Mentioned:
Base Carbon is starting to see their carbon reduction projects turn into significant revenue.
What’s happening:
- Base Carbon (CBOE: BCBN) has earned another $11.2M in revenue from sales of carbon credits produced by their Vietnam and Rwanda carbon reduction projects
By the numbers:
- Since the launch of their Vietnam project, Base Carbon has now earned $30M USD in total revenue from the sale of carbon credits
Going deeper:
- Base Carbon previously announced that Citigroup (NYSE: C) had committed to purchasing a significant amount of the carbon credits generated from their Vietnam project
- Base Carbon’s projects in both Vietnam and Rwanda are focused on reducing carbon dioxide emissions through household devices such as cookstoves and water purifying devices
The intrigue:
- Abaxx Technologies (CBOE: ABXX) is one of the founding shareholders of Base Carbon, who notably had BlackRock lead their last financing round to change the future of commodities trading
