Mentioned:
One of the first carbon credit companies to ever go public in Canada is expanding.
What’s happening:
- Carbon credit company Carbon Streaming (CBOE:NETZ) has announced they have acquired Blue Dot Carbon
- Blue Dot Carbon owns a significant equity stake in a privately held carbon project development company as well as option rights to invest in future reforestation projects
Why it matters:
- Carbon credits continue to see new demand from technology giants such as Microsoft (NASDAQ: MSFT) as well as an uptick in venture capital funding for startups who are disrupting how carbon credits can be verified and purchased
By the numbers:
- The acquisition of Blue Dot Carbon by Carbon Streaming was done in an all stock deal for $2.5M CAD
Going deeper:
- Carbon Streaming has multiple notable partnerships to sell carbon dioxide removal credits generated by their projects, including a deal with Microsoft (NASDAQ: MSFT) which is focused on their Waverly Biochar projected located in Waverly, Virginia
The intrigue:
- Legendary Canadian financier and natural resource entrepreneur Marin Katusa is a founding shareholder of Carbon Streaming
