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INVENTIV CAPITAL MANAGEMENT ISSUES LETTER OF INTENT TO FUND US$100 MILLION IN POND TECHNOLOGIES PROJECTS

 

 

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Inventiv Capital Management, a sustainability-focused private equity investment firm based in Greenwich, Conn., has entered into a letter of intent with Pond Technologies Holdings Inc., (POND.V) pursuant to which Inventiv has agreed to provide $100-million (U.S.) in project financing. The letter of intent calls for the creation and financing of a special-purpose vehicle to develop a diversified portfolio of projects implementing Pond's algae-based emissions abatement solution to be co-located next to industrial emitters of greenhouse gases (power plants and refineries). Inventiv and its affiliates will be actively engaged in developing projects by sourcing opportunities for deployment of Pond's technology, and financing will be released upon the completion of final due diligence on a project-by-project basis. These investments will not be in Pond directly and will not result in the issuance of any Pond equity.

Inventiv's chief executive officer, Paulus Ingram, said: "Inventiv is delighted to have the opportunity to channel institutional capital into sustainable infrastructure. Pond's solution clearly supports the U.N. (United Nations) sustainable development goals through reduction of greenhouse gases and is a prime example of innovation that recognizes that pollution is actually a resource out of place, and, by relocating these resources, there is profitability, growth and a healthy virtuous cycle for future generations."

Steve Martin, chief executive officer and founder of Pond, noted: "We're very happy to have Inventiv as a partner that shares our sustainability vision and that has the resources to source projects and finance our rapid growth. Inventiv understands the significant impact that our technology can have upon not only the reduction of greenhouse gases worldwide, but the conversion of those gases into valuable, sustainable algae products that can provide new sources of alternative proteins, fertilizer, fuels and other industrial applications, thereby providing solutions to multiple globally pressing issues."

About Pond Technologies Holdings Inc.

Located in Markham, Ont., Pond Technologies has developed a proprietary growth platform that can transform carbon dioxide (CO2) from virtually any source into valuable bio-products. Pond works with the cement, steel, oil and gas and power generation industries to reduce greenhouse gas emissions and generate new revenue streams. Pond's platform technology also includes the growth of algae superfoods for the nutraceutical and food additive markets. Pond's system is capable of growing many species of algae, including strains that produce anti-oxidants, omega-3 fatty acids, and protein for human and animal consumption.