Base Carbon Reports Year End 2025 Operating and Financial Results

Core Insights - Base Carbon Inc. reported its year-end 2025 consolidated financial results, highlighting advancements in its project portfolio and financial performance [1][3]. Company Highlights - The company achieved significant milestones in 2025, including the first issuances under a new methodology in Rwanda and compliance-market tagging, which enhanced its project portfolio [3]. - The CEO emphasized a focus on disciplined risk management and unlocking value within the current portfolio and contractual project expansion options [3]. Financial Results - As of December 31, 2025, the company had total assets of $108.9 million, including $5.7 million in cash, $79.2 million in investments in carbon credit projects, and $21.2 million in carbon credit inventory [4][7]. - The company recorded net earnings of $0.2 million, with $1.8 million from realized cash settled gains and $11.3 million from unrealized gains on carbon credit investments [5]. - Total liabilities were $8.4 million, primarily from deferred income tax liabilities [4]. Project Developments Rwanda Cookstoves Project - The project achieved Verra's CORSIA-eligible designation, enhancing monetization pathways and pricing visibility [5][8]. - Approximately 2.0 million carbon credits have been issued under the new VM0050 methodology, with the first sales generating net proceeds of approximately $0.7 million [9]. Vietnam Household Devices Project - The project completed Phase 1, issuing approximately 7.4 million carbon credits and generating $1.8 million in cash proceeds in 2025 [10]. - The project has entered Phase 2, allowing Base Carbon to purchase future carbon credits at a fixed price, providing growth optionality [12]. India ARR Project - The project completed the planting of approximately 6.5 million trees and transitioned to Verra's updated VM0047 methodology [13]. - Cumulative capital deployed in the project was approximately $8.2 million, with ongoing validation and verification activities [15].