In the face of a cap and trade program instituted in Ontario, the cement plants in the region have taken an active role in investigating means to reduce their carbon (and tax) footprints. In the past several years, St. Mary’s Cement has been a showcase facility of the algal bioreactor systems developed by Pond Technologies. Indeed, during the 2015 IEEE-IAS/PCA conference held in Toronto, the plant tour at the St. Mary’s plant in Bowmanville included a demonstration of the technology.
While the company has recently been listed on the Toronto Stock Exchange, the latest news from Pond Technologies and St. Mary’s Cement is the acquisition of shares in the company by St. Mary’s Cement. As discussed in various press releases, St. Mary’s sees the potential in the process developed, and appears to be backing up it’s statements in this purchase.