OLD SAYBROOK, CT and VANCOUVER, BC / ACCESSWIRE / July 9, 2024 / BluSky Carbon Inc. (CSE: BSKY) ("BluSky" or the "Company"), an innovative entry into the carbon removal clean technology sector is pleased to announce that the Company's CEO, Mr. William Hessert has joined the Board of the US Biochar Coalition ("USBC"), an organization aiming to elevate awareness among the public, policy makers, and end markets of the biochar industry. The USBC works to help achieve U.S. economic development, climate resilience, and energy independence goals by uniting biochar industry leaders through a powerful platform for action.
BluSky CEO Will Hessert notes, "The BluSky team is dedicated to achieving large-scale carbon removal. Carbon removal is poised to become a trillion-dollar industry1. Organizations ranging from big oil companies2 and tech giants like Microsoft3 are investing in carbon removal technologies. Carbon Dioxide Removal (CDR) solutions to-date have proven costly, inefficient, and inadequate to meet the demand needed4 to offset growing global climate change realities. BluSky's technology is designed to require less capital investment, aimed at offering greater potential relative to other CDR solutions available today56. We believe biochar is uniquely positioned to meet the near-term goals of the CDR industry. As biochar production scales, it is vital that the industry continues to professionalize, ensuring that policy and public awareness help facilitate growth. We further believe that climate change is a solvable challenge and are thrilled to have the opportunity to work within the USBC to advance American agriculture, forestry, and climate technology as part of a unified and extraordinary platform focused on positive climate results."
About Biochar
Biochar is produced during pyrolysis, a thermal decomposition of biomass in an oxygen-limited environment. According to the USBC, Biochar is "one of the most powerful negative emissions technologies available." Biochar is uniquely positioned, as "one of only a few permanent carbon removal technologies, and the one at highest technology readiness level" to meet the "massive incoming demand for carbon removal." This combined with unparalleled climate, social, environmental, and financial co-benefits, makes biochar the U.S.'s most valuable carbon removal tool.
Current carbon dioxide removal (CDR) capacity must scale faster over the next 25 years than solar has scaled in the previous 25 years. There is no historical precedent for the speed and scale at which carbon removal and climate resilience industries must be built. Biochar can maximize the carbon and social impact of every dollar spent, action taken, and product made creating opportunity for American farmers, foresters, and rural communities to prosper.
About the US Biochar Coalition
The USBC is an advocate for legislative, policy, & regulatory action to build and open markets for the production and use of biochar in the U.S. It aims to raise federal policy, legislative & regulatory awareness of the benefits of biochar systems and products to break down barriers to growth and deconstruct silos between the biochar business community & end use market sectors to cross pollinate opportunities for growth The USBC unites biochar industry leaders, creates opportunities for collaboration, and is building a platform for action. Find out more at https://usbiocharcoalition.org/.
The U.S. Biochar Coalition is led by a world class team with decades of experience growing bio-based & climate tech industries. Leaders who've founded, built, and grown industry trade associations including:
American Biogas Council
Biomass Power Association
Baseload Power Coalition
Renewable Fuel Standard Coalition
European Biochar Consortium Initiative
German Carbon Dioxide Removal Association,
Climate Alliance for Jobs & Clean Energy
U.S. Composting Council
Circular Economy Coalition
National Association of Federally Insured Credit Unions
These important advocates, among others, are uniting to put their expertise in policy, lobbying, and industry collaboration to work to grow the biochar industry. Coalition policy work is led by the dynamic team who built the American Biogas Council's Policy program from the ground up in 2011, taking the organization from 20 companies with no federal recognition or incentives, to almost 400 companies and hundreds of millions of dollars in federal incentives, to create $68 Billion worth of economic value in 12 years.
About BluSky Carbon Inc. (CSE: BSKY)
BluSky is a renewable energy company in the business of converting organic and industrial waste into biochar, renewable power and carbonate rocks, as well as the development and sale of carbon capture technology. The Company recently entered into a multi-year brokerage and monitoring, reporting & verification (MRV) services agreement with Carbonfuture GmbH as part of a Trust Infrastructure for durable carbon removal (news release - July 2). 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 is publicly listed on the CSE (news release - June 18), its common shares trade under the symbol BSKY, and its 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/ and sign up to receive news alerts or join us on social media at Facebook, X (formerly Twitter), Instagram, or LinkedIn.
ON BEHALF OF THE COMPANY
William ("Will") Hessert
Chief Executive Officer
BluSky Carbon Inc.
35 Research Parkway,
Old Saybrook, CT, 06475
Tel. (860) 577-2080
Web, https://bluskycarbon.com/
Email. [email protected]
Sales or partner opportunities:
Greg Pakiela, Business Development
[email protected]
The CSE and Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.
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 may 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. Examples of such statements include, but are not limited to: the market price of the Company's common shares; volatility in the capital markets; lack of dividends; risks associated with foreign operations; risks associated with acquisitions; competition; cyber security threats; changes in laws relating to the Company's business; expectations regarding revenue, expenses and operations; cash needs and needs for additional financing; the intention to grow the business and operations; reliance on secondary industries; future production costs and capacity; that available funds will be sufficient to cover expenses; and other forward-looking statements are set out in the section entitled "Caution Regarding Forward-Looking Statements" in the Company's Final Prospectus dated May 27, 2024, as amended by Amendment No. 1 dated June 11, 2024, (the "Amended Prospectus") available on www.sedarplus.ca under the Company's profile.
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: 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 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 the 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 Amended Prospectus. 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.
____________________
1Carbon removals: How to scale a new gigaton industry (McKinsey Sustainability report, Dec, 2023)
2Occidental buys carbon air capture tech from for $1.1B (Reuters, Apr, 2023). Exxon bets carbon will be the new oil (semafor.com July 2023)
3Our Microsoft sustainability journey (Microsoft Corporation, CSR 2024)
4Internal BluSky research based upon currents costs of carbon removal as a percentage of 2050 GDP. Research determined that anything greater than 5% was excessive (baseline).
5Based on combined projected activities of all BluSky technologies as of Q4 2024.
6As determined by financial due diligence undertaken with CDR business partners including Carbonfuture GmbH.
SOURCE: Blusky Carbon Inc.