Pond Technologies Announces that AB Agri has Begun to Grow Algae Following Delivery of New System

This morning Pond Technologies (TSX.V:POND) updated shareholders on their agreement with AB Agri, a subsidiary of Associated British Foods (LSE:ABF), reporting the installation of an algae lab, along with algae bioreactors on the Livalta Sugar Plant in Wissington, UK.

The 60 liter bioreactors and controls were built at Pond’s Canadian headquarters in Markham, Ontario, and were delivered, installed, and commissioned at the new location. They worked with AB Agri to specify the equipment needed to set up the lab which is an important step to support the 1,500 and 10,000 liter pilot bioreactors planned for 2023.

Pond’s CEO Grant Smith said “Installing the lab and initial seed train is the first stage in any algal project because doing so permits larger commercial scale photobioreactors. We are excited to report that algae growth has begun, and we anticipate that larger bioreactors will go online in 2023.”

Grant Smith joined Cassanda Leah on the Daily Dive last month.

Pond Technologies last traded at 8.5c on the TSX Venture exchange.

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