Carbon Streaming Corporation (NEO: NETZ) (OTCQB:
OFSTF) (FSE: M2Q) (“Carbon Streaming” or the
“Company”) is delighted to announce that it will provide
Microsoft with carbon removal credits from the Waverly Biochar
project in Waverly, Virginia. The Waverly Biochar project is
expected to deliver up to 10,000 tonnes of carbon dioxide removal
credits per year towards Microsoft’s carbon negative target.
“We are delighted to be working with Microsoft to provide them
with high quality and scalable carbon dioxide removals to support
their carbon negative commitment. We’re particularly excited about
the capacity for biochar to scale this decade with support from
visionary organizations such as Microsoft,” said Oliver Forster,
Vice President of Sales at Carbon Streaming.
“We’re pleased to work with Carbon Streaming to support the
development of biochar as a carbon removal approach through the
Waverly Biochar project. Carbon Streaming’s capacity to provide
project-level finance is an important part of scaling this industry
and it ensures we can focus on procuring carbon removal from high
quality projects,” said Brian Marrs, senior director, energy and
carbon, Microsoft.
Producing biochar and burying it in soils is a way of storing
carbon for centuries. According to Project Drawdown, biochar could
scale to sequester between 1.36–3.00 gigatons of carbon emissions
by 2050, equivalent to between two and four and a half years of
Canada’s 2021 carbon emissions.
Achieving gigaton scale will require building both supply and
demand, and corporations can support the growth of the industry by
committing to offtake of the carbon removal credits from biochar
projects. Microsoft is playing a key role through their commitment
to offtake verified carbon dioxide removal generated by the Waverly
Biochar facility.
“Alongside other nature-based and technological carbon removal
solutions, we see biochar as a vital piece of the puzzle for
corporations with net zero commitments. Its capacity to scale and
deliver relatively cost-effective removals towards corporate
commitments this decade are standout attributes” added Mr.
Forster.
Carbon Streaming’s approach provides project capital to project
developers, enabling them to accelerate their projects. This also
provides a major benefit to corporations using carbon credits as
part of their climate strategies. Rather than having to provide
upfront capital to climate projects, corporations can instead
commit to purchasing the verified removal upon issuance. This
relationship between Carbon Streaming, project developer and
corporate end users aims to remove a key barrier to corporate
action – internal ability to invest upfront.
About Carbon Streaming
Carbon Streaming aims to accelerate a net-zero future. We
pioneered the use of streaming transactions, a proven and flexible
funding model, to scale high-integrity carbon credit projects to
advance global climate action and additional United Nations
Sustainable Development Goals. This approach aligns our strategic
interests with those of project partners to create long-term
relationships built on a shared commitment to sustainability and
accountability and positions us as a trusted source for buyers
seeking high-quality carbon credits.
The Company’s focus is on projects that have a positive impact
on the environment, local communities, and biodiversity, in
addition to their carbon reduction or removal potential. The
Company has carbon credit streams and royalties related to over 20
projects around the world, including high-integrity carbon removal
and avoidance projects from nature-based, agricultural, engineered
and community-based methodologies.
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Advisories
The references to third party websites and sources (including
information with regards to Project Drawdown) contained in this
news release are provided for informational purposes and are not to
be considered statements of the Company.
Cautionary Statement Regarding Forward-Looking
Information
This news release contains certain forward-looking statements
and forward-looking information (collectively, “forward-looking
information”) within the meaning of applicable securities laws. All
statements, other than statements of historical fact, that address
activities, events or developments that the Company believes,
expects or anticipates will or may occur in the future, are
forward-looking information, including, without limitation,
statements regarding the expected amount of future carbon removal
credits from the Waverly Biochar project and statements with
respect to execution of the Company’s portfolio and partnership
strategy.
When used in this news release, words such as “estimates”,
“expects”, “plans”, “anticipates”, “will”, “believes”, “intends”,
“should”, “could”, “may” and other similar terminology are intended
to identify such forward-looking statements. This forward-looking
information is based on the current expectations or beliefs of the
Company based on information currently available to the Company.
Forward-looking information is subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
information, and even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, the Company. They
should not be read as a guarantee of future performance or results,
and will not necessarily be an accurate indication of whether or
not such results will be achieved. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things: volatility in prices of carbon credits
and demand for carbon credits; change in social or political views
towards climate change and subsequent changes in corporate or
government policies or regulations and associated changes in demand
for carbon credits; limited operating history for the Company’s
current strategy; risks arising from competition and future
acquisition activities; concentration risk; inaccurate estimates of
growth strategy, including the ability of the Company to source
appropriate opportunities and enter into stream, royalty or other
agreements; dependence upon key management; reputational risk;
general economic, market and business conditions and global
financial conditions, including fluctuations in interest rates,
foreign exchange rates and stock market volatility; uncertainties
and ongoing market developments surrounding the validation and
verification requirements of the voluntary and/or compliance
markets; failure or timing delays for projects to be registered,
validated and ultimately developed and for emission reductions or
removals to be verified and carbon credits issued (and other risks
associated with carbon credits standards and registries); foreign
operations and political risks including actions by governmental
authorities, including changes in or to government regulation,
taxation and carbon pricing initiatives; due diligence risks,
including failure of third parties’ reviews, reports and
projections to be accurate; dependence on project partners,
operators and owners, including failure by such counterparties to
make payments or perform their operational or other obligations to
the Company in compliance with the terms of contractual
arrangements between the Company and such counterparties; failure
of projects to generate carbon credits, or natural disasters such
as flood or fire which could have a material adverse effect on the
ability of any project to generate carbon credits; volatility in
the market price of the Company’s common shares or warrants; the
effect that the issuance of additional securities by the Company
could have on the market price of the Company’s common shares or
warrants; global health crises, such as pandemics and epidemics,
including the COVID-19 pandemic; and the other risks disclosed
under the heading “Risk Factors” and elsewhere in the Company’s
Annual Information Form dated as of March 28, 2023 filed on SEDAR+
at www.sedarplus.ca.
Any forward-looking information speaks only as of the date of
this news release. Although the Company believes that the
assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put
on such statements due to the inherent uncertainty therein. Except
as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking
information, whether as a result of new information, future events
or results or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230920637475/en/
ON BEHALF OF THE COMPANY: Justin Cochrane, President
& Chief Executive Officer Tel: 647.846.7765
info@carbonstreaming.com www.carbonstreaming.com
Investor Relations investors@carbonstreaming.com
Media media@carbonstreaming.com
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