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Share Name | Share Symbol | Market | Type |
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DeepMarkit Corp | TSXV:MKT | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.145 | 0.08 | 0.145 | 0 | 20:40:00 |
TSXV: MKT OTC: MKTDF FRA: DEP
Blackrock, BMO, CPP Investments and Norton Rose Fulbright are Helping to Drive Significant Interest in the Carbon Offset Market, Which is Directing a Steady Flow of New Opportunities to DeepMarkit
CALGARY, AB, Sept. 12, 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 provide an industry and corporate update. Amidst the backdrop of several significant events recently occurring in the carbon offset industry, the DeepMarkit management team is providing the following update to keep current and future shareholders, as well as the media, informed about its unique competitive position in a growing asset class.
Industry Developments
Recent milestones in the carbon industry include but are not limited to:
Additionally, Bloomberg News reported that "a record US$1.4 billion poured into climate and carbon-focused startups in the second quarter of this year" in an article published on August 17, 2022. The flow of capital is being driven by corporate and government pledges to cut greenhouse gas emissions in the United States and around the world. As such, the DeepMarkit team is encouraged by the current industry environment and its updated strategy plan.
DeepMarkit's overall plan is based on combining the growth of the informal carbon offset market with the maturation of blockchain technology. The chance to make carbon offsets the first tangible asset class to adopt blockchain as its backbone is enticing and valuable.
By leveraging the secure and transparent blockchain, the Company has created and launched MintCarbon.io to offer a simple onboarding process and other innovations to users in the voluntary carbon market for them to enjoy as a way to access carbon offsets. DeepMarkit's user-focused service seeks to ensure that carbon offsets that are onboarded are only of the highest quality and have passed rigorous third-party checks.
DeepMarkit's platform allows for a compelling way to work with carbon offset generating companies and projects to bring their story to the blockchain. It assists in adding a qualitative layer to the various projects and embed additional data relative to an ERC-20 token standard.
MintCarbon.io is intended to be collaborative and to add an additional way of distribution for projects and carbon offset brokers. Although there are several firms looking to tokenize assets, The platform's focus is to add the story of the project and embed project data within the token allowing for a more robust, project-friendly offering.
A key initiative among global efforts to fight climate change, the voluntary carbon offset markets ("VCM") allow companies around the world to reduce and remove CO2 emissions over and above what would otherwise be possible. The size of the VCM has grown rapidly in recent years with the value of global voluntary carbon markets nearly quadrupling in 2021 towards US$2 billion driven by nearly 500 million offsets traded.
Prices climbed in 2021 by nearly 60% over 2020 to a point not seen since 2013, reaching an annual global weighted average price per ton of $4.00 for all transactions reported by Ecosystem Marketplace respondents, compared with $2.52 in 20206. Looking ahead, the rise in corporate net zero pledges (particularly from firms in carbon intensive sectors) should underpin demand and support expansion in VCMs growth in years to come.
"Our leading MintCarbon.io platform is secure, easy to use and remains unrivaled in the industry so far. On that basis, and given growing interest in this new asset class, I expect material growth in the number of carbon offsets to be minted into tokens via MintCarbon.io over the next year," said Ranjeet Sundher, Chief Executive Officer of DeepMarkit. "Blackrock, BMO CPP Investments and Norton Rose Fulbright are only but a few of the major players that are drawing attention to the carbon markets. Making it easier for people and companies to access carbon offsets to improve the environment is the ultimate goal," added Mr. Sundher.
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.
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.
ENDNOTES:
SOURCE DeepMarkit Corp.
Copyright 2022 Canada NewsWire
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