American BioCarbon Announces Agreement with Puro.Earth
White Castle, LA (June 22, 2022) – American BioCarbon, an innovative manufacturer of renewable products made from sugarcane bagasse, has entered into a marketing agreement with Puro.earth, the world’s first marketplace, standard and registry for science-based carbon removal credits. Puro.earth provides carbon removal as a service, helping corporate buyers create a long-term procurement portfolio to neutralize their carbon footprint and reach net zero. American BioCarbon’s bagasse-based biochar captures carbon in a secure chemical structure that would otherwise release into the atmosphere through decomposition or burn-offs, providing a stable carbon storage solution.
Puro.earth focuses solely on verified net-negative technologies that can remove carbon at an industrial scale and store it for a minimum of 50 years. With the Puro Standard, the first carbon standard for engineered carbon removal, Puro.earth takes different methods of CO2 removal and turns them into digital tradable assets called CO2 Removal Certificates (CORCs) per each metric ton of CO2 removed from the atmosphere for the long term.
Globally, there is rapidly expanding corporate commitment to net-zero carbon footprints and therefore rapidly increasing demand for certified CORCs to neutralize carbon emissions that cannot be eliminated. The current demand for carbon removal credits continues to rise and is far outpacing supply. According to a recent Bloomberg article, “…prices [for carbon removal credits] are projected to rocket 2,975%, to $224 a ton, in 2029 before tapering off to settle at $120 in 2050*”.
American BioCarbon’s agreement with Puro.earth establishes its place in the carbon removal credit marketplace. The sequestered carbon from biochar is measured using the Puro Standard biochar methodology, which is based on peer-reviewed science. It is then independently verified by a reputable third party. Accounting for American BioCarbon’s own emissions, the net negative emissions are then turned into CORCs, which are issued into the Puro Registry and can be sold through the Puro.earth marketplace.
American BioCarbon will be among the largest capacity biochar producers in the U.S. once its commercial plant comes online in 2023. In June of 2021, Nasdaq announced its acquisition of a majority stake in Puro.earth. Their partnership with Puro.earth will scale the marketplace to address a growing demand for carbon removal by large corporations with aggressive ESG-focused goals and objectives.
About American BioCarbon
From its agricultural waste pelletizing facility in White Castle, LA, American BioCarbon uses best-in-class technology and manufacturing safety disciplines to supply commercial, industrial, and municipal customers with sustainable products derived from sugar cane bagasse. The environmentally sustainable pellets offset carbon emissions in the global energy markets and are used domestically for environmental remediation. American BioCarbon also produces biochar for agribusiness, retail outlets and commercial customers to provide a nutrient-rich soil amendment to grow vegetables and other high-quality crops, as well as provide a valuable carbon sequestration tool. www.americanbiocarbon.com