Carbon capture innovations are constantly competing in the race to tackle climate change. Pond Technologies Inc. (TSXV: POND) is a Canadian algae carbon capture company that is trying to assist in the world’s decarbonization efforts. It is also trading on the TSX Venture Exchange under the symbol POND.
Pond Tech uses the power of algae to capture emissions and has engineered a scalable, profitable way for companies to reduce their carbon footprint.
It uses advanced tanks that grow algae called algae platforms offering one of the most efficient, compact methods for farming algae to capture emissions. Apart from sequestering CO2, the algae could be used to create valuable products that can bring new revenue streams.
Examples are animal feed produced from algae, health supplements, or biotech applications in diagnostics and therapeutics. All that while offsetting the carbon emissions from factories.
Pond Tech’s algae are housed in large tanks, fitted with lights and sensors to optimize conditions, and is harvested regularly to ensure it grows continuously. One platform contains one million liters and the algae could sequester 2,700 tons of CO2.
The platforms can be custom built to meet the needs of Pond Tech’s customers – scaled up or down to the necessary size. They could contain the exact quantity of algae needed to offset the emissions emitted by the factory.
The company’s demonstration algae plant in St. Marys, Ontario connects a 25,000-liter tank with a series of pipes run directly from the smokestacks of St. Marys Cement factory. A ton of algae that grows in the tank captures about 2 tons of carbon from the cement factory, and the tank can yield approximately 7 tons of algae per year.
What makes the company stand out is that it usually takes thousands of acres of algae to offset a factory’s emissions but Pond Tech can achieve that for traction of that space. The platforms yield denser growth to increase carbon capture per square foot compared to an outdoor algae farm.
The company has recently teamed up with Livalta – an AB Agri company producing food protein ingredients. The two partners will explore viable ways to produce algae-based animal feed ingredients from CO2 emissions.
Pond Technology revolutionizes algae production at scale. The company reduced the space needed for algae production and increased its carbon sequestration while optimizing costs and introducing new revenue streams. The technology can certainly find its valuable place in the carbon capture utilization and storage industry which could make it an attractive carbon capture technology stock.