ITOCO Inc.
28.9.2021 14:03:43 CEST | ACCESS Newswire | Press release
TORONTO, ON / ACCESSWIRE / September 28, 2021 / ITOCO INC. (OTC PINK:ITMC) is pleased to have received final signatures on an additional 436 hectares of Nopal Cactus Plantations in State of Mexico and Hidalgo State, Mexico from 125 additional farmers.
As before, ITOCO has applied to "Verra Standard (VCS)" for the certification of approximately US $750k in Carbon Credits based on the extractive properties of the Nopal Cactus plant vis a vis Carbon on this first land package. ITOCO's expectation is to be in receipt of funds upon final verification by Verra.
Carbon Credit numbers above are based on the lowest values per ton received on similar packages.
The Government of Mexico has strongly endorsed the Paris Agreement that was adopted at the twenty first session of the Conference of the Parties ("COP") to the United Nations Framework Convention on Climate Change (UNFCC) to mitigate Green House Gas ("GHG") emissions.
ITOCO is now on track to get final signatures on about 60,000 hectares of Nopal Cactus Plantations in Mexico. The land package represents the farming activities of about 11,000 individual farmers in Mexico.
ITOCO is in advanced negotiations on substantial additional Nopal Cactus Plantation acreage as well as suitable raw land both in Mexico and Internationally.
ITOCO estimates that its current land package alone will yield up to USD $45 million annually in Carbon Credits, using a 40% discount to current Carbon prices.
ITOCO has the ability to produce an ever-increasing number and value of Carbon Credits. As an early entrant to this Market, ITOCO stands to benefit from increasing Carbon prices.
As background, The Kyoto Protocol of 1997 and the Paris Agreement of 2015 are international accords that lay out international CO2 emissions guidelines. The Paris Agreement was ratified by virtually all countries thus giving rise to worldwide emissions limits and regulations backing them.
As a result, there is increasing pressure on firms and countries to find ways to reduce their carbon emissions (footprint).
Today's solutions generally involve ‘Carbon Markets' that have turned Carbon into a commodity with a price, and into a market that is continuously and rapidly growing.
Thus, we have ‘Carbon Credits' and/or ‘Carbon Offsets' that can both be bought and sold on a carbon market. Purchasing Carbon Credits allows one to emit Carbon as part of whatever business one has; producing Carbon Offsets by reducing carbon in approved ways allows one to meet the demand for Carbon Credits.
Carbon markets are a simple yet effective solution to incentivizing and measuring Carbon emissions and reductions internationally.
About ITOCO Inc.:
ITOCO's mission is to be a global leader in developing, distributing, and producing Bio Tech related technologies and methodologies in a compliant environmentally friendly manner. ITOCO Inc. trades on the OTC Markets, symbol: ITMC. ITOCO is a 14-year-old publicly quoted specialty Bio Tech development, production and distribution company based in Toronto Canada and Nevada USA. ITOCO seeks to partner with outstanding individuals and companies within this field to joint venture, research, and co-develop Bio Tech related products and technologies to the market.
Forward-Looking Statements
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, potential, intends, plans, hopes, or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
CONTACT:
Michael Paul, C.E.T.
President & CEO
ITOCO INC
ir@itoco.net
+1-800-805-1521
www.itoco.net
SOURCE: ITOCO Inc.
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