Supernova Energy, Inc. Announces its Plans to Develop a Carbon Credits and Offset Business

Rhea-AI Summary

Supernova Energy, Inc. (OTC PINK:SPRN) announced its intention to establish a carbon credits and offsets business through its subsidiary, Klir Sky, Ltd. KLIR aims to mitigate greenhouse gas emissions using its Pollution Reduction as a Service (PRaaS) technology to process emissions into usable forms. This initiative targets the charcoal industry, a significant polluter. The carbon credits market is projected to reach $10 to $25 billion by 2030. CEO Nicholas Upchurch emphasized the business opportunity in carbon credits, aiming to help clients reduce emissions while generating revenue for the company.

Positive

• Plans to enter the carbon credits market, projected to be worth $10 to $25 billion by 2030.
• Innovative PRaaS technology aimed at mitigating greenhouse gas emissions.
• First deployment targeting the charcoal industry, a major contributor to pollution.

Negative

• None

ROCKVILLE CENTRE, NY / ACCESSWIRE / April 14, 2022 / Supernova Energy, Inc. (OTC PINK:SPRN) ("SUPERNOVA" or the "Company") today announces its plans to develop a carbon credits/carbon offsets line of business under its subsidiary Klir Sky, Ltd. ("KLIR").

KLIR is a greenhouse gas mitigation company committed to using its Pollution Reduction as a Service ("PRaaS") to be a solution to the earths known climate change problem and to aid polluters of these greenhouse gases ("GHG") with their ongoing emissions issues.

KLIR's PRaaS uses revolutionary technology to collect, liquefy and process these harmful GHG's emitted by industrial smokestacks into usable forms. KLIR then sells the processed liquefied gas. The result is possible net zero emissions for KLIR customers that can now claim excess carbon credits by reducing their carbon footprint while contributing to a future of clean air. KLIR is currently building its first PRaaS system to be deployed in the charcoal industry, a known heavy polluter according to the United States Environmental Protection Agency.

What are carbon credits and carbon offsets? (As defined by Carboncredits.com)

The terms are frequently used interchangeably, but carbon credits and carbon offsets operate on different mechanisms.

Carbon credits, also known as carbon allowances, work like permission slips for emissions. When a company buys a carbon credit, usually from the government, they gain permission to generate one ton of CO₂ emissions. With carbon credits, carbon revenue flows vertically from companies to regulators, though companies who end up with excess credits can sell them to other companies.

Offsets flow horizontally, trading carbon revenue between companies. When one company removes a unit of carbon from the atmosphere as part of their normal business activity, they can generate a carbon offset. Other companies can then purchase that carbon offset to reduce their own carbon footprint.

Carbon credits and offsets have become a necessary tool against climate change and has become multi-billion-dollar market. According to Carboncredits.com analysis of the voluntary carbon market forecasts the sectors value to be between $10 and $25 billion by 2030.

KLIR believes it clients will reduce enough emissions using the KLIR PRaaS system that they will be able sell their excess carbon credits.

Nicholas Upchurch, CEO of Supernova Energy, Inc., and founder of KLIR comments: "The carbon credits industry is a practical solution to help with climate change that has become a booming business. For example, Tesla generates hundreds of millions from the sales of Carbon Credits (https://www.bnnbloomberg.ca/tesla-emissions-credit-revenue-may-boom-again-in-2021-analyst-1.1554630). We will be developing a carbon credits business line that can benefit our clients and our company. We have begun the structuring of this business and speaking to potential advisors and partners to consult on its establishment and operations. We look forward to providing more details as they emerge."

About Supernova Energy, Inc.

Supernova Energy, Inc. (OTC PINK:SPRN) is an American-based oil and gas production and exploration company with key holdings Kentucky. The Company's goal is to acquire economical leases in known oil and gas formations with a low cost of recovery. The strategy is to specialize in wellbore completion, re-completion, and workovers on existing oil and gas production. The Company is also in the business of greenhouse gas exhaust mitigation through its majority owned subsidiary, KLIR Sky, Inc. (www.klirsky.com).

Cautionary Statement Regarding Forward-Looking Statements

The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws relating to forward-looking statements. This release contains forward-looking statements that reflect Supernova Energy Inc., plans, and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "goal," and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, performance, achievements, or financial position to be materially different from any expressed or implied by these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements are outlined in our quarterly and annual reports.

CONTACT:
Nicholas Upchurch
Supernova Energy Inc.
Chief Executive Officer
info@snenergyinc.com

SOURCE: Supernova Energy, Inc.

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FAQ

What is Supernova Energy planning to do with its subsidiary Klir Sky?

Supernova Energy intends to develop a carbon credits and offsets business through its subsidiary Klir Sky, focusing on greenhouse gas mitigation.

How does Klir's Pollution Reduction as a Service (PRaaS) work?

Klir's PRaaS technology collects, liquefies, and processes greenhouse gases from industrial sources, allowing clients to reduce emissions and potentially sell carbon credits.

What market is Supernova Energy entering with its new plans?

Supernova Energy is entering the carbon credits and offsets market, which is projected to reach $10 to $25 billion by 2030.

Which sector is Klir targeting with its carbon credits initiative?

Klir is targeting the charcoal industry, identified as a significant polluter by the EPA, for its first PRaaS system deployment.

What did CEO Nicholas Upchurch say about the carbon credits business?

CEO Nicholas Upchurch highlighted the carbon credits industry as a booming business that can benefit clients and the company.