MARKHAM, ON / ACCESSWIRE / March 21, 2023 / Pond Technologies Holdings Inc. ("Pond") (TSX.V:POND)(OTCQB:PNDHF(FSE:4O0), an ESG company, is working on producing spirulina and other algae-based animal feed ingredients using CO₂ emissions to address global sustainability challenges of protein shortages and climate change, offering sustainable options for animal feed, including aquaculture.

As previously disclosed, Pond is working with Livalta, an AB Agri company, and subsidiary of Associated British Foods (LSE:ABF) on a pioneering global partnership to produce commercial algae-based animal feed ingredients from CO₂ emissions. Effectively, the technology is designed to take CO₂ emissions out of the air to produce high value protein. Our first product will be spirulina. On December 21, 2022, Pond announced that the algae lab, inclusive of Pond designed algae bioreactors, has been successfully installed on site at AB Agri's British Sugar plant in Wissington, UK.

While we are progressing with building the pilot plant, we are now embarking on building the science behind the product, complementing the existing trial library in animal feed. A recent study from the National Research Council of Canada (NRC) used the same strain of spirulina that Pond and Livalta intend to cultivate and results suggest that a diet including up to 20% spirulina biomass has similar essential amino acid and essential fatty acid digestibility as a conventional farmed salmon diet.

Compared to other aquatic and terrestrial animals, Atlantic salmon farming is the most effective at converting feed to protein, yet the sector is dependent on high value proteins such as fishmeal that each have their challenges in terms of sustainability and quality or reliability of supply. Spirulina, a microalgae with up to 65% high value protein produced using carbon dioxide emissions and in a controlled process with high quality standards could be a solution to those problems.

Grant Smith, President & CEO at Pond said: "We are pleased to see a product produced from the same strain that we intend to mass cultivate included in this study. The work we are doing globally aims to provide the aquaculture industry with protein-rich spirulina derived from greenhouse gas emissions, which has the potential to both reduce emissions and make salmon farming more sustainable."

Valerie Schuster, Managing Director Livalta (a division of AB AGRI), said: "We selected Pond's technology because it has the potential to produce microalgae at scale using CO2 emissions as feedstock. Spirulina was our first product of choice because of its high protein content together with other functional properties such as immune stimulation, anti-inflammatory and anti-oxidant effects. The study by the NRC complements the existing knowledge about spirulina being a high value ingredient for aquaculture feed."

About Pond Technologies Holdings Inc.:

Located in Markham, Ontario, Pond Technologies has developed a proprietary system that can profitably transform CO2 into valuable products. Its Pond Carbon business focuses on absorbing greenhouse gas emissions, transforming these into food, feed, and nutraceutical ingredients. Pond recently added a Biotech division focused on the growth of unique strains of microalgae to be used as a reproductive medium for the expression of human antibodies and proteins.

For more information, please visit https://www.pondtech.com/.

Forward-Looking Statements

This press release contains forward‐looking statements within the meaning of applicable securities laws, including statements regarding the anticipated production of spirulina and other algae-based animal feed ingredients and the anticipated high protein content thereof, and the build out of the pilot plant and of the related science behind the product. Such forward‐looking statements are based on certain key expectations and assumptions made by Pond, including, among others, assumptions regarding the completion of the build out of the plant and related science, expected cultivation, commercialization and quality of the spirulina produced, and assumptions regarding achieving milestones, negotiating financing arrangements on terms acceptable to Pond, the continued legislative regime in which Pond operates, availability of cost‐effective labour and supplies, the proper functioning of Pond's technology, the demand for Pond's products, the ability of Pond to successfully compete, cash flow and expenses, and obtaining and maintaining intellectual property protection. Although Pond believes that the expectations and assumptions on which such forward‐looking statements are based are reasonable, undue reliance should not be placed thereon and Pond can give no assurance that they will prove to be correct. By its nature, such forward‐looking statements are subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed, including the risks set forth in Pond's management's discussion and analysis of financial condition and results of operations for its year ended December 30, 2021, available on Pond's profile on SEDAR at www.sedar.com.

Readers are cautioned not to place undue reliance on this forward‐looking information, which is given as of the date hereof, and to not use such forward‐looking information for anything other than its intended purpose. Pond does not undertake any obligation to update publicly or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither 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 news release.

For further information contact: Grant Smith, Chief Executive Officer, at g.smith@pondtech.com, 416-287-3835 ext. 201

SOURCE: Pond Technologies Holdings Inc.