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Base Carbon Announces First CORSIA-Eligible Tagged Credits and Sales
Globenewswire· 2026-02-02 12:30
Core Insights - Base Carbon Inc. has achieved full eligibility and tagging for its Rwanda Cookstoves Project under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), marking a significant milestone for the company [1][2] - The project is among the first globally to receive CORSIA-eligible designation, allowing for immediate sales in the global aviation carbon offsetting markets, with demand for Phase 1 of CORSIA estimated to reach between 146 to 236 million credits [2] - The company has contracted 300,537 CORSIA-eligible credits for sale, representing its first monetization of these credits, with financial settlements expected in the coming weeks [3] Company Operations - Base Carbon's Rwanda project partner, DelAgua Group, completed necessary technical requirements for CORSIA eligibility, including migrating to the latest methodological standard and securing insurance coverage [2] - Prior to sales, Base Carbon held 1,076,230 VM0050 Rwanda carbon credits, which now includes 733,874 CORSIA-eligible credits and 342,356 VM0050 credits included in Rwanda's first Biennial Transparency Report [4] - The company anticipates regular carbon credit issuances on a biannual basis following a methodological update last fall [4] Market Positioning - The CEO of Base Carbon emphasized that CORSIA tagging is a key validation milestone for the company's strategy, and initial sales confirm the business model and asset positioning [5] - With increasing demand from global airlines and limited supply of eligible credits, the company is well-positioned to capture value through expanded monetization opportunities as the CORSIA market matures [5] - Base Carbon aims to be a preferred partner in the global voluntary carbon markets, providing capital and management resources to carbon removal and abatement projects [6]
Carbon Streaming Announces Amendment to Azuero Reforestation Carbon Removal Stream
Globenewswire· 2025-12-16 00:00
Core Viewpoint - Carbon Streaming Corporation has announced amendments to its carbon credit streaming agreement with Azuero Reforestación Colectiva, S.A. for the Azuero Reforestation Project in Panama, which will impact the project's scale and expected carbon credit generation [1][3]. Project Amendments - The project plan has been revised, reducing the area to be restored from 10,000 hectares to a minimum of 7,500 hectares, and the expected carbon dioxide equivalent (tCO2e) removal has decreased from 3.24 million tonnes to 2.32 million tonnes [2][3]. - If Carbon Streaming does not exercise its funding option, it will receive approximately 54,000 carbon credits, which is about 2.3% of the total credits [3]. Funding Options - Carbon Streaming has an option to participate in future funding, with an upfront deposit of US$1.2 million already paid. The option can be exercised by June 30, 2026, or June 30, 2027, requiring additional funding of US$4.6 million and US$3.8 million, respectively [3][4][5]. - If the option is exercised in the First Election Period, the project will restore a minimum of 9,539 hectares and remove 2.94 million tonnes of tCO2e, resulting in approximately 357,000 carbon credits (12.1% of total credits) [4]. - If the option is exercised in the Second Election Period, the project will restore a minimum of 9,050 hectares and remove 2.79 million tonnes of tCO2e, resulting in approximately 295,000 carbon credits (10.6% of total credits) [5]. Offtake Agreement - The offtake agreement between Microsoft and Carbon Streaming to purchase 100% of the carbon credits generated from the project through 2040 remains in place [6]. Financial Position - Carbon Streaming currently holds C$53.7 million in cash, has no debt, and has 48.5 million shares outstanding [7].
Carbon Streaming Announces Amendment to Azuero Reforestation Carbon Removal Stream
Globenewswire· 2025-12-16 00:00
Core Insights - Carbon Streaming Corporation has amended the terms of its carbon credit streaming agreement with Azuero Reforestación Colectiva, S.A. for the Azuero Reforestation Project in Panama [1][3] Project Amendments - The project plan has been revised and refined [2] - Carbon Streaming has no ongoing funding obligations but retains an option to participate in future funding, having already paid an upfront deposit of US$1.2 million [3] - The option can be exercised by Carbon Streaming on or before June 30, 2026, or June 30, 2027, requiring additional funding of US$4.6 million and US$3.8 million, respectively [3] Carbon Credit Generation - Initial carbon credit issuance is expected in 2029, continuing through to 2052 [3] - If the option is not exercised, the project will restore a minimum of 7,500 hectares and remove 2.32 million tonnes of CO2 equivalent, generating approximately 54,000 carbon credits [3] - If the option is exercised in the First Election Period, the project will restore a minimum of 9,539 hectares, remove 2.94 million tonnes of CO2 equivalent, and generate approximately 357,000 carbon credits [4] - If the option is exercised in the Second Election Period, the project will restore a minimum of 9,050 hectares, remove 2.79 million tonnes of CO2 equivalent, and generate approximately 295,000 carbon credits [5] Offtake Agreement - The offtake agreement between Microsoft and Carbon Streaming to purchase 100% of the carbon credits received from the project through 2040 remains in place [6] Financial Position - The company currently has C$53.7 million in cash, no debt, and 48.5 million shares outstanding [7]
Base Carbon Reports Third-Quarter 2025 Results
Globenewswire· 2025-11-04 22:00
Company Highlights - Base Carbon Inc. reported total assets of $111.8 million as of September 30, 2025, a slight decrease from $112.1 million on December 31, 2024 [3] - Total liabilities decreased to $8.9 million from $9.1 million, while total shareholders' equity remained relatively stable at $102.9 million compared to $103.0 million [3] - The company holds $8.0 million in cash and cash equivalents and has a carbon credit inventory valued at $23.1 million [3] Rwanda Cookstoves Project - An unrealized gain of approximately $11.8 million was recognized during Q3 2025, attributed to an increase in expected carbon credits and higher anticipated pricing [4] - The project has transitioned to Verra's VM0050 methodology, enhancing its eligibility for compliance markets like CORSIA [5][7] - The company expects to hold around 1.1 million VM0050 carbon credits in inventory post-quarter [5] Vietnam Household Devices Project - The project has entered Phase 2, allowing the company to purchase future carbon credits at $5 each, with total cash proceeds from sales reaching approximately $36.3 million [9] - The project has successfully returned 100% of its capital investment, generating a cash gain of about $15.5 million [9] India Afforestation, Reforestation, and Revegetation (ARR) Project - The company has expanded its contractual options to plant an additional 20 million trees, with the initial phase of 6.5 million trees already planted [10] - The project received comments from Verra regarding its validation submission, aligning with the company's expected timelines [11] Auditor Appointment - BDO Canada LLP has been appointed as the new auditor for the 2025 fiscal year, reflecting the company's commitment to high corporate governance standards [12]
Early Warning Press Release Regarding Acquisition of Common Shares in Carbon Streaming Corporation by Marin Katusa
Globenewswire· 2025-10-21 03:03
Core Viewpoint - Carbon Streaming Corporation's CEO, Mr. Marin Katusa, has acquired 74,500 common shares at a price of $0.67 per share, totaling $49,915, indicating a personal investment in the company [1]. Summary by Sections Acquisition Details - The Acquiror purchased 74,500 common shares at $0.67 each for a total of $49,915 [1]. - Prior to the acquisition, the Acquiror owned 4,101,000 common shares, representing approximately 8.5% of the total shares outstanding [2]. - After the acquisition, the Acquiror's total ownership increased to 4,175,500 common shares, approximately 8.6% of the total shares outstanding [3]. Warrant Information - The Acquiror held 1,170,000 common share purchase warrants before and after the acquisition [2][3]. - If all warrants were exercised, the Acquiror would control 5,345,500 common shares, representing approximately 10.8% on a partially diluted basis [3]. Purpose of Acquisition - The shares were acquired for investment purposes, with the potential for future acquisitions or disposals depending on market conditions [4]. Regulatory Compliance - The press release is issued in compliance with National Instrument 62-103, detailing early warning reporting requirements [5].
Base Carbon to Receive Carbon Credits Under CORSIA Approved VM0050 Methodology
Globenewswire· 2025-09-30 11:30
Core Insights - Base Carbon Inc. has received approval from carbon credit registry Verra for the CORSIA-compliant methodology VM0050 for its Rwanda Cookstoves project, marking a significant milestone for the company [1][2][3] Company Developments - The Rwanda Cookstoves project, developed by DelAgua Group, is transitioning to Verra's VM0050 methodology, which focuses on energy efficiency and fuel-switch measures in cookstoves [2] - Following the transition, the company anticipates holding approximately 1.0 to 1.2 million CORSIA-aligned carbon credits, which will be eligible for delivery into CORSIA and other compliance markets [3] - The CEO of Base Carbon emphasized that this transition enhances the value of the company's carbon credit inventory and positions it favorably in a market with increasing compliance obligations for airlines [5] Market Context - CORSIA requires international airlines to offset emissions growth above 85% of 2019 levels, creating immediate demand for CORSIA-eligible carbon credits [4] - Forecasts suggest that carbon credit prices in CORSIA Phase One (2024-2026) could rise to between US$26.00 and US$63.00 per tonne, indicating a structural shortfall in the current market [4]
Carbon Streaming Announces Receipt of Settlement Funds and Share Cancellation Pursuant to Settlement Agreement Related to Rimba Raya Project
Globenewswire· 2025-09-29 23:00
Core Insights - Carbon Streaming Corporation has successfully implemented a settlement agreement with Infinite-Earth Limited and related parties regarding the Rimba Raya Biodiversity Reserve Project [1][2]. Financial Summary - The company received a payment of US$650,000 from Infinite-Earth and cancelled 4,539,180 common shares, resulting in a total of 48,332,053 common shares outstanding [2]. - Carbon Streaming currently holds total cash of C$52.4 million (US$37.6 million), with no debt reported [3]. Company Overview - Carbon Streaming focuses on projects that generate high-quality carbon credits while positively impacting the environment, local communities, and biodiversity [4].
Carbon Streaming Announces Receipt of Settlement Funds and Share Cancellation Pursuant to Settlement Agreement Related to Rimba Raya Project
Globenewswire· 2025-09-29 23:00
Core Points - Carbon Streaming Corporation has successfully implemented a settlement agreement with Infinite-Earth Limited and related parties regarding the Rimba Raya Biodiversity Reserve Project [1][2] - The company received a payment of US$650,000 and cancelled 4,539,180 common shares, resulting in a total of 48,332,053 common shares outstanding [2] - Carbon Streaming currently holds C$52.4 million (US$37.6 million) in cash and has no debt [3] Financial Summary - Payment received from IE: US$650,000 [2] - Common shares cancelled: 4,539,180 [2] - Total common shares outstanding: 48,332,053 [2] - Total cash held: C$52.4 million (US$37.6 million) [3] - Cash breakdown: C$37.8 million and US$10.5 million [3] - Debt status: No debt [3] Company Overview - Carbon Streaming focuses on projects that generate high-quality carbon credits while positively impacting the environment, local communities, and biodiversity [4]
CARBON DONE RIGHT DEVELOPMENTS INC. ANNOUNCES CEASE TRADE ORDER
GlobeNewswire News Room· 2025-07-30 23:20
Core Viewpoint - Carbon Done Right Developments Inc. has received a cease trade order from the British Columbia Securities Commission due to failure to file required continuous disclosure documents by the deadline [1][2]. Group 1: Cease Trade Order Details - The cease trade order (CTO) prohibits all trading in the company's securities until the required filings are made and the CTO is revoked [2]. - The company aims to resolve the issues causing the delay and expects to file the necessary documents by September 30, 2025 [3]. Group 2: Company Background - Carbon Done Right is a provider of high-quality carbon credits sourced from afforestation and reforestation projects [1]. - The company focuses on nature-based carbon assets to meet the growing demand for carbon credits from companies pursuing Net Zero goals [4]. - It engages in various arrangements with government entities in jurisdictions such as Sierra Leone, Yucatan, Guyana, and Suriname to enhance greenhouse gas sequestration [4]. Group 3: Required Filings - The documents that were not filed include the Annual Audited Financial Statements for the year ended March 31, 2025, Management Discussion & Analysis, and certificates from the CEO and CFO [6].
Carbon Streaming Announces Settlement Agreements Related to Rimba Raya and Marvivo Projects
Globenewswire· 2025-07-24 11:30
Core Viewpoint - Carbon Streaming Corporation has reached settlements regarding disputes related to the Rimba Raya Biodiversity Reserve Project and the MarVivo Blue Carbon Conservation Project, which are expected to positively impact the company's operations and financial standing [1][8]. Rimba Raya Project Settlement - The company has settled disputes with Infinite-Earth Limited and related parties concerning allegations of breach of agreements related to the Rimba Raya Project [2]. - Key terms of the settlement include a payment of US$650,000 and the return of 4,539,180 common shares for cancellation, which will reduce the total outstanding shares to 48,332,053 [5][6]. - The settlement will be implemented within 10 days, and the company continues to pursue damages against Justin Cochrane in a separate court proceeding [3][5]. MarVivo Project Settlement - Carbon Streaming has also settled with Fundación MarVivo México and MarVivo Corporation regarding the MarVivo Project, which includes the abandonment of the project effective September 20, 2024 [8][11]. - The company retains seven-year rights in the MarVivo Project if a MarVivo-affiliated party re-acquires rights to the project [11].