VANCOUVER, BC, Feb. 3, 2021 /CNW/ - Pontus Protein Ltd. ("Pontus" or the "Company") (TSXV: 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.[1] 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.[2]
About Pontus Protein Ltd
Pontus Protein Ltd. makes pure plant-based protein powder sourced from nutritious water lentils, farm-grown in Vancouver, BC, with development plans to expand to Surrey, B.C.. Not only does Pontus Protein Powder exceed certified organic standards, but it's also gluten-free, pure and allergen safe. It's jam-packed full of antioxidants, minerals, vitamins and ALL the essential amino acids. This is not your average lentil, these are water lentils; a crop that can be harvested every 24 hours in an indoor aquaponic farm that uses 95% less water than traditional agriculture, using Pontus' proprietary Closed Environment Vertical Aquaponics System (or CEVAS™) aquaponic agritech technology. This is wonderful news for a planet populated with us hungry and health-conscious humans.
On behalf of the Board of Directors,
Connor Yuen
Chief Executive Officer
(778) 999-3353
Forward-Looking Information
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 timeline for the approval of the Facility's construction application and subsequent leasehold improvements, the anticipated benefits of Pontus' CEVASTM system on the production of its water lentils as well as its ability to revolution traditional agricultural production techniques, and the anticipated growth of the North American plant-based protein market and its causes. 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. The 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 the necessary approval from the City of Surrey for its proposed leasehold improvements, the inability to complete the Facility's leasehold improvements, as well as other general business, economic, or market related risks beyond the director control of the Company. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
[1] | "Protein Supplements Market Size, Share & Trends Analysis Report By Product (Powder, Ready to Drink), By Application, By Raw Material, By Source, By Distribution Channel, By Region, And Segment Forecasts, 2019 - 2025", Grand View Research (April 2018), online: https://www.grandviewresearch.com/industry-analysis/protein-supplements-market. |
[2] | "Global Plant-Based Protein Market with Focus on Plant-Based Meat: Insights, Trends and Forecast (2020-2024)" Research and Markets (February 2020), online: "https://www.researchandmarkets.com/reports/4992292/global-plant-based-protein-market-with-focus-on" |
SOURCE Pontus Protein Ltd.
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PONTUS PROTEIN LTD. 
