BluSky Carbon Launches Carbon Removal And Secures $1.94M In Sales

BluSky Carbon Launches Carbon Removal And Secures $1.94M In Sales - Carbon Herald

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 secured in aggregate an initial US $1.94 Million in sales as a result of sold carbon removal credit offsets combined with new equipment sales.

BluSky has secured a US$1.25 Million agreement with GmbH (“SQUAKE”), a Berlin-based provider of technical solutions for the integration of CO2 calculations and CO2 emission reductions for the travel and logistics industry.

BluSky’s CEO William Hessert states, “I am impressed with the professionalism and speed of the SQUAKE team. The BluSky team and I hope to expand our relationship with SQUAKE in our efforts to advance the carbon removal industry.”

The agreement details the sale of carbon removal credits by BluSky to SQUAKE for permanent retirement (i.e., no longer tradeable). SQUAKE will purchase from BluSky a minimum volume in tonnes of CO2 per year as specified in the agreement.

The specifications identify the sale of Biochar CO2 removal credits based on mutually agreed quality standards subject to minimum quantities tCO2e (tonnes of carbon dioxide equivalent or carbon credits) purchased commencing in 2024 to Q1 2026 with an estimated term value of €1,162,000 EU (approx. US$1.25 Million) per the date of the agreement (subject to currency fluctuations).

SQUAKE has the option to request, by no later than January 18, 2026, an extension of the term of the agreement by one year, upon which the parties will enter into mutual negotiations regarding term extensions encompassing future volumes and delivery dates of carbon removal credits.

In addition, BluSky is also pleased to announce that it has secured its first specialized biomass pyrolysis carbon removal equipment sale valued at US$686,155 with the City of Minneapolis, Minnesota. The sale value includes US $76,155 for customs charges, and US $25,000 for storage. Delivery is anticipated in Q3 of 2024, and initial payments of US$393,000 have been received to date against the order.

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Greg Pakiela, BluSky’s Manager of Business Development notes, “We are thrilled to support the citizens of Minneapolis with a system that can help eliminate waste, remove carbon, and generate carbon credit revenues. We are already seeing interest from several municipalities and corporations who want to repurpose their waste streams to help remove carbon from the atmosphere. We look forward to developing a pipeline of qualified leads and expanding the equipment sales and project development components of our exciting business model.”

To achieve its goals, BluSky is pleased to advise that its Vulcan II biomass pyrolysis system was successfully activated on January 29, 2024. The system is capable of removing up to 800 tonnes of CO2 per year. This achievement represents an important step towards the activation of BluSky’s Vulcan Heavy system, a key component of scalable, multi-process production facilities.

BluSky intends to deploy a Vulcan Heavy system at its “Kiloplex” facility, located in Old Saybrook, Connecticut. Once fully operational and synchronized with its Medusa carbon mineralization system and its Kronos direct air capture system, the facility is estimated to reach an initial operating capacity through the removal of 40,000 tonnes of COper year.

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Processed byproducts of the Kiloplex facility will provide clean energy production to aid in powering the internal systems and are anticipated to provide energy capability for related atmospheric Direct Air Capture and Carbon Mineralization System processes which are scheduled to come online in late 2024 or early 2025. Competitive systems have traditionally proven to be uneconomical when powered solely by grid electricity.

“While our Company may be new to many, we have been diligently developing a suite of integrated technologies over the last few years,” notes CEO Will Hessert. “Our focus has been on creating a scalable enterprise that utilizes proprietary advances in carbon management that produces renewable energy sufficient to significantly offset the power needs of all our downstream products and solutions. The ability to sustainably power our carbon removal operations is the key to markedly transforming our overall cost/benefit projections. BluSky’s systems raise the bar to a new level of growth and capacity to process significant amounts of carbon while commensurately earning carbon credit revenues at scale. We believe our current and future systems will prove to offer game-changing capabilities in the fight for the future of what is nothing less than planetary health itself.”

Additional news regarding the information above, including the continued expansion of the Kiloplex facility and related future events will be made available in the near future as the Company looks forward to developing positive interest and engagement with shareholders and the public.

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