Pontus Submits Building Permit Application For Surrey Aquaponics Facility
Posted on February 3, 2021
VANCOUVER, BC – February 3, 2021 – Pontus Protein Ltd. (“Pontus” or the “Company”) (TSX-V: HULK), is pleased to announce it has made significant progress towards the development of its state of the art, integrated aquaponics facility located in Surrey, British Columbia, Canada (the “Facility”).
The Company has submitted a construction application to the City of Surrey for its 20,570 square foot. aquaponics facility. The approval process is estimated to be completed within 6 weeks and is expected to be followed by the immediate commencement of construction of the Facility’s leasehold improvements. Accordingly, the leasehold improvements are to consist of a complete retrofit of the Facility to establish Pontus’ solar-powered, water recycling CEVASTM aquaponic system. The installation of all required equipment for the growth and production is forecasted to take between four and six months to complete. Upon completion, the Facility will be approximately 20 times the size of Pontus’ prior prototype facility. The prototype facility has been used to test and develop the technology for the Company’s proprietary growing process.
The Facility (see image 1 and video) will utilize an array of additional technologies to create a clean and sustainable aquaponics ecosystem. Solar energy panels will be installed to capture renewable energy and power the closed-loop water system, which recycles up to 95% of all water inputs. The implementation of the Facility’s unique, sustainable technology in conjunction with Pontus’ proprietary CEVAS™ automated growth technology will allow the Company to emphasize biosecurity in its agricultural production processes, removing the need for additional chemicals, pesticides, and other non-native components.
Pontus CEO, Conner Yuen states: “Entering the construction application process is a major milestone for the Company as we move toward the commissioning of the Facility. Our aim is to create a state of the art process that will incorporate the latest in sustainable agriculture technology. The ability to implement this highly efficient technology solves many issues we see with current methods of food production such as land scarcity and low yields and contamination. Pontus’ biosecurity and renewable food sources are intended to create a proactive solution to these issues by reducing the potential for contamination and the need for pesticides. Pontus hopes the Facility will revolutionize how traditional agriculture is conducted and show the power of technological food advancements.”
Plant-based Protein Powder Market
The Company’s plant-based protein powder is a premium entry into the global protein and supplements market, which is currently valued at USD$15 Billion and is expected to grow to USD$20 Billion by 2025 according to Grand View Research. This growth is expected to be fuelled by many North Americans reducing or eliminating the regular consumption of animal products. The North American plant-based protein market is also anticipated to grow at a compound annual growth rate of 14% from 2019 through 2025.
About Pontus Protein Ltd.
Pontus Protein Ltd. is a Vancouver, B.C. based agricultural technology company that will enable millions to rethink their food choices while helping people do the world a world of good. By offering sustainably grown plant based food options that are nutritious and delicious, we’re helping this kind of diet become the norm.
Pontus is reinventing agriculture with their proprietary Closed Environment Vertical Aquaponic System (CEVAS) – the farming of the future. Pontus specializes in the indoor vertical farming of water lentils that use 95% less water than traditional agriculture and no pesticides or chemicals. Pontus is committed to solving the global food crisis by providing access to sustainable indoor biosecure pure plant based proteins. Pontus’ water lentils can be harvested every 24 hours, exceed organic certification, and can be grown in any climate in a relatively small area. Our water lentil protein is filled with antioxidants, minerals, vitamins and all the amino acids, making a complete protein food source. Pontus aims to revolutionize the plant based sector as the entire sector is currently based on two main protein sources: soy and pea. Water lentil protein is far superior to pea and soy protein. It contains over 40% protein vs. 5-36% protein*, and Pontus aims to be the base protein for plant based food products, leading to the movement transitioning the world from meat based to plant based proteins.
To learn more, please visit www.pontuswaterlentils.com.
On behalf of the Board of Directors
Connor Yuen, CEO
Pontus Protein Ltd.
For more information, please contact:
Connor Yuen Chief
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Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the anticipated use of proceeds of the Offering, Including those from the Second Tranche, by the Company and Pontus’ ability to revolutionize the plant based sector and enable millions to rethink their food choices. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. These risks include, but are not limited to, the following: the unknown magnitude and duration of the effects of the COVID-19 pandemic, the failure of Pontus to receive TSX Venture Exchange approval for the closing of the remainder of the Offering, Pontus’ inability to close further tranches of the Offering, the failure of Pontus to receive the necessary approvals from the Canadian Food Inspection Agency for its products and facilities, the inability to complete Pontus’ Surrey Facility, as well as other general business, economic, or market related risks beyond the director control of the Company and which may affect the Company’s business, operations, or products. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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