INVERT INC. CLOSES $25 MILLION FINANCING AND PROVIDES CORPORATE UPDATE
OTTAWA, ON, Sept. 15, 2022 /CNW/ - Invert Inc. ("Invert" or "the Company"), a specialized carbon finance company and the future of personalized carbon offsetting, is pleased to provide a corporate update on ongoing projects and developments.
Highlights
- Completed $25 Million CAD Equity Financing
- Expanded Portfolio of High-Quality Carbon Credits
- Successfully launched the Invert App available on Apple and Android
- Head of Carbon Forestry co-authors biochar carbon credit methodology
- Invert Executive Chair to be feature speaker at Elevate Festival
"In the last several months, Invert has accomplished many significant milestones as we continue to build on our vision to help individuals and businesses contribute to our common goal of addressing climate change," said Mark Zekulin, Executive Chairman, Invert Inc. "We're thrilled to have launched the Invert App in Canada this week and completed our $25 million financing in August. We've already begun putting this capital to work with recent investments in Aperam and BC Biocarbon – two developers we're proud to support."
Equity Financing Complete
Invert closed a $25 million CAD financing in August, welcoming new institutional and HNW investors alongside continued support from lead strategic investor Altius Minerals (TSX: ALS). The equity financing provides the Company with significant capital to expand its carbon credit streaming portfolio as well as continued development of the recently launched Invert App.
New Carbon Credit Portfolio Investments
The Company recently announced purchase and streaming agreements with Aperam Steel and BC Biocarbon for high-quality carbon removal credits ("CORCS") derived from biochar. Aperam is Brazil's largest steelmaker and a world leader in environmental sustainability. Invert also entered a multi-year streaming agreement with BC Biocarbon to supply high-quality verified CORCS. Both of these projects are available on the Invert App.
Invert Head of Carbon Forestry Contributes to new Verra Biochar Methodology
The Company is pleased to congratulate Matt Delaney, Invert's Head of Carbon Forestry for his contribution to developing the recently published Verra Biochar Methodology. The methodology, published by Verra's Verified Carbon Standard Program, paves the way for new nature-based approaches to carbon removal, specifically biochar utilization in soil and other applications.
Invert App: Empowering Personal Climate Journeys
This week, the Company officially launched the Invert App - a mobile experience that will change the way individuals contribute to the fight against climate change. The user-friendly Invert App is simple to download and available on both the Apple and Android App Stores. The app allows each user to measure and reduce their carbon footprint while contributing to sustainable carbon projects that reduce and remove greenhouse gases from the atmosphere - all from the convenience of their mobile phone.
Invert to Present at the Elevate Arts and Tech Festival
Invert Inc's Executive Chair, Mark Zekulin, will be a feature speaker presenting at the 2022 Elevate Arts and Technology Festival in Toronto on September 22nd, which is expected to host over 30,000 attendees this year.
Invert operates at the core of the carbon reduction and removal ecosystem, from financing the removal of carbon from our atmosphere via high-quality carbon offset projects to empowering businesses and individuals on their emissions reduction journeys.
Invert invests in carbon credit projects that produce high-quality, meaningful carbon reduction and removal credits that will help save our world. By selling these credits to individuals or businesses, the Company generates revenue that can be reinvested towards further projects that reduce or remove CO2 from the atmosphere. In addition, Invert works directly with businesses to help them understand and reduce their carbon footprint.
Invert is also creating a place where individuals can go to learn about what they can do themselves to address the pressing issue of climate change. The Company helps individuals understand their own impact on the world and gives them a chance to support projects that reduce greenhouse gas emissions. The goal is for every individual to be carbon neutral, and Invert will help get people there in an engaging manner with rich content and community. Please visit our website for more information: invert.world.
This news release may contain forward-looking statements. Forward-looking statements contained in this news release include, but are not limited to, the intentions of the Corporation to pursue the Invert Neutral App indefinitely. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Invert to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: volatility in prices of carbon credits and demand for carbon credit; expectations regarding carbon market trends, overall carbon market growth rates and prices for carbon credits; inability to raise the money necessary to execute its business plan and strategies; the Corporation's business plans and strategies, including acquiring carbon credits, streams and interests in carbon credit projects or entities involved in carbon credits or related businesses; the political, social and economic conditions in each jurisdiction in which the Corporation holds an investment; terrorism, insurrection or war; or delays in obtaining governmental approvals. Although Invert has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Invert disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE INVERT INC.
Caitlin O'Hara, Head of Corporate Communications, [email protected], 1-613-621-9638
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