Pond Announces Additional Milestone Payment from a Fortune 500 Oil & Gas Company
Pond Technologies Holdings Inc. (TSX.V:POND) (OTCQB:PNDHF), an ESG company addressing global sustainability challenges of wellness and climate change, just announced that it has met another milestone under the previously announced contract with a major Fortune 500 Oil and Gas company. Pond Technologies (TSX.V:POND) (OTCQB:PNDHF) has received an additional $350,000 payment for completing this milestone, bringing the total amount earned from the contract to $580,000.
To reach this critical milestone, the company isolated recombinant proteins from Pond-grown algae that had to function as good as or better than conventionally generated proteins in a lateral flow diagnostic test. Lateral flow studies employing Pond-grown recombinant proteins successfully tested for COVID-19 antibodies in August, and they were more reactive than conventional proteins.
Pond Technologies (TSX.V:POND) (OTCQB:PNDHF) has been delivering recombinant proteins to the project consortium for weekly testing since the beginning of 2022. This material has demonstrated that algae-grown recombinant proteins perform equally well in diagnostic tests as traditionally manufactured proteins. These experiments findings were recently published in the scholarly journal Nature Scientific Reports.
“The successful completion of this milestone is a major step for Pond’s (TSX.V:POND) (OTCQB:PNDHF) biotech division which remains an exciting piece to the overall Pond technology suite. Although we remain extremely focused on commercialization of our algae growing, carbon capturing technology, the versatility of the technology has allowed us to explore multiple synergistic verticals such as biotech, which can produce meaningful revenue opportunities,” said Grant Smith, President & CEO at Pond (TSX.V:POND) (OTCQB:PNDHF). “We have now proven that we can grow functional recombinant proteins in algae, and that they work as well or better than what is available in the current market. Now that we have successful results, Pond (TSX.V:POND) (OTCQB:PNDHF) can work towards scaling production to complement our verticals of service.”
Pond (TSX.V:POND) (OTCQB:PNDHF) CEO Grant Smith Receives Canada’s Clean50 Award
Grant Smith, Pond‘s (TSX.V:POND) (OTCQB:PNDHF) CEO has been awarded Canadas 2023 Clean50 Award.
Mr. Smith was honoured in the Clean50 Clean Tech category for Ponds (TSX.V:POND) (OTCQB:PNDHF) achievement in inventing and commercializing its proprietary algae growth technology, which decreases carbon emissions and produces sustainable byproducts.
Pond Technologies (TSX.V:POND) (OTCQB:PNDHF) has created an advanced, ground-breaking technology that converts 2 tonnes of CO2 into 1 tonne of precious algae, which can then be used in a variety of beneficial ways. Livalta (an AB AGRI Company) and Pond Technologies (TSX.V:POND) (OTCQB:PNDHF) committed to an exclusive global cooperation to generate an algae-based animal and fish feed from CO2 emissions in an agreement dated September 7, 2021. The demonstration system will be used to cultivate algae strains for animal and fish feed studies and develop commercial animal and fish feeds for sale by AB Agri.
Pond Technologies (TSX.V:POND) (OTCQB:PNDHF) is now focused on finishing this demonstration facility and moving forward with its commercialization plan across various industries.
For more information on Pond Technologies (TSX.V:POND) (OTCQB:PNDHF), please visit this link.
SOURCE Pond Technologies (TSX.V:POND) (OTCQB:PNDHF).
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