DeepMarkit Announces Inaugural Purchase Order for Tokenization of 150,000 Carbon Offsets with WILL Solutions
TSXV: MKT OTC: MKTDF FRA: DEP
The Material Transaction for the Company Involves Offsets that are Based on Conversion and Energy Efficiency as well as Waste Diversion Activities from the Quebec Sustainable Community Project
CALGARY, AB, Aug. 16, 2022 /CNW/ - DeepMarkit Corp., ("DeepMarkit" or the "Company") (TSXV: MKT) (OTC: MKTDF) (FRA: DEP), a company focused on transitioning the global carbon offset market to the more accessible digital economy by minting carbon offsets onto the blockchain, is pleased to announce the receipt of a purchase order (the "PO") from WILL Solutions Inc. ("WILL Solutions"), which is a leader in community-based greenhouse gas ("GHG") reduction solutions. WILL Solutions will mint up to 150,000 tokens, representing 150,000 tons of GHGs, via DeepMarkit's proprietary MintCarbon.io platform. The PO arrives within one week of the Company announcing the launch of MintCarbon.io.
The Company is in the process of verifying the carbon offsets, which is a condition to completing the minting transaction under the PO's terms. Once the offsets have been verified, WILL Solutions will be allow-listed to access and use MintCarbon.io to complete the token minting process. MintCarbon.io was developed and launched by DeepMarkit to support and promote reliability and transparency in the rapidly growing voluntary carbon market (the "VCM") and to assist projects and registries in tokenizing their offsets.
The carbon offsets being minted are based on the Quebec Sustainable Community Project ("QSCP" or the "Project"). The Project gathers more than 850 GHG reduction micro-projects carried out by several small and medium-sized companies from various sectors, non-profit organizations and small municipalities across Quebec. QSCP makes an impact on six of the United Nations' Sustainability Development Goals – innovation and infrastructure; reduced inequalities; sustainable cities and communities; responsible consumption; climate action; and partnerships for the United Nations goals. QSCP is based on the VM0018 methodology that is certified under Verra. The methodology provides a framework for the monitoring, reporting and verification of emission reductions for group projects, where conversion and energy efficiency as well as solid waste diversion activities have been initiated by a Sustainable Community Service Promoter for an assortment of client facilities grouped in a territory.
"We are delighted with this innovative partnership with MintCarbon. The tokenization of verified carbon offsets could be an additional step towards more traceability, transparency and market integrity. The opening of this new distribution channel could increase monetary flows in order to push climate actions even further. A final exchange is planned to confirm a final withdrawal (retirement) for the benefit of an end buyer. The coming years will be exciting and tokenization could be one of the key levers to accelerate the decarbonization of society," said Martin Clermont, President of Will Solutions. "Even if there will be several exchanges, a final exchange is foreseen, which implies the end-of-life of a token (final retirement) and the appropriation of the impact by the final buyer," added Mr. Clermont.
"WILL Solutions is a clear leader with a strong track record in providing climate solutions. Therefore, we are keen to become part of their ecosystem by bringing their carbon offsets to the blockchain through our secure, easily accessible platform, MintCarbon," said Ranjeet Sundher, Chief Executive Officer of DeepMarkit. "WILL Solutions and DeepMarkit share similar values and we look forward to developing a fruitful commercial relationship while democratizing access to their projects, which we expect will make a more positive impact within the community itself," added Mr. Sundher.
WILL Solutions Inc. is a private Canadian company, certified BCorp., whose head office is based in Beloeil, QC. The company is active in the VCM sector through its Sustainable Community. Will Solutions has a social philosophy based on sharing. It is based on two major axes: democratizing access to carbon credits by pooling local GHG reduction projects carried out by SMEs, municipalities and NPOs (cluster), and returning as much money as possible to these partners following the sale of carbon credits by Will Solutions. Will Solutions is carbon neutral since 2007 and is committed to returning 10% of its net profit to community projects and initiatives supporting sustainable development.
DeepMarkit Corp. is a company focused on democratizing access to the voluntary carbon offset market by minting offsets into NFTs. Its common shares are listed on the TSX Venture Exchange under the "MKT" stock symbol, on the OTC market in the United States under the "MKTDF" symbol and on the Frankfurt Stock Exchange under the "DEP" symbol. DeepMarkit Corp. is a software infrastructure company operating in the tokenization vertical of the blockchain. Its primary asset, MintCarbon.io, is a web-based platform that facilitates the minting of carbon offsets into NFTs (based on the ERC-1155 standard) or other secure tokens (based on the ERC-20 standard).
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
Ranjeet Sundher, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Statements in this news release may contain forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements, including statements relating to the completion of satisfactory verification of the carbon offsets and other conditions to the minting transaction, the completion of the minting by WILL Solutions of its carbon offsets, statements relating to the possibility of exchanging the tokens described herein on third party token exchanges, and statements relating to the Company's business and corporate plans. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of DeepMarkit. Additional information regarding risks and uncertainties of the Company's business are contained under the heading "Business Risks and Uncertainties" in the Company's MD&A in respect of the period ended March 31, 2022 and the Company's other public filings which are available under the Company's profile on SEDAR at www.sedar.com. Various factors can cause the actual results to differ materially from those in forward-looking statements. The reader is cautioned not to place undue reliance on any forward-looking information. All information about WILL Solutions in this news release has been supplied by WILL Solutions and from publicly available sources.
The forward-looking statements contained in this news release are made as of the date of this news release and DeepMarkit does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.
SOURCE DeepMarkit Corp.
Ranjeet Sundher, CEO, Tel: 403-537-0067, Email: [email protected], Web: www.deepmarkit.com/, Twitter: @DeepMarkit
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