TORONTO, April 25, 2022–(BUSINESS WIRE)–Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to provide an update on its investment pipeline as the Company continues to build a diversified portfolio of high-quality carbon streaming investments around the globe.
Investment Pipeline Update
- Over 5 investment opportunities are in late-stage due diligence and negotiation or have signed term sheets.
- These near-term investment opportunities are expected to provide diversification by geography, project type and counterparty.
- In addition, the longer-term total pipeline of investment opportunities continues to grow and is now in excess of US$1 billion in size.
Carbon Streaming is well capitalized to fund its growth initiatives with over US$100 million of cash on the balance sheet and zero debt. We look forward to providing further updates on execution of our investment pipeline in due course.
Indonesia Update
The Indonesian government has temporarily paused validation of carbon credits from projects on the Verra Registry (and others) as it seeks to finalize its national carbon policy. The Company maintains a carbon stream investment in the Rimba Raya Biodiversity Reserve Project (“Rimba Raya”) which may be impacted by this temporary pause. Rimba Raya was among the first Verra registered REDD+ (Reducing Emissions from Deforestation and forest Degradation) projects and has forged a long history of success, having over 31.8 million verified carbon credits issued by Verra since 2013.
Jim Procanik, Managing Director of InfiniteEARTH Limited (Carbon Streamingâs project partner at Rimba Raya) added his thoughts, “As we understand it, the Indonesian government is poised to release its national carbon policy framework, and as such, the Ministry of Environment & Forestry (“MOEF”) has…