TSXV: MKT OTC: MKTDF FRA: DEP
Blackrock, BMO, CPP Investments and
Industry Developments
Recent milestones in the carbon industry include but are not limited to:
Blackstone's investing$400 million in Xpansiv – the leading global carbon and environmental commodities exchange platform1;- BMO purchasing Radicle Group – a leading carbon offset developer with over 130 employees and over 4,000 clients globally2;
- CPP Investments, with a fund value of
$523 Billion (as ofJune 30, 2022 ), adding an "Investing in the Potential of Carbon Credits" section to the homepage of its website3; and Norton Rose Fulbright publishing its "Draft Core Carbon Principles for the Voluntary Carbon Market" as a large, global law firm4.
Additionally,
By leveraging the secure and transparent blockchain, the Company has created and launched MintCarbon.io to offer a simple onboarding process and other innovations to users in the voluntary carbon market for them to enjoy as a way to access carbon offsets.
MintCarbon.io is intended to be collaborative and to add an additional way of distribution for projects and carbon offset brokers. Although there are several firms looking to tokenize assets, The platform's focus is to add the story of the project and embed project data within the token allowing for a more robust, project-friendly offering.
A key initiative among global efforts to fight climate change, the voluntary carbon offset markets ("VCM") allow companies around the world to reduce and remove CO2 emissions over and above what would otherwise be possible. The size of the VCM has grown rapidly in recent years with the value of global voluntary carbon markets nearly quadrupling in 2021 towards
Prices climbed in 2021 by nearly 60% over 2020 to a point not seen since 2013, reaching an annual global weighted average price per ton of
- The Company's wholly owned subsidiary,
First Carbon Corp. , has received a Security Assessment Certificate fromQuantstamp, Inc. In order to receive the Certificate, Quantstamp evaluated and passed security-related issues, code quality and adherence to specifications and best practices related to the MintCarbon.io platform's smart contracts. The Company complied with Quantstamp's iterative audit process to rigorously review and test the MintCarbon.io platform's blockchain-based smart contracts. Quantstamp performed the security assessment of the platform's codebase and FCC incorporated feedback and recommendations from Quantstamp to complete the audit and receive the Certificate. All audited smart contracts are now ready to be deployed on the MintCarbon.io platform. - The Company achieved the commercial launch of its proprietary MintCarbon.io platform and received its first purchase order which came from
WILL Solutions Inc. ("WILL") which is aQuebec, Canada based leader in community-based greenhouse gas reduction solutions. Subject to the satisfactory verification of WILL's carbon offsets, WILL will be allow-listed to mint up to 150,000 tokens, representing 150,000 tons of GHGs, viaDeepMarkit's MintCarbon.io platform. - The Company signed a letter of intent with
Bloom X Alliance Inc. to form a referral arrangement. Pursuant to the key terms in the LOI,DeepMarkit and BloomX are working to form the Arrangement through which BloomX will introduce and onboard carbon offset projects onto the blockchain throughDeepMarkit's proprietary minting platform, MintCarbon.io. Based inJapan , BloomX is a blockchain-based products and services company seeking to reduce cost and improve efficiency of international asset transfers. It looks to participate and invest in blockchain-based products and services as well as other technology-enabled and related growth opportunities.
"Our leading MintCarbon.io platform is secure, easy to use and remains unrivaled in the industry so far. On that basis, and given growing interest in this new asset class, I expect material growth in the number of carbon offsets to be minted into tokens via MintCarbon.io over the next year," said
On behalf of:
"Ranjeet Sundher"
Neither the
Statements in this news release may contain forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements, including statements relating to the completion of satisfactory verification of the carbon offsets and other conditions to the minting transaction, the completion of the minting by WILL Solutions of its carbon offsets, statements relating to the possibility of exchanging the tokens described herein on third party token exchanges, and statements relating to the Company's business and corporate plans. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of
The forward-looking statements contained in this news release are made as of the date of this news release and
ENDNOTES:
- "Blackstone Announces
$400 Million Investment in Xpansiv, the Leading Global Carbon and Environmental Commodities Exchange Platform",July 6, 2022 ,Blackstone , accessed onAugust 25, 2022 , https://www.blackstone.com/news/press/blackstone-announces-400-million-investment-in-xpansiv-the-leading-global-carbon-and-environmental-commodities-exchange-platform/ - "BMO to Acquire Calgary-based
Radicle Group Inc. , a Leader in Environmental Services",July 20, 2022 , BMO, accessed onAugust 25, 2022 , https://capitalmarkets.bmo.com/en/news-insights/news-releases/sustainable-finance/bmo-acquire-calgary-based-radicle-group-inc-leader-environmental-services/ - "Investing in the Potential of Carbon Credits", CPP Investments, accessed on
August 25, 2022 , https://www.cppinvestments.com/insights-institute/carbon-credits - "Draft Core Carbon Principles for the Voluntary Carbon Market released",
August 2022 ,Norton Rose Fulbright , accessed onAugust 25, 2022 , https://www.nortonrosefulbright.com/en/knowledge/publications/facd1a20/draft-core-carbon-principles-for-the-voluntary-carbon-market-released - "Carbon-Tech Draws Record VC Funding as Investors Hunt for Impact",
August 17, 2022 , Bloomberg, accessed onAugust 25, 2022 , https://www.bnnbloomberg.ca/carbon-tech-draws-record-vc-funding-as-investors-hunt-for-impact-1.1806912 - "The Art of Integrity -
Ecosystem Marketplace's State of the Voluntary Carbon Markets 2022 Q3",August 3, 2022 ,Ecosystem Marketplace , accessed onSeptember 8, 2022 , https://www.ecosystemmarketplace.com/publications/state-of-the-voluntary-carbon-markets-2022/
SOURCE
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