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     292  0 Kommentare Carbon Streaming Closes Community Carbon Stream

    Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to confirm that it has closed the previously announced US$20.0 million carbon credit streaming agreement (“Carbon Stream”) with Community Carbon and UpEnergy Group (“UpEnergy”) to bring fuel-efficient cookstoves and safe water solutions to millions of households in eastern and southern Africa. These vital energy-saving devices are designed to reduce emissions, improve health outcomes, and preserve local environments by protecting forests from illegal and unsustainable charcoal and wood harvesting.

    Investment Highlights:

    • The Company made an upfront deposit payment of US$6.5 million on closing, with anticipated additional payments of up to US$13.5 million as emissions reduction milestones are met and as cookstove and water purification units are distributed.
    • Carbon credits will be generated from a diversified portfolio of three cookstove and four safe water projects across Uganda, Mozambique, Tanzania, Zambia, and Malawi (individually a “Project” and collectively the “Portfolio”).
    • The Portfolio aims to reduce approximately 50 million tonnes of CO2 equivalent (“tCO2e”) emissions over the 15-year life of the Carbon Stream, or an average of 3.3 million tCO2e annually, and is expected to generate an equivalent number of carbon credits.
    • Carbon Streaming expects payback in less than 5 years based on recent market price trends for cookstove credits.

    Carbon Streaming Founder and CEO Justin Cochrane stated: “We are pleased to close this remarkable stream investment with Community Carbon and incorporate these critical energy efficiency projects into Carbon Streaming’s diverse portfolio. Reducing energy poverty for millions in sub-Saharan Africa while reducing greenhouse gas emissions exemplifies our unique investment approach to deliver impacts beyond carbon to communities around the world.”

    In connection with entering into the Carbon Stream, Community Carbon has created an impact fund to support additional community programs. The Impact Fund, which will be jointly funded by Community Carbon and Carbon Streaming, will contribute a portion of the Portfolio’s carbon credit sales revenue over the life of the Carbon Stream to support additional programs, commencing with initiatives dedicated to the education and empowerment of women and girls, who are disproportionately impacted by climate change. To accelerate the Impact Fund’s work, Carbon Streaming has made an initial advance of US$375,000 to the fund, with the first projects to be supported starting in the third quarter of calendar year 2022.

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    Carbon Streaming Closes Community Carbon Stream Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to confirm that it has closed the previously announced US$20.0 million carbon credit streaming agreement (“Carbon Stream”) with …