Toronto, Ontario--(Newsfile Corp. - May 24, 2023) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex'') is pleased to announce that the Company's wholly-owned subsidiary, Datametrex Electric Vehicle Solutions Inc. ("DM EVS") has signed a partnership agreement with Rewatt Power ("Rewatt"), a company that aggregates and brokers carbon credits based. Rewatt is based in Calgary, Alberta, and the agreement was executed on May 11, 2023.
This collaboration empowers DM EVS to accrue the federal Clean Fuel Regulation (CFR) credit, a Canada-wide government incentive credit, and the Low-Carbon Fuel Standard (LCFS) credit, which is BC based only. This permits the Company to maximize on the financial incentive benefits of the government carbon markets, while also optimizing its business and increasing profitability while DM EVS deploys its EV charging services throughout the BC market.
Rewatt accelerates the transition to zero-carbon energy for the Canadian and BC EV markets by introducing Clean-Fuel Compliance Credits. Clean-Fuel compliance credits are financial permits to emit one tonne of carbon emissions. They are regulated by the federal government of Canada and the BC provincial government. By supplying EV's with electricity, network operators generate clean-fuel credits by replacing fossil fuels. (Source: https://rewattpower.com/ev-charging/)
Collaborating with Rewatt allows DM EVS to expand its EV charging network. Rewatt's platform allows EV companies to get paid for each charge, powered by carbon tax credits. This allows DM EVS to build more EV charging stations and charge more EV's while maximizing its earnings. Rewatt enables DM EVS to take advantage and maximize on the government carbon incentives and get rewarded by producing more earnings from clean-fuel compliance credits. (Source: https://rewattpower.com/ev-charging/