OLD SAYBROOK, CT and VANCOUVER, BC / ACCESSWIRE / October 29, 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 sector is very pleased to announce that it has commenced production of biochar at a dedicated facility in Arkansas. The event marks the official startup of initial biochar production aimed at servicing the recently announced $105 million, ten-year supply agreement (see Company news release dated Sept 24, 2024) ("Supply Agreement").
A video showing the equipment start-up and providing some insights into the facility, the region, and BluSky's strategic plan is available on the corporate website: click here.
The startup of the Vulcan Heavy system at this location represents the first of three units required to service the totality of the Supply Agreement. Once the other two units are procured and fully operational (see news release dated September 24, 2024), these machines are expected to produce a combined output of approximately 40,000 tons of biochar annually. It is also expected that production byproducts such as bio-oil and syngas may help reduce the Company's overall production costs by providing some of the energy required to power the Vulcan systems, potentially along with surplus power capacity to contribute towards operating BluSky's related carbon removal technologies (CDR) including its Medusa Carbon mineralization process and Kronos Direct Air Carbon Capture technology.
Figure 1 - BluSky Vulcan Heavy System AR1 in Arkansas
The inaugural production plant has been dedicated as "AR1" and is located at 110 Industrial Park Drive in Warren, Arkansas. The facility consists of a multi-room 50,000 sq/ft enclosure located on an 8.54-acre property. Warren services an established sustainable timber industry with a strong presence in the town and surrounding area. Nearby softwood wood chip production (mostly yellow pine) serves as a nearly limitless source of clean biomass feedstock for the BluSky Vulcan Heavy pyrolysis systems.
Figure 2- View of BluSky's AR1 50,000 sq/ft plant in Warren, Arkansas
BluSky CEO Will Hessert comments, "The facility is ideally suited for scalability. We have ample room for the three Vulcan Heavy units as required to service our initial regional contract, with additional room to double that production without the need to create more space. The property itself is large and well suited to handle industrial scale logistics and storage needs."
Managing logistics was an important factor in determining the suitability of the AR1 location. Large scale access to clean biomass combined with ready access to agricultural end-users enhances the overall efficiency of the operation by limiting transportation costs for both feedstock and offtake.
From a human resource perspective, BluSky is delighted that the Warren area boasts an excellent, skilled and motivated talent pool to draw from and looks forward to working closely with the community.
CEO Will Hessert concludes, "We are very excited to get this project underway. Gigatonne-scale carbon removal cannot happen without industrial-scale carbon removal projects. The Warren AR1 operation showcases our ability to rapidly deploy large-scale CDR facilities. Additionally, we intend to grow the project by showcasing the potential opportunities which we believe will attract local, regional and even global interest. Beyond the immediate goals, we intend to use AR1 as a research facility to test novel technologies we hope to unveil in the months ahead. Its extremely gratifying to build a project that moves our business forward while helping address a global issue. We are proud of what we are doing here today and look forward to building a successful venture on the back of this launch today."
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 - right 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.
This news release contains statements and information that constitute "forward-looking information" within the meaning of applicable securities laws. Such information is based on current expectations, estimates, forecasts, projections, beliefs and assumptions made by management of BluSky. Forward-looking information includes, but is not limited to, statements regarding the Company's ability to procure additional machinery and equipment, including additional Vulcan Heavy units, and to deploy and operationalize the additional equipment, as well as statements regarding the Company's ability meet the supply terms under the Supply Agreement; forward-looking information may also 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.
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: 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.
Investors are cautioned to not place undue reliance on forward-looking information, and to carefully review the risk factors described in the Company's Final Prospectus dated May 27, 2024, as amended by Amended No. 1 dated June 11, 2024, available on www.sedarplus.ca under the Company's profile
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
