Carbon Streaming Corp. reports developments tied to its carbon credit streaming and royalty portfolio, including financial results, portfolio monetization, project amendments and legal matters involving stream investments. Company updates have addressed carbon credit projects such as the Azuero Reforestation Stream, Community Carbon Stream, Magdalena Bay Blue Carbon Stream and Rimba Raya Biodiversity Reserve Project.
Recurring news also includes settlement implementation, share cancellations, early-warning ownership reports covering common shares and warrants, and governance support for significant litigation. The company frames its portfolio around carbon reduction or removal projects with environmental, community and biodiversity attributes.
Carbon Streaming Corporation (OTCQB: OFSTF) has announced a carbon credit streaming and royalty agreement with Standard Biocarbon for a biochar pyrolysis facility in Enfield, Maine. The project aims to convert waste biomass into biochar, removing approximately 90,000 tonnes CO2 equivalent over 30 years. Carbon Streaming will receive 100% of the generated CO2 removal certificates (CORCs) and a royalty on biochar sales. The total upfront investment stands at US$1.3 million, with initial production expected in late 2023.
Carbon Streaming Corporation (OTCQB: OFSTF) has announced a carbon credit streaming agreement with Core CarbonX Solutions for a rice farming project in Telangana, India. The agreement aims to reduce methane emissions through improved farming practices, generating approximately 2.5 million Verified Carbon Units (VCUs) over seven years. An initial deposit of US$1.55 million has been made, with expectations of a payback period of less than four years based on current market pricing, which ranges from US$6.50 to US$9/VCU.
Carbon Streaming Corporation (OTCQB: OFSTF) announced financial results for the year ended June 30, 2022, showcasing significant growth in its portfolio of carbon credit projects. The company reported a net income of $29.2 million for Q4, attributed mainly to non-cash revaluation. However, it also recorded a full-year net loss of $12.9 million. Highlights include partnerships to generate over 100 million carbon credits and a strong cash position of $93.2 million with no corporate debt. Looking ahead, Carbon Streaming expects to initiate cash flow from credit sales by the end of 2023.
Carbon Streaming Corporation (OTCQB: OFSTF) announced the rescheduling of its financial results for the year ended June 30, 2022. The release has been postponed from September 14, 2022, to September 28, 2022, to finalize financial reporting and complete annual audit requirements. Carbon Streaming focuses on carbon credits, providing investors with exposure to projects that generate voluntary and compliance carbon credits. They have agreements on over 10 projects globally, enhancing environmental sustainability.
Carbon Fund Advisors has launched the Carbon Strategy ETF (NYSE: KARB), targeting global compliance carbon markets. The ETF aims to offer exposure to carbon allowance futures, addressing barriers that prevent investors from accessing these markets directly. The global compliance carbon markets surged in value from 186 billion euros in 2018 to 760 billion euros in 2021. The ETF will focus on heavily traded markets in Europe and North America, including EUAs and CCAs. This initiative coincides with a rising demand for emissions trading systems amid climate change regulations.
Carbon Streaming has signed an exclusive term sheet with Future Carbon Group to invest US$3 million in four REDD+ projects located in the Brazilian Amazon. In exchange, Carbon Streaming will receive a 5% royalty on carbon credit revenues from these projects, which are expected to generate premium pricing due to their advanced registration status. The agreement aims to foster future collaboration on additional carbon projects, including the Bonobo Peace Forest Projects in the Democratic Republic of Congo, further reinforcing Carbon Streaming's commitment to climate action.
Carbon Streaming Corporation (NEO: NETZ; OTCQB: OFSTF) will announce its financial results for the year ended June 30, 2022 before market open on September 14, 2022. An interactive audio call to discuss company updates will take place on the same day at 11:00 a.m. EDT, with a replay available until September 29, 2022. The company focuses on carbon credit investments, supporting projects that generate voluntary and compliance carbon credits and offering investors exposure to this growing market.
Carbon Streaming Corporation (OTCQB: OFSTF) has finalized a US$20 million carbon credit streaming agreement with Community Carbon and UpEnergy Group. This initiative is set to deploy fuel-efficient cookstoves and safe water solutions across five African nations, targeting a reduction of approximately 50 million tCO2e over 15 years. The plan includes an upfront payment of US$6.5 million and potential additional payments tied to emissions reduction milestones. Carbon credits are expected to generate around 3.3 million annually, with payback anticipated in under five years.
Carbon Streaming Corporation (OTCQB: OFSTF) has changed its auditor from Baker Tilly WM LLP to Deloitte LLP, effective August 11, 2022. This decision follows the Audit Committee's recommendation and the Board's approval. No reportable events occurred between Carbon Streaming and Baker Tilly, as defined by National Instrument 51-102. Carbon Streaming focuses on ESG principles, providing investors access to carbon credits and investing in projects that contribute to carbon offset initiatives worldwide.
Carbon Streaming Corporation (OTCQB: OFSTF) announces corporate updates marking a year since its public listing. The company reports a diversified carbon credit stream portfolio consisting of six streams across 13 projects globally, anticipating credit issuance from over 10 projects by the end of 2023. Additionally, Carbon Streaming has committed C$400,000 for a reforestation project in Quebec. The MarVivo Blue Carbon Project reached a funding milestone, enhancing its role in sustainable carbon credit generation.