Carbon Streaming Corporation announced that it has entered into a carbon credit streaming agreement and associated royalty agreement with Standard Biocarbon Corporation (Standard Biocarbon) to support the construction of a biochar pyrolysis pilot facility in Enfield, Maine, USA (the Project). Transaction Highlights: The Project will convert waste biomass into biochar, preventing the release of approximately 90,000 tonnes of CO2 equivalent (“tCo2e”) emissions and generate an equivalent number of CO2 removal certificates (“CORCs”) over 30 years. The CORCs are expected to be independently verified and registered through Puro.earth, a leading standard for carbon removal projects.

Carbon Streaming will receive 100% of the CORCs generated by the Project, with ongoing payments to Standard Biocarbon for each CORC sold. Carbon Streaming will also receive a revenue royalty on volume of biochar sold. The Company expects the Project to produce approximately 250,000 cubic yards (“yd3”) of biochar over 30 years.

First biochar production and delivery of CORCs are expected in the second half of calendar year 2023. The Company has made an initial upfront deposit of USD 0.5 million on closing, with additional payments of USD 0.8 million as the Project achieves registration and production milestones.