The concept of Verpond as a firm emerged as part of a discussion considering how to produce algal biomass in quantities and at low prices that had not been previously unobtainable. Due to their rapid growth rates compared to conventional agricultural products -- Algae had been long time touted as an alternative source of biomass for fertilizer, food, fuel, and other bio-based products. However, outcomes of this type have failed to materialize because of the incompatibility of conventional algae production systems with large scale operations and their inherently high costs. The NSF SBIR Phase I grant is allowing Verpond to work with various academic and non-profit collaborators to demonstrate proof of concept for its designs. Initial work focused on finite element analyses of the cultivation system and scaled down continuous production of biomass. Current and future activities involve development of improved cultivation system infrastructure components, scale model wave tank testing of the system, construction of a research and development cultivation system, and continuous growth of algae at increasingly larger scales until full scale commercial production is achieved.