EXCLUSIVE: Pond Technologies Partners With Livalta On Algae-Based Animal Feed Project

Pond Technologies Holdings Inc. PNDHF, a Canadian ESG company focused on sustainability challenges created by protein shortages and climate change, is partnering with Livalta, an AB Agri company and a subsidiary of Associated British Foods ASBFY, on the commercialization of algae-based animal feed ingredients.

What Happened: According to the companies, this new endeavor will focus on growing algae-based animal feed from CO2 emissions. AB Agri will purchase an algae demonstration system from Pond for $2.2 million that will be installed in the U.K. to be installed in 2022.

Pond will also receive approximately receive up to $2 million in technology access fees and an ongoing royalty based on the production from commercial algae plants deployed in the future.

Related Link: Jeff Bezos Invests In Anti-Aging Science Startup

What's Next: The first algae product to be created in this partnership will be spirulina, which combines 60% protein with essential vitamins and minerals.

Livalta Managing Director Valerie Schuster stated, “We believe that science and technology are key to turning the protein challenge into an opportunity. We are very excited about this partnership with Pond and the potential that lies in their technology to produce algae using CO2 emissions. We look forward to working together to make positive change happen.”

Pond’s President and CEO Grant Smith added, “This landmark commercial partnership with AB Agri gives Pond global access to the multi-billion-dollar animal feed market which Knowledge Sourcing Intelligence estimated was $345 Billion in 2020 growing to $460 billion by 2026. The further validation of our model provides us with significant momentum in expanding our sales funnel.”

Price Action: Pond's stock closed Tuesday's session at 39 cents a share.

Photo: Gundula Vogel from Pixabay.

Posted In: algaeAnimal FeedESGLivaltasustainabilityNewsPenny StocksExclusives

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