February 14, 2024, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on Base Carbon, Inc. (OTC: BCBNF) titled, “A Leading Player in the Growing Carbon Marketplace”. The report can be accessed here.
Base Carbon is a leading player in the global voluntary carbon marketplace that seeks to be the preferred carbon project partner for developers and buyers of carbon credits. The company invests its capital in projects that produce carbon credits that can then be purchased and used by third parties to meet their climate goals. Base Carbon has assembled a leading team that includes experts with established track records in sourcing and developing carbon projects around the globe, along with extensive experience and expertise in project finance, portfolio management, and risk and legal management.
The market for carbon credits is primarily driven by individuals and organizations, including corporations that seek to offset their carbon footprints to comply with either carbon regulations or meet their voluntary net-zero commitments. According to BCG, the value of the voluntary carbon market grew fourfold in 2021, reaching $2 billion, and is expected to reach $10-40 billion by 2030, driven by more companies seeking to reach their net-zero goals.
Base Carbon is invested in three successful projects that are either currently generating credits and cash or will soon be producing credits that can be sold. The portfolio includes both carbon abatement and carbon removal projects, and the company now has working partnerships with three different local partners in three different countries. These relationships and project track record make Base Carbon a more desirable project development partner and also should help support the overall quality of the credits produced by its projects.
The founders, directors, and management of Base Carbon own more than 12% of the shares outstanding, and more than 16% is held by Abaxx Technologies. The company has also been repurchasing its shares since June 2022 through a normal course issuer bid program (NCIB) in accordance with the rules of Cboe Global Markets. Through 3Q23, the company repurchased a total of 8.9 million shares (~7% of total issued), including 1.4 million shares since June 2023.
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