MARKHAM, ON / ACCESSWIRE / May 27, 2021 / 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, is pleased to announce that its wholly-owned subsidiary, Pond Naturals, has received a white label order for 5,000 bottles of Astaxanthin from a U.S. client.
Pond Naturals operates a 10,000 square foot algae production facility, in Agassiz, British Columbia, Canada. Pond Naturals sells algae, health food, and supplement ingredients generated from its own Regenurex brand and from third party producers. Pond Naturals' Astaxanthin is unique because it uses a proprietary natural extraction process that is both sustainable and environmentally friendly.
The Astaxanthin market is encumbered by the high cost of production and quality that can vary widely between manufacturers. Pond Naturals sees itself as a market leader in quality of natural Astaxanthin. Backed by controlled bioreactors and a proprietary natural extraction process where the product is never dehydrated or exposed to harsh chemicals, the quality of Pond Narural's Astaxanthin is high and is characterized by a sweet flavour profile rather than the fishy smell that is often experienced by many manufacturers. The primary advantages of naturally produced Astaxanthin are safety, efficacy, and sustainability. Natural Astaxanthin also has anti-inflammatory properties, which provides additional benefits for skin, joint, and eye health.
As compared to 2019, Pond Naturals revenue grew 24% in 2020 to nearly $4.5 million. With continued strong re-order levels, new client onboarding, and ongoing discussions in regard to entering new formulation verticals with CPG and CBD companies, Pond anticipates continued growth in 2021 and beyond. Additionally, Pond Naturals' existing customers are increasing order volume, resulting in more predictable cash flow. Pond Naturals will also be launching a powdered Astaxanthin product, which is generating strong early demand.
"We believe that growing consumer knowledge about the benefits of natural Astaxanthin and the risks of synthetic antioxidants has led to increased demand for natural antioxidants like Astaxanthin," commented CEO, Grant Smith. The importance of increasing consumer awareness about the benefits of natural Astaxanthin and its role within the natural products market is the key in continuing to aggressively scale Pond Naturals. We are excited to have received our first white label order and anticipate additional white label orders through 2021. Moreover, we will continue to have dialogue with a variety of verticals where our natural Astaxanthin can be applied and believe the sphere of opportunity continues to significantly grow."
About Pond Technologies Holdings Inc.:
Located in Markham, Ontario, Pond is a technology company that provides profitable solutions to the global health and wellness challenges of climate change and nutrition. Pond's proprietary growth platform, including patented advanced photonics, optimizes key growth inputs in order to provide a controlled environment that maximizes the growth of algae and other organisms. This enables industrial emitters to generate new revenue streams from the transformation of underutilized CO2 to valuable algae-based products, such as protein for animal feed and nutraceutical products like Chlorella, Spirulina, and Astaxanthin for human consumption. For more information 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 sustainability of its extraction process, continued quality of products, anticipated health benefits, expected advantages of naturally produced Astaxanthin, anticipated growth, operating efficiency, expected business relationships involving new formulation verticals, and the manufacturing of and expected demand for new products. Such forward-looking statements are based on certain key expectations and assumptions made by Pond, including, among others, assumptions regarding the continued legislative (including tax) regime in which Pond operates, the successful negotiation of binding agreements to give effect to business relationships under negotiation, availability of cost-effective labour and supplies, the proper functioning of Pond's technology, the quality of the algae produced, 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 31, 2020, 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 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.
For further information contact: Grant Smith, Chief Executive Officer, at g.smith@pondtech.com, 416-287-3835 ext. 201; or Cole Stevens at c.stevens@pondtech.com.
SOURCE: Pond Technologies Holdings Inc.
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