MARKHAM, ON / ACCESSWIRE / May 19, 2021 / Pond Technologies Holdings Inc. (the "Corporation" or "Pond") (TSX.V:POND), (OTCQB:PNDHF) an ESG company addressing global sustainability challenges of climate change and nutrition, is pleased to provide the following business update on the continued momentum being experienced across the organization.
"I am very pleased with Pond's prospects. I believe we're nearing an inflection point within our company, which is positioned to execute on near term objectives," commented CEO, Grant Smith. "Since being appointed to the role of CEO, my focus has centered on driving sustainable revenue generation across the organization.
"Moreover, we are laser-focused on driving margin growth through improved operating efficiency, and we have decreased our monthly overhead substantially. The net cash outflow from continuing operating activities for the twelve months ended December 31, 2020 was approximately $1.5 million as compared to $4.5 million in 2019. The benefit of the cost reductions put in place in April 2020, as well as increasing revenue growth in Pond Naturals, contributed to the reduction and are essential to the Corporation's goal of becoming cashflow positive. We continue uncovering strategic, and equitable third-party relationships such as UK- based Remediiate focused on Pond's proprietary growth platform technology.
"Pond has more than 9 active U.S. patents and is leveraging these through ongoing discussions inside and outside Canada's borders. We have developed new bioreactor designs appropriate for production of recombinant proteins for diagnostic, vaccine and therapeutic applications, and we are filing new provisional patents that will protect these designs. Pond completed two research contracts specifically proving the use of genetically modified algae to grow recombinant proteins and look forward to additional developments through our new biotech division. Additionally, we are in advanced licensing discussions with multinational companies in the animal feed, food production, and oil and gas sectors, with expected deal announcements forthcoming."
Pond Tech
Pond Tech is engaged in the sale and licensing of its CO2 abatement technology to project developers, funders, engineering companies, and others in partnership with industrial emitters. The Corporation has developed a proprietary system that can profitably transform CO2 into valuable products. We grow algae in large vessels (bioreactors), which are engineered to automatically regulate the inflow of CO2. One tonne of algae sequesters nearly two tonnes of CO2.
Peter Howard, VP Project Developments at Pond Technologies states "Pond continues to progress both our core technology and the specific commercial market applications. This summer, we hope to announce new disruptive partnerships in the food and feed sector, where algae from Pond's technology is an ingredient with significant advantages over incumbents, in regard to lack of contamination and consistent quality."
Pond Biotech
Pond's Biotech division is utilizing Pond's proprietary micro-algae growth platform to grow unique algae strains for the expression of complex proteins used in diagnostics and therapeutic treatments. Proteins are used in a wide range of diagnostics used to detect disease. Proteins are also used in a wide range of therapeutics covering a multitude of diseases and as vaccines. Currently Pond is in active discussions to provide a critical reagent for a multinational company.
"We continue to strive to develop an algae-based platform that will allow us to accelerate product development," commented Nigel deGruyther, VP of Pond Biotech. "The current multinational company we are in discussions with will allow us to quickly scale and grow the pipeline of opportunity. We are very excited by the continued test results that we have achieved to date and while Pond's technology is ideally suited to be scaled to large quantities, our biotech division will offer us the opportunity to produce an extremely valuable product in a small bioreactor. I believe our biotech division can be a major driver for the future of Pond as we continue to be extremely focused on revenue generating opportunities. I joined Pond to bring to market a revolutionary development platform, and that is what we continue to work towards. As we move forward on our innovative platform, we are managing to exploit opportunities."
About Pond Technologies Holdings Inc.:
Located in Markham, Ontario, Pond is a technology company that provides profitable solutions to the global health and wellness challenges of climate change and nutrition. Pond's proprietary growth platform, including patented advanced photonics, optimizes key growth inputs in order to provide a controlled environment that maximizes the growth of algae and other organisms. This enables industrial emitters to generate new revenue streams from the transformation of underutilized CO2 to valuable algae-based products, such as protein for animal feed and nutraceutical products like Chlorella, Spirulina, and Astaxanthin for human consumption. For more information visit https://www.pondtech.com/.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding anticipated growth and related revenue generation, operating efficiency, development of strategic business relationships, the filing of patents, potential sale and licensing arrangements, and anticipated development of technological advances. Such forward-looking statements are based on certain key expectations and assumptions made by Pond, including, among others, assumptions regarding the continued legislative (including tax) regime in which Pond operates, the successful negotiation of binding agreements to give effect to partnership and licensing arrangements currently under negotiation, 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 technology, the ability of Pond to successfully compete against its competitors, cash flow and expenses, and obtaining and maintaining intellectual property protection. 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 its 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, available on Pond's profile on SEDAR at www.sedar.com. 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.
Neither the 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 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
SOURCE: Pond Technologies Holdings Inc.
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