TORONTO–(BUSINESS WIRE)–Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to announce that it has entered into a carbon credit streaming agreement (“Carbon Stream”) with Will Solutions Inc. (“Will Solutions”), an established operator of carbon projects, to scale its Sustainable Community Projects (the “Projects”) in Quebec and Ontario, Canada. These grouped Projects enroll and reward members (including small and medium enterprises (“SMEs”), small municipalities, non-profit organizations, and individual proprietorships) for greenhouse gas (“GHG”) emission reductions through waste diversion, conversion, and energy efficiency initiatives, with plans to expand into transport.
Investment Highlights:
- The Projects are expected to generate over 100 million Verified Carbon Units (“VCUs”) over the next ten years, which will be independently verified and registered by Verra.
- Carbon Streaming will receive 50% of the VCUs generated by the Projects, up to a maximum of 44.1 million carbon credits.
- Will Solutions is expected to make its first delivery under the Carbon Stream of approximately 425,000 to 525,000 VCUs in the second half of 2023, ramping up to about 10 million VCUs in 2030.
- Carbon Streaming has made an initial upfront cash investment of US$4 million on closing, with additional payments of up to US$16 million as the Projects achieve implementation and new member enrollment milestones.
- The Company will also make ongoing delivery payments to Will Solutions for each VCU sold under the Carbon Stream.
- With the Projects located in a desirable jurisdiction and a high concentration of emission reductions from methane avoidance projects, the Company expects VCUs generated to be sold at a significant premium to the Global Emissions Offset (“GEO”) price.
Impact Highlights:
- The Projects focus on enrolling…