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Pond Technologies and Livalta, an AB Agri Company, Agree to Create World's First Scalable Algae Plant utilizing Carbon Emissions for the Production of Protein used in Animal Feed
Supply and Licensing Agreement with Livalta Valued at over $5 Million MARKHAM, ON / ACCE...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"Pond Technologies and Livalta, an AB Agri Company, Agree to Create World’s First Scalable Algae Plant utilizing Carbon Emissions for the Production of Protein used in Animal FeedSupply and Licensing Agreement with Livalta Valued at over $5 MillionMARKHAM, ON / ACCESSWIRE / September 8, 2021 / Pond Technologies Holdings Inc. (\"Pond\") (TSX.V:POND); (OTCQB:PNDHF); (FSE:4O0), an ESG company addressing global sustainability challenges of protein shortages and climate change, announces it has been engaged by Livalta, an AB Agri company, a subsidiary of Associated British Foods (LSE:ABF) for the joint commercialization of algae-based animal feed ingredients.In an agreement dated September 7, 2021, Livalta and Pond have agreed to an exclusive global partnership to grow algae-based animal feed from CO2 emissionsThe engagement consists of two parts: a supply agreement, where AB Agri will purchase an algae demonstration system from Pond to be installed in the UK for the sum of approximately CAD$2.9 million and a license agreement, where Pond will receive up to CAD$2.6 million in technology access fees and an ongoing royalty based on the production from commercial algae plants deployed in the futureThe demonstration system will be used to grow algae strains for animal feed trials and the development of commercial animal feeds which will be sold by AB Agri.Livalta's pilot plant currently anticipated to open at British Sugar's Wissington site in Norfolk in 2022A pioneering global partnership between responsible protein specialists Livalta and Pond will 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.The first product will be spirulina, combining 60% protein with essential vitamins and minerals. Spirulina is known for its nutritional and functional value both in food and animal feed.Spirulina (and other algae) are gaining increasing attention as a potentially game-changing animal feed ingredient. Until now, the technology to produce algae, at the scale, quality and cost required to be an affordable ingredient for animal feed, has remained elusive. This exclusive partnership, which brings together Pond's ground-breaking technology with Livalta's expertise in new proteins for animal feeds, is set to chang...