Base Carbon receives 639,609 carbon credits

Executive Summary

• Base Carbon Inc. announced the fourth issuance of 639,609 carbon credits from its Rwanda Cookstoves project, marking the first issuance under the updated Verra VM0050 methodology.
• The credits are expected to receive CORSIA-eligible tagging upon the purchase of required insurance, positioning them for immediate sale into global aviation carbon-offsetting markets.
• Base Carbon is actively engaging in sales discussions and RFPs with prospective offtakers, aiming to balance near-term revenue generation with long-term inventory value maximization as the CORSIA compliance market matures.

Key Details

• Issuance of 639,609 carbon credits from the Rwanda Cookstoves project.
• Fourth issuance from the project; first produced directly under Verra's updated VM0050 methodology.
• Credits are held by project partner DelAgua Group pursuant to the project agreement and revenue-sharing arrangement.
• Direct generation under VM0050 validates the methodology transition and demonstrates consistent operational performance.
• Expected CORSIA-eligible tagging upon insurance purchase will allow immediate sale and delivery into global aviation carbon-offsetting markets.
• First CORSIA-eligible-tagged carbon credit sales were completed earlier this year.
• Company strategy emphasizes disciplined execution, opportunistic inventory monetization, and recurring project production to drive value accretion.
• Active sales discussions and RFP processes are ongoing with prospective offtakers.

Notable Quotes

• Michael Costa, Chief Executive Officer: "Following the project's successful transition to VM0050, this fourth issuance, and the first produced directly under the updated methodology, reflects the full maturation of the Rwanda Cookstoves project as an asset generating CORSIA-eligible credits on a regular cadence," said Michael Costa, chief executive officer of Base Carbon. "With our first CORSIA-eligible sales under way, an attractive supply and demand environment in CORSIA's first compliance period and expected near-term additions to our CORSIA-eligible inventory, we believe Base Carbon is well positioned within a critical component of the global compliance carbon market. Disciplined execution, opportunistic inventory monetization and recurring project production will drive continued value accretion for our enterprise and our shareholders."