial launch of their algae growing technology. Chairman Robert McLeese stated that the company is searching for a strong replacement and is optimistic about the candidates.
Pond Technologies Holdings Inc. (PNDHF) announced a significant achievement under its contract with a Fortune 500 Oil and Gas company, receiving an additional $350,000, bringing total contract payments to $580,000. The milestone involved extracting recombinant proteins from algae, which performed better than traditional proteins in lateral flow diagnostic tests for COVID antibodies. This breakthrough was documented in Nature Scientific Reports. CEO Grant Smith highlighted the advancement as a major step for Pond's biotech division and emphasized plans for scaling production to enhance revenue.
Pond Technologies Holdings Inc. (TSX.V:POND)(OTCQB:PNDHF) has engaged Clean Conduit, Inc. to market its carbon-absorbing, algae-growing technology. Clean Conduit brings over 15 years of experience in cleantech consulting, which will help Pond expand its client base, particularly in the alternative proteins sector. This partnership is largely subsidized by GreenCentre Canada and aims to increase awareness and facilitate introductions to potential clients. Pond Technologies focuses on transforming CO2 into valuable products and has recently introduced a Biotech division for producing human antibodies.
Pond Technologies Holdings Inc. (OTCQB: PNDHF) has announced a memorandum of understanding (MOU) with SEM Energy Ltd. to collaborate on projects aimed at reducing CO2 emissions. The initial focus will be on a project in Scotland to abate 10,000 tonnes of CO2 from a waste-to-energy plant, expected to start in Q4 2022. SEM will promote Pond's technology while Pond will recommend SEM for future projects, creating synergies that enhance both companies' commercialization efforts.
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