OLD SAYBROOK, CT and VANCOUVER, BC / ACCESSWIRE / October 11, 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 entered into a Joint Venture ("JV" or "Joint Venture") Agreement (the "Agreement") with Texas-based Red Mountain Biochar, LLC ("Red Mountain"), a company with which it already has a contractual relationship (please see news release dated July 31, 2024) for the creation of a business venture to be known as BluMountain Carbon.
The purpose of the Joint Venture is to commercialize multiple potential biochar offtake and project financing opportunities for the benefit of each of the Company and Red Mountain, with a particular emphasis on the Southern United States and the (i) production and processing of biochar, (ii) deployment of carbon removal technologies, and (iii) exploration and deployment of opportunities in related industries and technologies, as well as other commercial opportunities that the Joint Venture may identify from time to time. The parties intend to fund joint venture activities on a 50/50 basis and neither party is committed to funding or pursuing any particular activity.
Red Mountain CEO Bill Wyatt states, "BluSky Carbon is establishing itself as a global leader in biochar production. BluSky's technology, the sophistication of their operations, and the professionalism of their team make it a no-brainer to partner. BluSky is the missing link for the many opportunities we have in our pipeline."
Red Mountain was founded to transform forestry and agricultural waste into high-quality biochar, driving sustainability and innovation in the concrete, steel, and agricultural industries. The company brings extensive experience in identifying solutions for the transformation of industrial-scale residual biomass waste products into sustainable, eco-friendly revenue-generating alternatives utilizing modern cost-effective carbon removal technologies. BluSky brings technological, manufacturing and carbon markets opportunities to this equation.
BluSky CEO Will Hessert notes, "Red Mountain Biochar is led by a tremendous team that has extensive expertise in business development, manufacturing, and lumber industry practices. Additionally, Red Mountain has built a strong pipeline of opportunities for projects, sales agreements, and project financing opportunities. Married with our expertise in technology and carbon markets, we are excited to have this opportunity to join with them to pursue mutually advantageous projects as industry partners."
The Company is also pleased to announce that it has engaged DSS-Digital Service Solution GmbH ("DSS") (with an address at 43/Top 4, 1070 Wien, Neubaugasse, Austria) for the provision of certain content creation, search engine keyword optimization and other investor relations activities. BluSky has engaged DSS to provide its services effective immediately, in consideration for a cash payment of USD$15,000. DSS and its principals are at arm's length to the Company and, to the knowledge of the Company, DSS does not own, control, or direct any securities of the Company.
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.
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 in this news release includes, but is not limited to, discussion of the purpose of the joint venture, the parties intention to fund opportunities on a 50/50 basis, and the ability of the joint venture to identify and pursue suitable opportunities. 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. 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. In particular, there is a risk that the Company's plans with respect to the joint venture may fail to materialize as contemplated or at all. 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.
