Business
Pond Technologies Holdings Inc. enters into non-exclusive Technology Licence Agreement with UK-based Remediiate, providing Pond with minimum payment of CDN$500,000 per annum through December 31, 2021 and thereafter CDN$2,000,000 per annum until December 31, 2024.
Pond Technologies Holdings Inc. enters into non-exclusive Technology Licence Agreement wit...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n\n\n\nPond Technologies Holdings Inc. enters into non-exclusive Technology Licence Agreement with UK-based Remediiate, providing Pond with minimum payment of CDN$500,000 per annum through December 31, 2021 and thereafter CDN$2,000,000 per annum until December 31, 2024.\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMARKHAM, ON, March 23, 2020\n\n\n\nMARKHAM, ON, March 23, 2020 /CNW/ - Pond Technologies Holdings Inc. (the \"Corporation\" or \"Pond\") (TSX.V: POND), (OTCQB: PNDHF) an ESG company addressing global sustainability challenges of climate change and nutrition, announces that it has, through its subsidiary, Pond Technologies Inc., signed a non-exclusive licensing agreement with London based Remediiate (UK) Ltd. (https://www.remediiate.com/) who intends to develop projects and sell solutions and algae in the UK and Europe focused on the animal feed and aquaculture markets.\nUnder the terms of the licensing agreement, Remediiate will have the non-exclusive right to use Pond's patents and know-how related to the growth of microalgae and cyanobacteria and related biomass in connection with the development, manufacture, promotion, marketing, advertisement, sale and distribution of certain licensed products of Pond, including its gas management skid, dosing/harvesting/conditioning skid and PLC programming, in the countries and principalities of continental Europe as well as the United Kingdom. Remediiate will also have the right to provide consultancy, installation and support services in respect of such licensed products in such jurisdictions. In addition, Remediiate has the exclusive right in such jurisdictions to sell or otherwise supply the licensed products to certain identified companies.\nThe term of the license is 5 years (or upon the earlier expiration of all the patents and where there is no possibility of any applications in the patents proceeding to grant) and is automatically renewable thereafter for an additional 5 years provided Remediiate is in material compliance with the agreement at that ti...