Pond Technologies Holdings Inc. PNDHF is one of the first biotechnology companies to commercialize a scalable, algae-based solution to capture carbon.
Pond developed and commercialized a scalable method for transforming environmental pollutants like CO2 to grow microalgae. From there, CO2-generated algae can be processed into profitable consumer and energy products. Pond’s proprietary solutions hold potential to play a key role in reducing atmospheric CO2 and emissions levels and fighting climate change.
Pond has recently announced an agreement on a nonexclusive memorandum of understanding (MOU) with green waste management company SEM Energy Ltd.
Headquartered in Aberdeen, Scotland, SEM is a company with a sustainable, technology-driven approach to protect natural ecosystems. They focus on processing and reusing waste products and on reducing emissions from transporting waste products.
SEM collaborates with industry leaders across agriculture, aquaculture, distillery and biogas markets to offer end-to-end solutions for treating waste products and wastewater. Its system even goes one step beyond to actively recover nutrients and generate new, valuable byproducts for resale.
According to the agreement, Pond's technology will be an additional solution used in SEM projects and in collaboration with third-party partners. Pond and SEM plan to initially focus on Scotland-based projects with the goal to reduce 10,000 tonnes of CO2 into an energy plant using stack gas. The project is expected to launch by the end of 2022.
SEM will also promote and drive a carbon-capture campaign and recommend Pond to current environmental, social and governance (ESG) clients on a nonexclusive basis. In accordance, Pond agrees to promote and recommend SEM on a nonexclusive basis on future projects given the expected synergistic nature of each group's technology.
Strategic partnerships have played a critical role in allowing Pond to commercialize its algae-based technology solutions. The partnership with SEM will further contribute to Pond’s commercialization of its carbon reducing algae-based system across a myriad of global industries, especially by leveraging SEM's current project pipeline.
"Pond Technologies and SEM both have exciting technology and a common alignment which will ensure our strong future working relationship gets off to the best possible start,” SEM CEO and Co-Founder John Jones said. “The carbon abating, algae-growing technology Pond offers will be very synergistic to our existing offering and we think will help provide a deeper value proposition to current and future clients.
SEM started as a technology development company and evolved to incorporate the full end-to-end solution. Its transition into the technology development and service company it is today ensures the delivery of its technologies.
"This collaboration with SEM Energy comes at an extremely important time for Pond on the heels of the most significant milestones achieved to date with respect to the validation of our robust technology from multi-billion-dollar international organizations,” Pond President and CEO Grant Smith said. “The vertically integrated model we utilize to enable industries to monetize their waste emissions, reduce their carbon footprint and create sustainable products is garnering much interest globally, and SEM Energy will greatly assist us in our commercialization efforts with project opportunities around the world.”
About Pond Technologies
Ontario-based Pond Technologies is one of the first companies of its kind to commercialize a scalable approach to carbon capture. Its focus is on profitably transforming CO2 and other pollutants into algae-based nutraceuticals, animal feed or petroleum derivatives for commercial use.
Pond Technologies holds 26 active patents worldwide primarily concerned with its proprietary system to cultivate algae from CO2. Pond’s solutions help close the carbon loop and provide sustainable energy and product alternatives in everyday life.
Other companies engaging in the development and production of algae-based products and environmental solutions include Green Plains Inc. GPRE and TerraVia Holdings Inc. TVIAQ.
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
Featured photo from Unsplash
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.