CORRECTION: BluSky Carbon Partners with Leading Data Management Verification Service, and Lists on US based OTCQB Market

Rhea-AI Summary

BluSky Carbon Inc. (CSE:BSKY)(OTCQB:BSKCF)(FWB:QE4) has announced two significant developments:

1. A partnership with Cula Technologies GmbH for technical data verification services. Cula's Monitoring, Reporting, and Verification (MRV) platform will integrate with BluSky's operations to ensure transparency and data verification for carbon credit certification.

2. The listing of its common shares on the US-based OTCQB Market under the symbol 'BSKCF'. The company has applied for DTC eligibility, with approval expected in Q3 2024.

BluSky's CEO, Will Hessert, emphasized the importance of Cula's technology in bridging the gap between real-world processes and carbon credits. The company will continue trading on the CSE and Frankfurt exchange. Additionally, BluSky has terminated its letter of intent with Carbon Alliance Group Inc.

Updates previous press release that was missing portions of text

OLD SAYBROOK, CT and VANCOUVER, BC / ACCESSWIRE / August 29, 2024 / BluSky Carbon Inc. (CSE:BSKY)(OTCQB:BSKCF)(FWB:QE4 /WKN A401NM) ("BluSky" or the "Company"), an innovative entry into the carbon dioxide removal (CDR) clean technology sectoris pleased to announce that it has partnered with Cula Technologies GmbH ("Cula") for technical data verification services, and further announces the listing of its common shares on the US-based OTCQB Market under the trading symbol "BSKCF."

Reputable carbon removal service providers such as BluSky require Monitoring, Reporting, and Verification (MRV) technology to ensure evidence backed transparency for carbon credit certification purposes. Headquartered in Germany, Cula Technologies GmbH (https://www.cula.tech/) offers an MRV platform which seamlessly captures and verifies data across entire supply chains in real time. The software integrates with BluSky's daily operations, tracking every step of the production process, simplifying operations, and empowers carbon removal credits through data.

Mo Spranger, CEO of Cula notes, "We are thrilled to be partnered with such an innovative producer in our industry. For Carbon Removal to work at scale, two things are vital: high transparency of data and quality project developers that can rapidly scale. The Cula and BluSky partnership perfectly represent each side of the coin, respectively."

BluSky CEO Will Hessert adds, "Biochar MRVs have typically existed as a manual input tracker to calculate carbon removed based on how much biochar you made by weight. Cula's technology integrates directly via sensors located within the biochar machinery to confirm in real time the temperature of the reaction as a measurement of quality. The ability to track multiple machines, feedstock inputs, output quality, and shipped product verifications bridges the gap between real-world processes and carbon credits - ensuring that one ton of carbon removal equals one ton of carbon. Cula's approach offers full visibility into the carbon removal process with transparent, real-time data. This ensures every step, from methodology to impact, is visible and accountable to both our customers and the CDR science community."

The Company is also pleased to announce that its common shares are now quoted for trading on the U.S. based OTCQB Market under the symbol "BSKCF." The Company notes it has applied for eligibility for electronic clearing and settlement through the Depository Trust Company ("DTC"). Until DTC eligibility has been approved, US investors may experience some service limitations, which are anticipated to be resolved during Q3 2024.

In addition to trading in the United States on the OTCQB Market, the Company's common shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol "BSKY" and on the Frankfurt exchange (FWB) under the symbol "QE4."

The Company also announces, further to its August 9, 2024, news release, that it has terminated the letter of intent with Carbon Alliance Group Inc. ("Carbon Alliance") and will no longer be moving forward with the acquisition of Carbon Alliance.

About BluSky Carbon Inc. (CSE:BSKY)(OTCQB:BSKCF)(FWB:QE4 /WKN: A401NM)

BluSky is a renewable energy company that is in the business of putting Carbon back into the ground - where it belongs! The Company converts organic and industrial waste into biochar, renewable power and carbonate rocks, and is engaged in the development and sale of carbon capture technology. BluSky's primary objectives are to (1) construct carbon removal equipment; (2) sell the biochar produced by the carbon removal equipment; and (3) sell carbon credits ‎generated from the production of biochar. The Company's business model is based on the growing need for carbon neutrality and demand to reduce CO₂ emissions.

BluSky Carbon is publicly listed in Canada on the CSE with the trading symbol BSKY, on the OTC as BSKCF, and in Frankfurt., Germany (FWB) with the identifier QE4. BluSky's public filings and related documents are available on the Company's profile page on SEDAR+ at www.sedarplus.ca. For more information about the Company, please visit https://bluskycarbon.com/, watch our video, and sign up to receive news alerts or join us on social media at Facebook, X (formerly twitter), Instagram, or LinkedIn.

ON BEHALF OF THE COMPANY

William ("Will") Hessert
Chief Executive Officer

BluSky Carbon Inc.
35 Research Parkway,
Old Saybrook, CT, 06475
Tel. (860) 577-2080
Web. https://bluskycarbon.com/
Email. info@bluskycarbon.com

Sales or partner opportunities:
Greg Pakiela, Business Development
greg.pakiela@bluskycarbon.com

The CSE and Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.

Forward Looking Information Disclaimer

This release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation based on current expectations, estimates, forecasts, projections, beliefs and assumptions made by management of BluSky about the industry in which it operates. Forward-looking information may include financial and other projections, as well as statements regarding future plans, strategies, prospects, objectives or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "may", "would", "could", "will", "likely", "except", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to: the anticipated benefits of the Company's contract with Cula; that DTC eligibility will be received in Q3 2024; changes in laws relating to the Company's business; expectations regarding potential revenue, expenses and operations; cash needs and needs for additional financing; the intention to grow the business and operations; reliance on secondary industries; future production costs and capacity; that available funds will be sufficient to cover expenses; and other forward-looking statements are set out in the section entitled "Caution Regarding Forward-Looking Statements" in the Company's Final Prospectus dated May 27, 2024, as amended by Amended No. 1 dated June 11, 2024, (the "Amended Prospectus") available on www.sedarplus.ca under the Company's profile.

Forward-looking information is based on current expectations, assumptions, estimates, forecasts, projections, analysis and opinions of management made considering its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to: the assumption that contractual counterparties will perform their obligations as contracted for; the expectation that DTC eligibility will be received in Q3 2024; regulatory requirements being maintained; ‎general business, economic and political conditions; the Company's ability to successfully execute its plans ‎and intentions; the availability of financing on reasonable terms; the Company's ability ‎to attract and retain skilled staff; market competition; the products and technology offered by competitors; that good relationships with service providers and other third parties will be ‎established and maintained; continued growth of the carbon capture technology industry and positive public ‎opinion with respect to the carbon capture technology industry.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation the Company's limited operating history; negative cash flow; financial position and results of operations differing materially from expectations; the expectation of incurring future losses and never becoming profitable; requiring additional capital to continue operations; reliance on the third-party service providers; strong competition from competitors in the carbon capture technology industry; technological changes in relation to carbon capture that may adversely affect adoption of current technology or the Company's ‎products; supply and demand for the reduction of carbon emissions; ‎ and other risk factors described in the Amended Prospectus. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

SOURCE: Blusky Carbon Inc.

View the original press release on accesswire.com

FAQ

What partnership did BluSky Carbon announce on August 29, 2024?

BluSky Carbon (BSKCF) announced a partnership with Cula Technologies GmbH for technical data verification services, utilizing Cula's Monitoring, Reporting, and Verification (MRV) platform to ensure transparency in carbon credit certification.

What new stock market did BluSky Carbon (BSKCF) list on in August 2024?

BluSky Carbon (BSKCF) announced the listing of its common shares on the US-based OTCQB Market under the trading symbol 'BSKCF' on August 29, 2024.

How does Cula's technology benefit BluSky Carbon's (BSKCF) operations?

Cula's technology integrates directly with BluSky Carbon's (BSKCF) biochar machinery, providing real-time data on reaction temperature, quality, and product verifications. This ensures transparency and accountability in the carbon removal process.

What happened to BluSky Carbon's (BSKCF) planned acquisition of Carbon Alliance Group?

BluSky Carbon (BSKCF) announced on August 29, 2024, that it has terminated the letter of intent with Carbon Alliance Group Inc. and will no longer be moving forward with the acquisition.