Carbon Streaming Announces Second Removals Streaming Agreement With Mast Reforestation

U.S. Feather River Dome Reforestation Project in Butte County, California

September 25, 2023 07:00 AM Eastern Daylight Time
TORONTO--(BUSINESS WIRE)--Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to announce that it has entered into a streaming agreement with Mast Reforestation SPV I, LLC (“Mast”), for the Feather River Dome project (the “Feather River Dome Reforestation Project”) in California, USA (the “Feather River Reforestation Stream”). The Feather River Dome Reforestation Project is the second stream under its previously announced project pipeline streaming agreement with Mast, to advance its pipeline of post-wildfire reforestation projects in the Western USA (the “Mast Reforestation Projects”).

Mast Reforestation Projects Impact Highlights

• The Feather River Reforestation Stream is expected to remove approximately 50,000 tonnes of carbon dioxide equivalent (“tCO2e”), with carbon credits expected to be issued in 2025.
• The Feather River Dome Reforestation Project, located in Butte County, California, USA, is expected to restore 168 acres that was severely burned by the Bear Mountain Fire in 2020.
• With increasing frequency and severity of wildfires in the Western USA, post-wildfire restoration is a critical piece of climate change mitigation. Mast’s reforestation methods center around growing healthy, climate-adapted, fire-resilient forests.
• The Mast Reforestation Projects, including the Feather River Dome Reforestation Project, are expected to have positive impacts for wildlife and terrestrial and aquatic ecosystems, which will persist for more than 100 years of funded monitoring by an accredited land trust and placed into perpetual conservation easements.
• The Mast Reforestation Projects are also expected to support rural livelihoods, providing jobs in seed collection, nursery operation, site preparation, and seedling planting.

Feather River Reforestation Stream

The Feather River Dome Reforestation Project, located in Butte County, California, USA, is expected to restore 168 acres at the Feather River Dome property that was severely burned by the Bear Mountain Fire in 2020. The Company will receive 100% of the carbon credits generated by the Feather River Dome Reforestation Project, less any pre-committed credits, which are expected to be independently confirmed by a Climate Action Reserve-approved confirmation body.

The Feather River Dome Reforestation Project is expected to remove a total of approximately 50,000 tCO2e and generate an equivalent number of carbon credits. Carbon credit issuance is expected in approximately 2025.

Under the terms of the Feather River Reforestation Stream, the Company has made an initial upfront deposit of US$0.14 million on closing. The Company will make additional milestone payments of up to US$0.58 million as the Feather River Dome Reforestation Project achieves site preparation, planting and issuance milestones. Carbon Streaming will also make ongoing delivery payments to Mast for each carbon credit sold under the Feather River Reforestation Stream, which will increase according to a tiered streaming structure dependent on return on invested capital thresholds. Proceeds from the Feather River Reforestation Stream are expected to be used for on-the-ground project implementation activities, including site preparation and planting. Feather River Dome is significant for its high conservation value, providing habitat for local fauna such as black bear and deer, in addition to providing an important water source for the Sacramento Valley.

About Carbon Streaming

Carbon Streaming aims to accelerate a net-zero future. We pioneered the use of streaming transactions, a proven and flexible funding model, to scale high-integrity carbon credit projects to advance global climate action and additional United Nations Sustainable Development Goals. This approach aligns our strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability and positions us as a trusted source for buyers seeking high-quality carbon credits.

The Company’s focus is on projects that have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. The Company has carbon credit streams and royalties related to over 20 projects around the world, including high-integrity removal and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.