Agreement paves the way for deployment of Biochar Pyrolysis Equipment in Eastern Canada
OLD SAYBROOK, CT and VANCOUVER, BC / ACCESSWIRE / October 25, 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 it has entered into a master services agreement (the "Agreement") with Scotia BioChar Inc. ("Scotia") pursuant to which Scotia may, from time to time, issue statements of work ("SOW") for provision by the Company of manufacturing equipment and/or professional consulting services relating to the production of biochar.
Scotia BioChar is headquartered in Bedford, Nova Scotia, Canada and aims to become a producer of high-quality biochar from waste wood biomass found in central Nova Scotia. Several regional biomass sources are available, including the approximately 20 million tonnes of trees blown down during Hurricane Fiona (2022).
The Agreement has an initial term of one (1) year, during which Scotia shall have the ability to issue SOWs, with each SOW indicating the type of work/service sought by Scotia from the Company, and the anticipated remuneration for the same. Under the terms of the Agreement, Scotia is obligated to deal exclusively with the Company with respect to the provision of equipment and services as contemplated by the Agreement, and the Company shall have the ability to accept or object to any particular SOW.
By utilizing the pyrolysis technology and services to be provided by BluSky under the Agreement, Scotia intends to generate biochar for use in applications such as: mine reclamation, chemically contaminated site remediation; agriculture crops and livestock; asphalt and concrete; as well as wastewater and water treatment.
Scotia is led by Liz MacKenzie (Co-Founder and President), who has successfully advanced projects from concept through comprehensive business and financial models. Additionally, Ms. MacKenzie has secured funding from both government and private sector sources. To date, she has committed up to $3.6M of capital financing for Scotia's various projects. She has served as the VP Business Development for Grand River Ironsands, Inc, and as a Board Member of the Halifax Regional Municipality.
Co-Founder, Vice President and a Director of Scotia BioChar Inc., Mr. Francis MacKenzie, is an experienced entrepreneur and serves as President of several industrial projects that collectively represent approximately $50 million (CAD) invested to-date, including Pure Fonte Ltée, a private company focussed on low carbon production of cast iron, a key raw material required by electric arc furnace (EAF) steel mills in North America, and Labrador Sands Inc., focused on its confirmed feldspar grade, separation process and business model to strengthen concrete and reduce its carbon footprint.
Liz MacKenzie, President of Scotia BioChar Inc. states, "I am delighted to have the opportunity to work with the BluSky team as we advance towards industrial scale biochar production in Eastern Canada. The opportunity is significant and a win-win for regional industries and the environment. The BluSky technology is a great fit and we can't wait to get a Vulcan system deployed in Nova Scotia."
BluSky CEO Mr. Will Hessert states, "The Scotia Biochar team has been diligently working towards deploying a biochar production facility in Nova Scotia. On that journey, they've become incredibly knowledgeable about biochar production technologies, byproducts, and more. We are honored that they have given their faith in BluSky, both in our technology and our expertise. Exciting times and a great opportunity for Nova Scotia".
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, statements regarding the potential for conducting any work, including providing machinery, equipment or consulting services, under the Agreement, and generating any revenue therefrom. 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: Scotia issuing any statements of work under the Agreement; the Company's ability to fulfill any statements of work, including to provide any machinery, equipment or consulting services; 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, Scotia being able to realize on its business plans; the Company's ability to fulfill any statements of work, and to provide any machinery, equipment or consulting services thereunder; 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 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 amended prospectus dated June 11, 2024. 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.
