DeepMarkit toTokenize 150,000 Carbon Offsets for WILL Solutions
TheOffsets are From the Quebec Sustainable Community Project and Were Verified UnderAccepted Conversion & Energy Efficiency as Well as Waste Diversion Methodologiesand Standards
Calgary, Alberta – November 1, 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, announces that it has scheduled for November 1, 2022 the tokenization of 150,000 carbon offsets (the “Tokenization Event”) into non-fungible tokens (“NFTs”) for WILL Solutions Inc. (“WILL Solutions” or the “Client”) via its MintCarbon.io platform (the “Platform”). WILL Solutions is a leader in community-based greenhouse gas reduction solutions.
The Tokenization Event is part of DeepMarkit's ‘early adopter’ pilot program. The program is success-based and DeepMarkit's upfront minting fee has been waived. WILL Solutions holds the carbon offsets in its own registry and has the option to unwind the offsets within 90 days. The Client maintains independence in the certification process by engaging in third party verification to monitor and ensure rigor, compliance and alignment to the methodology. WILL Solutions has relied on SCS Global Services to verify the offsets.
The Tokenization Event will mark the successful completion of the purchase order previously announced by the Company on August 16, 2022. The Client was then granted access to the Platform to complete the token minting process, which has been set for the aforementioned date.
To access and learn more about WILL Solutions’ project(s) and offset-backed NFTs on the Platform, interested parties can visit the following URL: https://mintcarbon.io/projects/will-quebec-sustainable-community.
“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,” said Martin Clermont, President of WILL Solutions.
“Executing on the purchase order by minting 150,000 offsets into NFTs via MintCarbon.io will further validate DeepMarkit as a company to the industry as well as to our shareholders and stakeholders. We are at the leading edge of the carbon-based digital asset market and I am grateful to WILL Solutions for choosing use as their tokenization partner for this batch of offsets,” added Ranjeet Sundher, Chief Executive Officer of DeepMarkit.
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 verified 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.
ABOUT WILL SOLUTIONS
WILL Solutions Inc. is a private Canadian company, certified B Corp., whose head office is based in Beloeil, QC. The company is active in the Volontary Carbon Markets (VCM) sector through its Sustainable Community. Will Solutions has a social philosophy founded 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:
Ranjeet Sundher, CEO
For more information, please contact:
Ranjeet Sundher, CEO
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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 planned updates 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 June 30, 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.
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SOURCE: DEEPMARKIT CORP.