POND Biofuels Inc.

December 16, 2009 14:52 ET

Pond Biofuels Inc., CO2 Remediation and Renewable Fuel Production Demonstration Plant for GHG Emitting Industries Receives Support From the Asia Pacific Partnership

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2009) - On December 3rd 2009, Canadian Prime Minister Stephen Harper announced approval of the project proposal submitted by Pond Biofuels Inc. under the Asia-Pacific Partnership (APP) on Clean Development and Climate program.

The approved project includes funding in support of its biomass from microalgae demonstration plant at St. Marys, Ontario as well as a feasibility study to assess the suitability of its technology to the cement industry in China.

APP partners Australia, Canada, China, India, Japan, Korea, and the United States have agreed to work together and with private sector partners to meet goals for energy security, national air pollution reduction, and climate change in ways that promote sustainable economic growth and poverty reduction. The Partnership is focused on expanding investment and trade in cleaner energy technologies, goods and services in key market sectors. The seven partner countries collectively account for more than half of the world's economy, population and energy use, and they produce about 65 percent of the world's coal, 62 percent of the world's cement, 52 percent of world's aluminum, and more than 60 percent of the world's steel.

Directly connected to the raw stack gas of the cement plant located at St. Marys Ontario, Pond Biofuels is utilizing CO2 emissions to grow and harvest high value biomass from microalgae.

"Pond Biofuels is honoured to have our project internationally recognized. It reflects not only upon the abilities of our company, but upon the ongoing support of our industrial partner and investors like the Ontario Centres of Excellence" said Steven Martin, CEO, Pond Biofuels.

About Pond Biofuels Inc.

Pond Biofuels is in the business of utilizing GHG from major industrial emitters to produce high value biomass from microalgae. Through the implementation of a proprietary continuous growth and harvest process, Pond Biofuels has successfully taken a multidisciplinary approach to algae industry challenges of process and scalability.

About Ontario Centres of Excellence (OCE)

The Ontario Centres of Excellence is the pre-eminent research-to-commercialization vehicle in Ontario, OCE facilitates economic growth through support for industrially relevant R&D, the opening of new market opportunities and the commercialization of leading edge discoveries.

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