Pond Technologies

Canada-based Pond Technologies (Pond) uses carbon dioxide (CO2) emissions to produce algae and, thereafter, algae-based commercial products. The company states that it can produce one ton of algae from two tons of CO2. Pond’s technology facilitates various algae strains (such as chlorella, spirulina, astaxanthin, etc.) and algae-based products such as nutraceuticals, animal feeds, natural fertilizers, and biofuels. 

As of November 2021, Pond produces algae-based nutraceuticals (Pond’s only commercialized product) at its 10,000-square-foot algae production facility in British Columbia. The company generated revenue of USD 4.8 million in 2020 (USD 3.5 million in 2018) and an operating loss of USD 3.3 million in the same year.

Pond had also developed a containerized algae-growing platform. As of April 2021, the platform was priced at USD 1.9 million per unit, and the company quoted five units to be sold in the UK, US, EU, and Asia. In November 2021, Pond Technologies partnered with Malone Group (an Irish engineering and safety project delivery company) to pursue international projects and accelerate the commercialization of its algae-based platform. In June 2022, the company also partnered with SEM Energy , (a Scottish sustainable technology company) to remove 10,000 metric tons of CO2 from a waste-to-energy gas stack in Scotland. 

In February 2018, Pond was listed on the TSX Venture Exchange, raising USD 8.7 million. The company’s last funding event in July 2020 raised USD 1 million in a post-IPO equity round.