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Base Carbon Provides Project Updates

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Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) has announced key project updates:

  • The India ARR project has completed planting 6.5 million trees, expected to generate 1.6 million carbon credits over 20 years.
  • The Rwanda project anticipates receiving 1,014,635 Article 6 Authorized carbon credits soon.
  • The Vietnam project expects to receive an estimated 1.8 million additional carbon credits as early as late Q4, 2024.
  • Verra has updated its cookstove project methodology to enhance credibility and integrity.

The company holds an inventory of 700,000 Article 6 Authorized carbon credits from the Rwanda project and believes maintaining a short-term inventory will allow for positive exposure to anticipated price momentum and liquidity. Base Carbon continues to support the operational excellence of the DelAgua Group as the Rwanda project developer.

Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) ha annunciato aggiornamenti importanti sui suoi progetti:

  • Il progetto India ARR ha completato la piantumazione di 6,5 milioni di alberi, che si prevede genereranno 1,6 milioni di crediti di carbonio nel corso di 20 anni.
  • Il progetto in Rwanda prevede di ricevere presto 1.014.635 crediti di carbonio autorizzati dall'Articolo 6.
  • Il progetto in Vietnam prevede di ricevere un ulteriore stimato di 1,8 milioni di crediti di carbonio già entro la fine del quarto trimestre del 2024.
  • Verra ha aggiornato la sua metodologia per i progetti di stufe a legna per migliorarne la credibilità e l'integrità.

L'azienda detiene un inventario di 700.000 crediti di carbonio autorizzati dall'Articolo 6 provenienti dal progetto in Rwanda e crede che mantenere un inventario a breve termine permetterà di avere una esposizione positiva a una prevista crescita dei prezzi e liquidità. Base Carbon continua a supportare l'eccellenza operativa del gruppo DelAgua come sviluppatore del progetto Rwanda.

Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) ha anunciado importantes actualizaciones sobre sus proyectos:

  • El proyecto India ARR ha completado la plantación de 6,5 millones de árboles, que se espera generen 1,6 millones de créditos de carbono durante 20 años.
  • El proyecto en Rwanda anticipa recibir pronto 1.014.635 créditos de carbono autorizados por el Artículo 6.
  • El proyecto en Vietnam espera recibir un estimado de 1,8 millones de créditos de carbono adicionales tan pronto como a finales del cuarto trimestre de 2024.
  • Verra ha actualizado su metodología para proyectos de estufas de leña para mejorar la credibilidad y la integridad.

La empresa posee un inventario de 700.000 créditos de carbono autorizados por el Artículo 6 del proyecto en Rwanda y considera que mantener un inventario a corto plazo permitirá una exposición positiva a la esperada tendencia alcista de precios y liquidez. Base Carbon continúa apoyando la excelencia operativa del Grupo DelAgua como desarrollador del proyecto en Rwanda.

Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF)는 주요 프로젝트 업데이트를 발표했습니다:

  • 인도 ARR 프로젝트는 650만 그루의 나무를 심었으며, 이로 인해 20년 동안 160만 개의 탄소 크레딧이 생성될 것으로 예상됩니다.
  • 르완다 프로젝트는 곧 1,014,635개의 제6조 승인 탄소 크레딧을 받을 것으로 기대하고 있습니다.
  • 베트남 프로젝트는 2024년 4분기 말에 최대 180만 개의 추가 탄소 크레딧을 받을 것으로 예상하고 있습니다.
  • Verra는 신뢰성과 무결성을 높이기 위해 요리 난로 프로젝트 방법론을 업데이트했습니다.

회사는 르완다 프로젝트에서 700,000개의 제6조 승인 탄소 크레딧을 보유하고 있으며, 단기 재고를 유지하면 예상되는 가격 상승과 유동성에 긍정적으로 노출될 수 있다고 믿고 있습니다. Base Carbon은 르완다 프로젝트 개발자로서 DelAgua 그룹의 운영 우수성을 계속 지원하고 있습니다.

Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) a annoncé d'importantes mises à jour de projet :

  • Le projet India ARR a terminé la plantation de 6,5 millions d'arbres, qui devraient générer 1,6 million de crédits carbone au cours des 20 prochaines années.
  • Le projet au Rwanda s'attend à recevoir prochainement 1.014.635 crédits carbone autorisés par l'Article 6.
  • Le projet au Vietnam prévoit de recevoir environ 1,8 million de crédits carbone supplémentaires dès la fin du quatrième trimestre 2024.
  • Verra a mis à jour sa méthodologie pour le projet de poêles à bois afin d'améliorer la crédibilité et l'intégrité.

L'entreprise détient un inventaire de 700.000 crédits carbone autorisés par l'Article 6 provenant du projet du Rwanda et pense que le maintien d'un inventaire à court terme permettra d'avoir une exposition positive à la dynamique des prix attendus et à la liquidité. Base Carbon continue de soutenir l'excellence opérationnelle du groupe DelAgua en tant que développeur du projet au Rwanda.

Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) hat wichtige Projektaktualisierungen angekündigt:

  • Das Indien ARR-Projekt hat die Pflanzung von 6,5 Millionen Bäumen abgeschlossen, die voraussichtlich über 20 Jahre hinweg 1,6 Millionen Kohlenstoffgutschriften generieren werden.
  • Das Projekt in Ruanda erwartet bald den Erhalt von 1.014.635 gemäß Artikel 6 autorisierten Kohlenstoffgutschriften.
  • Das Projekt in Vietnam rechnet damit, bereits Ende des vierten Quartals 2024 schätzungsweise weitere 1,8 Millionen Kohlenstoffgutschriften zu erhalten.
  • Verra hat seine Methodik für das Kochofenprojekt aktualisiert, um die Glaubwürdigkeit und Integrität zu erhöhen.

Das Unternehmen verfügt über einen Bestand von 700.000 gemäß Artikel 6 autorisierten Kohlenstoffgutschriften aus dem Projekt in Ruanda und ist der Meinung, dass die Beibehaltung eines kurzfristigen Bestands eine positive Exposition gegenüber der erwarteten Preisdynamik und Liquidität ermöglichen wird. Base Carbon unterstützt weiterhin die operationale Exzellenz der DelAgua-Gruppe als Entwickler des Ruanda-Projekts.

Positive
  • Completion of planting 6.5 million trees in India ARR project, expected to generate 1.6 million carbon credits over 20 years
  • Anticipated receipt of 1,014,635 Article 6 Authorized carbon credits from Rwanda project
  • Expected receipt of 1.8 million additional carbon credits from Vietnam project in late Q4, 2024
  • Holding inventory of 700,000 Article 6 Authorized carbon credits from Rwanda project, potentially benefiting from price momentum and liquidity
Negative
  • None.

TORONTO, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. (together, with affiliates, “Base Carbon”, or the “Company”), is pleased to announce the following project updates.

Project Highlights

  • Achievement of key India ARR project milestone with completion of planting all 6.5 million planned project trees which are expected to generate 1.6 million carbon credits over the project life.
  • The Company anticipates receiving 1,014,635 Article 6 Authorized labeled carbon credits from the Rwanda project in the coming weeks. Management recently completed a successful project site visit to Rwanda including in-country meetings with the DelAgua Group, the project developer, and government officials.
  • Base Carbon anticipates receiving an estimated 1.8 million additional carbon credits as early as late Q4, 2024 with respect to the next issuance from its Vietnam project.
  • Verra has recently announced an updated methodology for cookstove projects with the intention of enhancing the market perception of the credibility and integrity of such projects.

India Afforestation, Reforestation, and Revegetation (ARR) Project Update

The Company, through BCCPC, executed a project agreement with Value Network Ventures Advisory Services Pte Ltd. with respect to a nature-based ARR carbon removal project facilitating the reforestation of degraded rural farmlands in the northern Indian state of Uttar Pradesh.

The Company is pleased to announce the completion of planting all 6.5 million planned project trees representing the achievement of a key project milestone. Project validation is ongoing with Verra, the carbon registry, with completion of the validation process expected early in the first quarter of 2025. It is anticipated that the project will generate 1.6 million high-quality nature-based removal carbon credits over an expected 20-year project life, beginning in 2025.

Rwanda Cookstoves Project Update

The Company continues to hold an inventory of approximately 700,000 carbon credits from the Rwanda project which are labeled with Verra’s “Article 6 Authorized” designation. The second issuance of 1,014,635 Article 6 Authorized carbon credits is anticipated within the coming weeks, which is net of the credits held back under the terms of the Letter of Authorization with the Rwanda Government.

While the Company regularly evaluates market-based opportunities for the sale of carbon credits, the Company believes that maintaining a short-term inventory of the Rwanda project carbon credits will allow for positive exposure to anticipated price momentum and liquidity upon eligibility under programs like CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation).

Last month, management completed a successful project site visit and in-country meetings with the DelAgua Group, the project developer, as well as government officials. Company officials visited a selection of participating households and had the opportunity to speak with numerous members of the DelAgua team at various organizational levels. The Company continues to believe in, and support, the operational excellence provided by the DelAgua Group as the project developer.

Vietnam Household Devices Project Update

The Company’s Vietnam project is continuing to operate as anticipated and the Company expects to receive an estimated 1.8 million additional carbon credits as early as late Q4, 2024.

Verra’s Cookstove Project Methodology Update

Verra, the carbon registry for each of the Vietnam and Rwanda projects, recently announced an updated methodology for cookstove projects with the intention of enhancing the market perception of the credibility and integrity of such projects. Click here for Verra’s press release.

The updated methodology applies only to newly registered Verra cookstove projects and is not immediately applicable to either of Base Carbon’s Vietnam or Rwanda projects. The updated methodology is anticipated to be applied to all Verra-registered cookstove projects for verification activities related to 2027 carbon credit vintages onwards.

As per details outlined in Verra’s press release, the revised methodology is subject to ongoing review and further adjustments such as alignment with the work of the Clean Cooking Alliance (CCA) and their planned Comprehensive Lowered Emissions Assessment and Reporting (CLEAR) methodology.

About Base Carbon

Base Carbon is a financier of projects involved primarily in the global voluntary carbon markets. We endeavor to be the preferred carbon project partner in providing capital and management resources to carbon removal and abatement projects globally and, where appropriate, will utilize technologies within the evolving environmental industries to enhance efficiencies, commercial credibility, and trading transparency. For more information, please visit www.basecarbon.com.

Media and Investor Inquiries

Base Carbon Inc.
Investor Relations
Tel: +1 647 952 3979
E-mail: investorrelations@basecarbon.com

Media Inquiries
E-mail: media@basecarbon.com

Cautionary Statement Regarding Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the focus of Base Carbon’s business, the expected issuance, and timing, of carbon credits, the application of Article 6 of the Paris Agreement and the “Article 6 Authorized Label” and market reaction thereto, the receipt of proceeds from the disposition of carbon credits, the implementation of the CORSIA framework and eligibility of carbon credits thereunder, including carbon credits generated by the Company’s projects, and the timing of project validation and continued development of the India project. In some cases, but not necessarily in all cases, forward-looking information may be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans” or variations of such words and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. These statements should not be read as guarantees of future performance, results, or achievements.

Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking information are based upon reasonable assumptions and expectations, readers should not place undue reliance on forward-looking information because it involves assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking information.

In respect of the Rwanda cookstoves project and the Vietnam household devices project, certain factors that influence the commercial success of such projects, including the timing and number of expected carbon credits, include among other things: (i) the Company has retained industry leading experts/consultants/advisors to assist with the evaluation, planning, negotiation and execution of such projects, (ii) the work product, including monitoring reports, of each project’s validation and verification body, (iii) project carbon credit market prices, (iv) the verification of ongoing project monitoring reports and issuance of carbon credits by Verra, (v) changes to laws, regulation or policies in applicable jurisdictions, and (vi) the Company has sufficient funds on hand to make any required carbon credit purchase price payments.

In respect of the Rwanda cookstoves project and the Vietnam household devices project, certain assumptions that influence the commercial success of such projects, including the timing and number of expected carbon credits, include among other things: (i) distributed cookstoves and water purifiers perform to specification when used and participating households use the devices as contemplated by project estimates, (ii) the Company’s in-country project partners, being the DelAgua Group in the case of the Rwanda cookstoves project and SIPCO and the project offtaker in the case of the Vietnam household devices project, perform their obligations in connection with the development and operation of the projects, and (iii) continued participant involvement and public support, including that of applicable governmental authorities, of the voluntary carbon market.

In respect of the India afforestation, reforestation, and revegetation project, certain factors that influence the commercial success of the project include, among other things: (i) the Company’s expertise with respect to the evaluation, planning and negotiation of the project, (ii) the conduct of the project counterparties, including cooperation with local small-land owners, (iii) project costs and carbon credit market prices, (iv) ongoing project monitoring and issuance of carbon credits by Verra, (v) changes to laws and regulation in the Republic of India, and (vi) extreme weather event and natural disasters.

In respect of the India afforestation, reforestation, and revegetation project, certain assumptions that influence the commercial success of the project include, among other things: (i) the development the project remains in line with anticipated timelines and costs, (ii) project counterparties, including project partner Value Network Ventures Advisory Services Pte Ltd., its subcontractors and local small-land owners, perform their contractual and/or standard operating procedures, (iii) the survival of trees, (iv) the growth rates of trees are consistent with the expectations under the project which is then reflected by monitor reports accepted by Verra, (v) the Company has sufficient funds to satisfy its capital commitments, and (vi) continued participant involvement and public support of the voluntary carbon market.

The forward-looking statements made herein are subject to a variety of risk factors and uncertainties, many of which are beyond the Company’s control, which could cause actual events or results to differ materially and adversely from those reflected in the forward-looking statements. Readers are cautioned that forward-looking statements are not guarantees of future performance. Specific reference is made to the management’s discussion and analysis for the Company’s fiscal year ended December 31, 2023 and the most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities (and available on www.sedarplus.ca) for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Should one or more of the risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual events or results may vary materially and adversely from those described in the forward-looking information. The forward-looking information contained in this press release is provided as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.


FAQ

How many carbon credits is Base Carbon's India ARR project expected to generate?

Base Carbon's India ARR project is expected to generate 1.6 million high-quality nature-based removal carbon credits over an anticipated 20-year project life, beginning in 2025.

When does Base Carbon (BCBNF) expect to receive carbon credits from its Rwanda project?

Base Carbon anticipates receiving 1,014,635 Article 6 Authorized labeled carbon credits from the Rwanda project in the coming weeks.

How many additional carbon credits does Base Carbon expect from its Vietnam project in Q4 2024?

Base Carbon anticipates receiving an estimated 1.8 million additional carbon credits as early as late Q4, 2024 from its Vietnam project.

What is the significance of Verra's updated cookstove project methodology for Base Carbon (BCBNF)?

Verra's updated cookstove methodology aims to enhance credibility and integrity of such projects. It applies to newly registered projects and is expected to be applied to all Verra-registered cookstove projects, including Base Carbon's, for verification activities related to 2027 carbon credit vintages onwards.

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