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Regina, SK – TheNewswire – April 3, 2024 – Carbon RX Inc (“Carbon RX”) is pleased to announce the approval of its inaugural nature-based Carbon Credit Project, "The Carbon RX Canadian Prairies Cropland Project," by the Pure Sky Registry, LLC (“Pure Sky”). This project, located on Treaty 4 Territory in Saskatchewan, Canada, is projected to sequester approximately 1.5 million tonnes of carbon over the 20-year project. Through the Pure Sky approval, the project provides quality carbon credits for international buyers in the voluntary carbon market supporting farming practices committed to carbon removals and reductions.
"The approval of our project validates the importance of Canadian agriculture in the global carbon offset market," said Marty Seymour, CEO of Carbon RX and founding member of Pure Sky. "Agricultural practices are the ideal instrument to sequester carbon in the soil. Farmers are looking for ways to participate in the carbon markets through their regenerative practices and Pure Sky offers an ideal standard for this project."
The project combines minimal tillage with reduced nitrogen fertilizer and fuel usage, enhancing soil carbon storage and decreasing greenhouse gas emissions. The unique nature of the project is the inclusion of First Nation and non-First Nation farmed lands.
"We are proud to have the Carbon RX Canadian Prairies Cropland Project as the first to receive our approval," commented Shidan Gouran, Co-Founder and Member of Pure Sky. "This approval marks a significant moment for Pure Sky, showcasing our commitment to setting high standards within the carbon registry sector and supporting credible, high-quality carbon offset projects using blockchain technology."
Like all voluntary carbon registries, the Pure Sky standard requires projects to adhere to the rigorous ISO 14064 standards, including third-party validation, as a criterion for approval. Pure Sky’s unique decentralized and open voting system provides transparent and timely approvals of carbon projects with all carbon credits tracked on a digital ledger.
According to a 2023 report by Morgan Stanley, the voluntary carbon-offset market is projected to expand from about $2 billion in 2022 to approximately $100 billion by 2030 and $250 billion by 2050. Initiatives like the Canadian Prairies Cropland Project will contribute to this growth, offering scalable and effective solutions for carbon sequestration globally.
About Carbon RX
Headquartered on Treaty 4 Territory in Regina, SK, Carbon RX specializes in the origination and streaming of carbon credits. Backed by a team of agriculture, forestry, and hydrocarbon experts; Carbon RX provides high-fidelity carbon credits to the international voluntary carbon market, ultimately aiding Canada in the race to net-zero emissions.
For more information, visit carbonrx.com.
About Pure Sky Registry LLC
Pure Sky Registry LLC, a Web3 Carbon Credit Registry, focuses on the certification and digitization of carbon credits, promoting environmental sustainability through blockchain technology.
For more information, visit puresky.earth
For media inquiries
Carson Sinclair
Cell: 306-690-9235
E‐mail: carson.sinclair@carbonrx.com
Forward Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, which are based upon Delta CleanTech Inc. (“Delta”) and Carbon RX (Delta’s subsidiary), current internal expectations, estimates, projections, assumptions and beliefs and views of future events. All statements other than statements of historical fact are forward-looking information. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "might", "will", "shall", "should", "intend", "anticipate", "project", "contemplate", "continue", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking information included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. Carbon RX does not undertake any obligations to publicly update or revise any forward-looking information except as required by securities law.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
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