As covered previously in our article, Pond Technologies Inc. (TSXV: POND) is a Canadian company that is using the power of algae to capture industrial CO2 emissions via scalable platforms it has engineered.
Now the company is making progress on expansion plans and made a non-exclusive collaboration agreement with Malone Group to manage and deliver high-value, business-critical green projects.
Malone Group is a company that provides expertise in designing, managing, and delivering projects for clients. Under the agreement, the company will promote Pond to potential clients on a non-exclusive basis. It will also provide it with access to its process and safety engineering expertise.
On its side, Pond Technologies will promote and recommend Malone Group for future projects on a non-exclusive basis. The partnership would assist the algae company to continue to aggressively commercialize its decarbonization solution across different sectors on a global scale. Malone Group’s infrastructure will support Pond to bring its platform to international markets.
“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 Malone Group will greatly assist us in our commercialization efforts,” said President and CEO at Pond, Grant Smith.
Pond’s technology involves using concentrated CO2 from industrial waste streams to feed algae in special algae platforms that boost its carbon absorption abilities well beyond outdoor algae growers and allow industrial emitters to abate and ultimately recycle CO2.
The company is currently selling micro-algae-derived antioxidant astaxanthin under its Regenurex brand. It also offers a revenue stream for clients as algae is an important product in pharmaceuticals, cosmetics, human nutrition, aquafarming, bioplastics, and biofuels.
Pond has also started to license its technology to third parties for ongoing license fees and royalties. It recently added a Biotech division that examines the unique strains of micro-algae to be used as a reproductive medium for the expression of human antibodies and proteins.