OLD SAYBROOK, CT and VANCOUVER, BC / ACCESSWIRE / December 19, 2024 / BluSky Carbon Inc. (CSE:BSKY)(OTCQB:BSKCF)(FWB:QE4 /WKN A401NM) ("BluSky" or the "Company"), an innovative entry into the carbon removal clean technology sectoris pleased to announce that it has completed certified laboratory testing which confirms its Biochar production qualifies for global carbon credit transactions, including in respect of the company's recent $105 million AR1 offtake agreement (see Company news dated Sept 24) and proposed $192 million AR2 Biochar project (see Company news dated Dec 11).
The Company believes that this technical hurdle is a singularly important milestone, as achieving the certification requires a Biochar producer to ensure quality and product credibility. To meet the requirements, Biochar production needs to meet a low threshold of contaminants such as heavy metals like nickel and chromium.
Additionally, the process needs to produce a stable product regarding a low hydrogen-to-carbon ratio (H/C). When biomass is pyrolyzed, the biomass loses hydrogen as a gas. This leaves behind carbon-dense biochar. The more carbon dense, and the less hydrogen, the more stable the biochar is in terms of carbon sequestration. In other words, a lower H/C ratio means less hydrogen, higher carbon density, and higher carbon stability.
Results of the certified lab testing demonstrate that BluSky's Biochar produced by its Vulcan Heavy equipment meets the Company's requirements for its current and future offtake agreements and categorically qualifies for carbon credit transactions.
BluSky CEO Will Hessert notes, "We are delighted to confirm that our Vulcan Heavy system delivers quality Biochar as intended. Fewer contaminants and higher carbon density has always been the target for our production team. The test results confirm product eligibility for our current and future biochar offtake agreements, including biochar quality suitable for carbon credit transactions by marketplaces such as NASDAQ partner PURO. Earth where current pricing is now sitting near €160 (~167USD) per ton. Our next step is to move through the accreditation process for carbon credit production and to deliver high-quality biochar to our commercial customers. Consistent high-quality char is what the industry needs and our goal is to deliver gigatonnes of it. With our Vulcan Heavy system, we are well on the way to achieving a meaningful carbon removal impact as we grow to scale in the year ahead."
ON BEHALF OF THE COMPANY
William ("Will") Hessert Chief Executive Officer
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, as well as 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 OTCQB 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.
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 includes, but is not limited to, the prospect of advancing any of the Company's current or future projects, 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.
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, that 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 Company's filings, including its Annual Information Form, a copy of which may be obtained under the Company's profile at www.sedarplus.ca. 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.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
