Hemp Carbon Standard Announces Sale of 514 Carbon Removal Units to Concordium
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Calgary, Alberta, Canada – June 19, 2024 – Hemp Carbon Standard (HCS), a 50.1% owned subsidiary of Hempalta Corp (TSX-V: HEMP), is pleased to announce that Concordium, the first L1 blockchain with built-in ID verification, has acquired 514 carbon removal units (CRUs) from HCS for a total investment of $18,000. This significant purchase underscores Concordium's commitment to sustainability and decarbonization in the blockchain industry.
Tim de Rosen, CEO of HCS, stated, "We are thrilled to partner with Concordium, a pioneer in the blockchain space that shares our dedication to combating climate change. This transaction not only highlights the effectiveness of our carbon removal methodology but also sets a benchmark for other blockchain companies to follow. By integrating our high-quality carbon removal units, Concordium is taking a proactive step towards achieving a greener and more sustainable blockchain ecosystem."
Lars Seier Christensen, Chairman of Concordium, commented, "Concordium is proud to be a sustainable blockchain dedicated to the cause of decarbonization. Acquiring these carbon removal units from HCS is part of our broader strategy to minimize our carbon footprint and support innovative solutions that address global climate challenges. We believe that our partnership with HCS will inspire other players in the blockchain industry to prioritize environmental sustainability."
The carbon removal units purchased by Concordium are generated through HCS's rigorous and innovative methodology, which leverages the high carbon sequestration capacity of industrial hemp. This approach not only removes CO2 from the atmosphere but also enhances soil health and supports regenerative agricultural practices.
HCS utilizes advanced monitoring technologies to ensure accurate measurement and verification of carbon sequestration, providing transparency and credibility to their carbon removal units. The investment by Concordium reflects the growing trend of integrating sustainable practices within the blockchain sector and demonstrates a significant step towards a more responsible and environmentally friendly future.
For more information about Hemp Carbon Standard (HCS) and their carbon removal initiatives, please visit https://hempcarbonstandard.org. To learn more about Concordium and their commitment to sustainability, visit https://concordium.com
