MARKHAM, ON, April 15, 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, today is providing a corporate update on recent business activities, including the appointment of Grant Smith as Chief Executive Officer of Pond Technologies Holdings Inc. Mr. Smith will succeed Steven Martin, who has retired from his position as Chief Executive Officer, effective immediately. Mr. Martin will remain involved with the company as a technology advisor, assisting with the continued advancement of Pond’s proprietary growth platform. In addition, Kevin Andrade will be stepping down from his role as Chief Operational Officer but will remain as a strategic advisor focusing on partnerships and major projects.
As part of a comprehensive corporate succession review and planning process conducted by the Board of Directors, the decision was made to name Mr. Smith, Chief Executive Officer. Mr. Smith has served as President of the Corporation’s subsdiary, Pond Naturals, since December, 2018. Mr. Smith is a 25-year veteran of the North American nutraceutical industry and has a strong track record of building strategic relationships and driving sustainable growth within an organization. Mr. Smith will be responsible for shepherding a company-wide effort to increase sales across all divisions as well as supporting Pond’s technology licensing efforts through the sourcing of off-take contracts for the high-value algae products that Pond’s technology produces.
“The Corporation wishes to thank both Steven and Kevin for their service,” said Cameron Mingay, Chairman of the Board. “We look forward to calling upon their valued skillsets as Pond aggressively pursues the licensing of its technology to projects around the world. Pond remains fully focused on monetizing its extensive intellectual property assets through a high-margin licensing and royalty revenue model that we believe will benefit all stakeholders. We have full confidence in Grant to lead the company forward with its strategic plan.”
“Our team has been working tirelessly to implement Pond’s strategic vision,” said Mr. Smith, Chief Executive Officer. “As incoming CEO, I look forward to building on Pond’s foundation of achievement, and leading the team in its focus on sustainable revenue growth. I want to thank the Board of Directors for their vote of confidence and look forward to ever greater successes for Pond.”
Pond is also pleased to announce that its Agassiz, British Columbia plant has been awarded a COVID-19 site license from Health Canada and has been awarded a contract to manufacture hand sanitizer. Production is expected to begin the week of April 20th and the Corporation has already received an order for 3,200L of hand santitizer with a request for additional volumes.
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/.
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SOURCE Pond Technologies Holdings Inc.
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