In case you missed this mornings' news release FuelPositive Hires Andr Mech as Strategic Carbon Credit and Emissions Reduction Specialist
TORONTO, July 12, 2021 (GLOBE NEWSWIRE) -- FuelPositive Corporation (TSX.V: NHHH) (OTCMKTS: NHHHF) (“FuelPositive” or the “Company”) has hired Canadian-based Andr Mech as a strategic carbon credit and emissions reduction specialist. Mech has been advising organizations and governments focused on sustainability, energy efficiency and carbon reduction worldwide since 2001 – most recently in North America and Europe. As one of the most knowledgeable emissions reduction and carbon credit specialists in the sector, he has assessed the emission profiles of hundreds of technologies.
“We are delighted that Andr has joined us,” said Ian Clifford, CEO of FuelPositive. “His expertise is already helping to guide us as we make critical decisions about the technologies we choose to develop and our market entry strategies. His analysis of our first product – carbon-free ammonia – is providing valuable insights into where and how we can have the most impact, looking at it sector by sector. He is also conducting due diligence on a possible new acquisition and providing counsel on the best way forward regarding carbon credits.”
“I believe FuelPositive’s carbon-free NH3 is going to play a significant role in reducing greenhouse gases worldwide and will have applications in all sectors. I’m excited to play a role in introducing FuelPositive solutions to compete for opportunity across a broad range of markets so the Company and its technologies can have the greatest possible environmental and economic impact,” said Mech. “I am also excited to be working with the whole FuelPositive team. They have real-world experience and understand how important it is to make the right decisions based on the best information available at the time.”
FuelPositive’s Carbon Credits
Mech will advise the Company on the development of its emission reduction credit policy. The Company anticipates generating significant revenue from carbon credits alone. The revenue will fund future growth and investment in new technologies.
Each ton of carbon-free NH3 produced using FuelPositive’s system will reduce CO2 emissions by more than 4 tons. This is significant when one considers that roughly 200 million tons of traditionally produced ammonia is consumed worldwide each year.
In Canada, each ton of FuelPositive’s carbon-free NH3 used as a fertilizer will be eligible for up to 2.5 carbon credits; each ton used to replace fossil fuels will be eligible for up to 5 carbon credits. Emission reduction credit can be even higher in other global jurisdictions. With Mech’s guidance, the Company will work through the official channels and registries in each jurisdiction where they exist around the world.
“The carbon credits should add significantly to FuelPositive’s profitability,” added Clifford. “This revenue will help fund the development of new technologies that will further our mission: to be a leader in fighting climate change by creating and developing practical, clean and sustainable carbon-free solutions that can be implemented economically now. The world can’t wait, and FuelPositive is committed to this cradle-to-cradle positive shift.”
Growing Team
Mech is the first of a group of experts who will be working closely with the Company as it moves forward with its business plan, focused on the development of carbon-free ammonia and other clean technologies. The Company is continuing to grow its core team and will announce additions as contracts are completed and team members join the Company. Key strategic consulting partners are also being added as specific aspects of the business plan advance.
About Carbon Credits
In Canada and many other countries, industries that are covered by the federal carbon pricing system have emissions limits. If they go above the limit, they must pay the carbon price or purchase carbon credits. Facilities that emit less than the annual limit receive surplus carbon credits for the portion of their emissions that is below the limit. Organizations bank and trade carbon credits as required.
About FuelPositive
FuelPositive is a Canadian-based growth stage company committed to providing commercially viable and sustainable energy solutions, including clean ammonia (NH3), for use across a broad spectrum of industries, systems and applications.
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.