Base Carbon Announces First CORSIA-Eligible Tagged Credits and Sales

Executive Summary

• Base Carbon’s Rwanda Cookstoves Project achieved full eligibility and tagging under CORSIA, becoming one of the first projects worldwide to receive Verra’s CORSIA‑eligible designation.
• The company completed its first sales of CORSIA‑eligible carbon credits, contracting 300,537 credits for sale with settlement expected in the coming weeks.
• Base Carbon now holds a combined inventory of 1,076,230 Rwanda carbon credits, including 733,874 CORSIA‑eligible credits and additional credits subject to revenue‑share arrangements, positioning it to capture value as demand from global airlines grows.

Key Details

• CORSIA Eligibility: Full eligibility and tagging confirmed for the Rwanda Cookstoves Project under Verra’s CORSIA – First Phase (2024‑2026) methodology.
• First Sales Completed: 300,537 CORSIA‑eligible credits contracted for sale from both company‑held inventory and DelAgua‑shared inventory; financial settlement anticipated in the next few weeks.
• Inventory Snapshot (pre‑sale):
• Total Rwanda carbon credits held: 1,076,230 VM0050 credits
• CORSIA‑eligible credits: 733,874 (company‑held) + 243,973 (revenue‑share with DelAgua) = 977,847 eligible credits now in inventory or under contract
• Non‑CORSIA VM0050 credits: 342,356 (included in Rwanda’s first Biennial Transparency Report)
• Revenue Share Arrangement: Credits held by project partner DelAgua are subject to a revenue‑sharing agreement with Base Carbon.
• Future Issuance Plan: Following the methodological update, the company expects regular biannual issuance of carbon credits from the Rwanda project.
• Market Opportunity: Phase 1 CORSIA demand projected at 146–236 million credits (2024‑2026), indicating a sizable market for Base Carbon’s eligible inventory.
• Strategic Positioning: Management emphasizes a “strategic and opportunistic” approach to future monetization, leveraging strong balance sheet and growing airline demand.

Notable Quotes

“CORSIA tagging is a key validation milestone of Base Carbon’s strategy. We are grateful for DelAgua's partnership… Demonstrating initial sales represents further confirmation of our business model, asset underwriting and portfolio positioning.” – Michael Costa, CEO