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CALGARY, Feb. 28, 2018 /CNW/ - Pond Technologies Holdings Inc. (TSX.V: POND) today announced the shipment of its proprietary Matrix System to Markham District Energy Inc. (MDE). The shipment marks the commencement of the first phase of a $16.8 Million project to convert CO2 emissions to valuable algae-based nutraceutical products. Pond's Matrix System optimizes algae strain selection through the analysis of its customer's emissions.
Pond also announced the signing of an exclusive marketing agreement with MDE who will market and develop customer projects using Pond's solution for the District Energy market worldwide. District Energy systems are a highly efficient way to provide power, heating and cooling to buildings in communities and campuses from central plants. Bruce Ander, MDE's President & CEO, is a past Chair of the International District Energy Association that represents over 2,200 members in 26 countries.
"We are pleased and ready to move this project forward with Pond Technologies. The technology represents a significant opportunity for Markham District Energy to lower our environmental footprint while repurposing greenhouse gas emissions to manufacture a valuable product. As we gain operational experience with the Pond process, we are keen to share our story with our District Energy colleagues here and abroad." Bruce Ander, President & CEO of Markham District Energy Inc.
Steve Martin, President & CEO of Pond Technologies Inc. commented, "We are very excited to be working with Markham District Energy on this landmark project and grateful for their help in propagating our solution to other District Energy utilities located around the world."
About Markham District Energy (MDE)
MDE, an energy company owned by the City of Markham, is committed to continuing as a leading developer of municipally owned district energy systems providing strategic foundations for Markham's Greenprint Sustainability Plan and economic development objectives. MDE owns and operates award-winning community energy systems serving buildings in the developing urban centres of Markham Centre and Cornell Centre.
About Pond Technologies:
Located in Markham, Ontario, Pond Technologies Holdings Inc. (Pond) has developed a proprietary growth platform that can transform carbon dioxide (CO2) from virtually any source into valuable bio-products. Pond works with the cement, steel, oil and gas and power generation industries to reduce greenhouse gas emissions and generate new revenue streams.
Pond's platform technology also includes the growth of algae superfoods for the nutraceutical and food additive markets. Pond's system is capable of growing many species of algae, including strains that produce anti-oxidants, omega-3 fatty acids, and protein for human and animal consumption.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.
SOURCE Pond Technologies Holdings Inc.