Spectaire Announces New Demand by Canadian Trucking Fleets for Deployment of AireCore Technology in Response to Escalating Carbon Taxes

Innovative AireCore System Set to Benefit Over Half a Million Trucks in Canada, offering a Solution to Counteract Federal and Provincial Tax Increases

WATERTOWN, Mass., Feb. 22, 2024 (GLOBE NEWSWIRE) -- In a significant move to address the financial and environmental challenges posed by rising carbon taxes, Spectaire Holdings Inc. (NASDAQ: SPEC), a global leader in the field of air quality monitoring and emissions reduction technologies, has proudly announced the successful installation of its revolutionary AireCore technology within several leading Canadian trucking fleets. This initiative is poised to provide a sustainable solution that aligns with the national agenda for reduced carbon emissions, while also developing a path to mitigating the economic impact of tax legislation on the trucking industry.

In April of this year, Canadian truckers saw a significant increase in carbon pricing – a 30% increase to $65 a tonne – translating to an increase of about 17 cents of carbon tax payment per litre of diesel fuel.

Susan Ewart, executive director of the Saskatchewan Trucking Association, said a driver operating a truck with a 300-gallon tank would be paying about $193 more per fill. At an average of about 106 fills each year, Ewart put the cost of carbon tax payments at more than $20,000 annually for each truck on the road.

The adoption of AireCore by multiple Canadian trucking fleets represents a proactive approach to facilitate industry-wide emissions reductions, in alignment with increased federal and provincial carbon taxes across Canada. This deployment underscores Spectaire's commitment to delivering innovative solutions that address both environmental and economic challenges facing the trucking sector.

Brian Semkiw, CEO of Spectaire, stated,” I recognize the financial pressures faced by the trucking industry. AireCore measures tailpipe emissions while trucks are in transit, allowing for those companies who take steps to mitigate their emissions, a pathway to financial relief through carbon offset programs and enhanced tax reporting mechanisms."

Danny Bucciarelli, General Director of G&S Direct, highlighted the operational and financial advantages conferred by AireCore, "Our collaboration with Spectaire through AireCore not only signifies our dedication to environmental stewardship but also enhances our competitive positioning, facilitates potential tax benefits, and enables the generation of carbon credits. We have served our 240,000 customers over 30 years with over 60 trucks and over 100,000 sqft of warehouse space and have invested in carbon reduction technology. We want to be able to publish and benefit from these investments."