Onboarding Canadian Provider of Midstream Solutions Provides Pond Opportunity to Build Imprint on Oil and Gas Sector
MARKHAM, ON / ACCESSWIRE / June 29, 2021 / Pond Technologies Holdings Inc. ("Pond") (TSX.V:POND); (OTCQB:PNDHF); (FSE:4O0), an ESG company addressing global sustainability challenges of wellness and climate change, announces that on June 22, 2021 it received a Purchase Order for an initial engineering study from CSV Midstream Solutions Corp. ("CSV"), a premier provider of midstream solutions. The initial project engineering study is for the design and construction of an algae plant utilizing C02 from an on-site natural gas plant. CSV is a Calgary-based, midstream natural gas and liquids infrastructure company creating a sustainable footprint in the Western Canadian natural gas industry. CSV has three operating plants in Alberta.
The initial engineering study follows an executed LOI for Pond to support the design, procurement and construction of an algae plant utilizing emissions from one of CSV's natural gas facilities near Grande Prairie, Alberta. Upon completion of the engineering study and a positive Final Investment Decision by CSV, the first stage of development would be an algae plant that would supply Pond with an enhanced supply of astaxanthin. Pond would provide engineering services, proprietary equipment and operational support. Pond and CSV anticipate further scale-up opportunities to absorb more carbon emissions upon successful completion of the first stage. Given the emphasis CSV places on health, safety and environmental awareness, Pond is extremely pleased to be afforded the opportunity to provide the support services and construction of this algae plant.
Grant Smith, President & CEO at Pond said: "The execution of this LOI with CSV is another example of the importance of Pond's vertically integrated platform. This proposed algae plant would provide us with an enhanced supply of Canadian grown astaxanthin and would serve as an additional revenue stream for Pond Naturals. Our focus remains sustainable revenue generation, and validation of our model, and it is these types of agreements that do just that. Pond has the extensive technical expertise to ensure the execution in the construction, operation and maintenance of this future algae plant, and we are thrilled to work alongside CSV. CSV, as a values-driven company, is the perfect partner to trial Pond's technology in Alberta, and we believe this is the beginning of a milestone filled relationship."
Daniel Clarke, CEO at CSV said: "CSV was founded on the principles of advancing innovative and new technologies that we deploy to encourage sustainability throughout Alberta, with maximum impact and scalability. We selected Pond to continue to have a positive impact on the communities we work in and our natural environment. We are committed to being the premier provider of midstream solutions, creating shared value through sustainable business practices and this relationship with Pond reflects this sentiment."
About CSV Midstream Solutions Corp.
CSV Midstream Solutions Corp. is a Calgary-based, midstream natural gas and liquids infrastructure company creating a sustainable footprint in the Western Canadian natural gas industry. Our expertise lies in providing innovative solutions in the engineering, design, construction, operation and management of these assets.
About Pond Technologies Holdings Inc.:
Located in Markham, Ontario, Pond Technology is a technology leader in controlled environment cultivation of micro-algae. In over ten years of R&D, Pond has developed a robust disruptive technology platform based on artificial intelligence, proprietary LED-lights and patented CO2-Management. The use of concentrated CO2 from industrial waste streams enables Pond to boost productivity of micro-algae well beyond the capacity of outdoor algae growers and allows industrial emitters to abate and ultimately recycle CO2. Pond is currently selling micro-algae derived antioxidant astaxanthin under its Regenurex brand. As micro-algae are becoming increasingly important in pharmaceuticals and cosmetics, nutraceuticals, human nutrition, aqua farming, bioplastics and biofuels, Pond has begun to license its technology to third parties for ongoing license fees and royalties. Pond recently added a Biotech division focused on the growth of unique strains of micro-algae to be used as a reproductive medium for the expression of human anti-bodies and proteins.
For more information, please visit https://www.pondtech.com/.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
For further information contact: Grant Smith, Chief Executive Officer, at g.smith@pondtech.com, 416-287-3835 ext. 201; or Cole Stevens at c.stevens@pondtech.com, 416-287-3835
Forward-Looking Statements
This press release contains forward‐looking statements within the meaning of applicable securities laws, including statements regarding the potential positive final investment decision of CSV to construct the algae plant, the future provision by Pond to CSV of engineering services, proprietary equipment and operational support, the generation from the plant of a supply of astaxanthin to Pond and expected revenue to Pond resulting therefrom, and the potential scale-up of the operations at the plant. Such forward‐looking statements are based on certain key expectations and assumptions made by Pond, including, among others, assumptions regarding a positive engineering study that results in CSV making an investment decision to construct the algae plant, the successful negotiation of definitive agreements between CSV and Pond in respect of Pond's provision of engineering services, proprietary equipment and operations support in respect of same, the continued legislative (including tax) regime in which Pond operates, availability of cost‐effective labour and supplies, the proper functioning of Pond's technology, the quality of the algae produced, the demand for Pond's products, the ability of Pond to successfully compete, cash flow and expenses, obtaining and maintaining intellectual property protection, and the continued profitable operation of CSV as a going concern. Although Pond believes that the expectations and assumptions on which such forward‐looking statements are based are reasonable, undue reliance should not be placed thereon and Pond can give no assurance that they will prove to be correct. By their nature, such forward‐looking statements are subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed, including the risks set forth in Pond's management's discussion and analysis of financial condition and results of operations for its year ended December 31, 2020 and for the interim period ended March 31, 2021 available on Pond's profile on SEDAR at www.sedar.com, and those risks inherent in the business of CSV as a midstream natural gas and liquids infrastructure company. Readers are cautioned not to place undue reliance on this forward‐looking information, which is given as of the date hereof, and to not use such forward‐looking information for anything other than its intended purpose. Pond does not undertake any obligation to update publicly or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Pond Technologies Holdings Inc.
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https://www.accesswire.com/653538/Pond-Technologies-Announces-Engineering-Contract-with-CSV-Midstream-Solutions-Corp-for-Construction-of-an-Algae-Plant-Utilizing-CO2-from-an-On-Site-Natural-Gas-Plant
