Business
Inventiv Capital Management issues Letter of Intent to fund US$100 Million in Pond Technologies Projects
Inventiv Capital Management issues Letter of Intent to fund US$100 Million in Pond Technol...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n\n\n\nInventiv Capital Management issues Letter of Intent to fund US$100 Million in Pond Technologies Projects\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, June 25, 2018\n\n\n\nCALGARY, June 25, 2018 /CNW/ - Pond Technologies Holdings Inc. (\"Pond\") (TSX.V: POND) today announced that Inventiv Capital Management (\"Inventiv\"), a sustainability focused private equity investment firm based in Greenwich, Connecticut, has entered into a letter of intent (\"LOI\") with Pond pursuant to which Inventiv has agreed to provide US$100 Million in project funding. The LOI calls for the creation and funding of a special purpose vehicle (\"SPV\") to develop a diversified portfolio of projects implementing Pond's algae-based emissions abatement solution to be co-located next to industrial emitters of greenhouse gases (power plants, refineries, etc.). Inventiv and its affiliates will be actively engaged in developing projects by sourcing opportunities for deployment of Pond's technology, and funding will be released upon the completion of final due diligence on a project-by-project basis.  These investments will not be in Pond directly and will not result in the issuance of any Pond equity.\n\nInventiv's CEO Paulus Ingram said \"Inventiv is delighted to have the opportunity to channel institutional capital into sustainable infrastructure.  Pond's solution clearly supports the U.N. Sustainable Development Goals through reduction of greenhouse gases and is a prime example of innovation that recognizes that pollution is actually a resource out of place, and by relocating these resources there is profitability, growth and a healthy virtuous cycle for future generations.\"\n\nSteve Martin, CEO and founder of Pond notes \"We're very happy to have Inventiv as a partner that shares our sustainability vision, and that has the resources to source projects, and finance our rapid growth. Inventiv understands the significant impact that our technology can have upon not only the reduction of greenhouse gases worldwide, but the conversion of those g...