Vancouver, British Columbia--(Newsfile Corp. - March 7, 2023) - ShiftCarbon (CSE: SHFT) (OTC Pink: SHIFF) (formerly TraceSafe) (the "Company"), a global leader in the Internet of Things (IoT) platforms and an innovator in end-to-end decarbonization solutions, has announced the launch of a new cloud platform designed for measurement, reporting, and verification (MRV) automation of carbon offset projects.
The new MRV automation platform aims to promote and make the creation of voluntary carbon credits easier, more transparent, and more accessible by significantly reducing the cost and complexity of data collection for some of these projects. The company's world-class IoT offering is at the core of the new MRV automation platform. This platform marks a major milestone in ShiftCarbon's effort to achieve more accurate MRV, combat climate change, and promote the opportunity of carbon credits to a broader market.
"Our mission is to make a positive impact on the world by facilitating sustainable development through technology," said Qayyum Rajan, Head of Carbon Products at ShiftCarbon. "This new platform for MRV automation is another step toward achieving that goal. By enabling more accurate and transparent emissions measuring, we can ensure that carbon offset projects are properly accounted for and receive the carbon credits they deserve. The majority of these projects not only help combat climate change, but also improve the lives of people in communities around the world."
The World Bank highlights: "Digital MRV will be a game changer! Current methods to measure, report, and verify emission reductions can be costly and time-consuming, often relying on manual operations. Digital technologies can streamline data collection, processing, and quality control in MRV processes, helping to reduce the cost and time to ERC issuance." ShiftCarbon is proud to be collaborating with leading carbon credit creators to expand carbon credit capture through the use of intelligent and cost-effective IoT sensors, which provide real-time data and further improve the accuracy and transparency of the carbon capture process.
Option Grant
The Company wishes to announce that it has granted 500,000 stock options (the "Options") to its independent director, Murray Tevlin, at an exercise price of $0.10 per common share expiring two years from the date of grant.
In addition, the Company has granted 500,000 stock Options to a certain consultant of the Company at an exercise price of $0.10 per common share expiring five years from the date of the grant. The options are granted in accordance with the Company's Stock Option Plan.
About ShiftCarbon
ShiftCarbon provides an innovative platform for carbon accounting, offsets, and MRV (Measurement, Reporting, and Verification) automation. Businesses can use ShiftCarbon Measure to view a complete picture of their carbon emissions, without the need to hire external consultants or use manual calculations. ShiftCarbon Offset provides enterprises with powerful APIs that allow customers to embed carbon offsets into their business. Find more details on www.shiftcarbon.io.
ShiftCarbon also operates TraceSafe, a leading IoT cloud platform. The solution uses sensor technology to deliver precise and timely information, powering safer and smarter enterprise environments. With a presence across North America, Asia, and Europe, TraceSafe is trusted by leading organizations in healthcare, hospitality, construction, events, education, and government. Find more details on www.tracesafe.io.
For further information, please contact:
Wayne Lloyd, CEO
+1 (604) 629-9975
wayne@shiftcarbon.io
Mark Leung, CFO
+1 (778) 655-4242
mark@shiftcarbon.io
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on ShiftCarbon's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the ShiftCarbon assets and their application, future business plans and relationships, future developments in respect of carbon and climate risks and solutions adopted in response to climate change, and the deployment and acceptance of the ShiftCarbon technology. Although ShiftCarbon believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments respond to climate change and impact of carbon emissions and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and ShiftCarbon undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/157495
