STX Group and Base Carbon Partner to Launch Innovative Carbon Investment Vehicle Focused on Scaling Global Markets for Carbon Removals

AMSTERDAM and TORONTO, Dec. 18, 2023 (GLOBE NEWSWIRE) -- STX Group, a leading environmental markets and climate solutions firm, and Base Carbon Inc. (NEO: BCBN) (OTCQX: BCBNF) (“Base Carbon”), a financier of emission reduction, removal, and related climate action projects, are pleased to announce the execution of a Letter of Intent (LOI) to jointly launch a new investment vehicle to develop innovative carbon removal projects. The new vehicle will focus on bringing integrity and scale to global markets seeking durable, high-quality carbon removals based on scientific pathways and asset-backed solutions.

The new vehicle, expected to be the first in a continued series, aims to bring global market participants an innovative way to access and participate in the surging demand for high-quality carbon removals associated with the “net-zero” climate commitments from corporations, financial institutions, and governments. The vehicle’s primary investment focus, driven by buyer demand will emphasize capital allocation to greenfield carbon solutions that include robust quantification, scientific durability, strong community engagement, sustainable development co-benefits, and governance practices in accordance with leading industry standards, local regulation, and the UNFCCC Paris Agreement.

Leveraging its reputable, global team of market professionals and access to environmental markets, corporate buyers, implementation partners and policy makers, STX Commodities will provide project origination and development services to the investment vehicle, as well as marketing and distribution of carbon removals and project by-products. As manager of the fund, Base Carbon will leverage its existing investment platform, team expertise and corporate infrastructure, endeavoring to develop new, ancillary revenue streams without further dilution to its shareholders.

STX Group and Base Carbon are thrilled to be collaborating on this new initiative, viewed as a positive catalyst in their collective agenda to reduce global greenhouse gas emissions. Investor marketing and project off-taker discussions are anticipated to commence in early 2024.

“STX Group has been at the forefront of the global carbon markets for decades and we are excited to team up with Base Carbon to provide opportunities to our counterparties who seek to diversify their portfolio and invest in carbon projects of high caliber. We at STX Group are taking a leading role in developing innovative financial solutions to benefit the environmental commodities markets and are thrilled to witness the increasingly important role of these solutions and projects in commodity finance,” said Marijn van Diessen, Chief Commercial Officer of STX Group.