- Renewable Energy Certificate market size was valued at
US$12.7 billion in 2021, which is
projected to reach US$100 billion by
2030
- The Company's MintCarbon.io platform has the capability
of seamlessly facilitating the minting of RECs into NFTs as with
carbon credits
CALGARY, AB, April 20, 2022 /CNW/ - DeepMarkit Corp.,
("DeepMarkit" or the "Company") (TSXV: MKT) (OTC: MKTDF) (FRA:
DEP), a company focused on transitioning the global carbon offset
market to the more accessible digital economy by minting credits
into non-fungible tokens ("NFTs"), is pleased to announce that it
has embarked on a strategic initiative to explore the minting of
Renewable Energy Certificates ("RECs") into NFTs via its
proprietary MintCarbon.io platform. RECs, also known as green tags
or tradable renewable certificates, are non-tangible energy
commodities that represent proof that one megawatt hour
("MWh") of electricity was generated from an eligible
renewable energy source. The global REC market was valued at
US$12.7 billion in 2021 and is
projected to reach US$100 billion by
2030.1 By comparison, the voluntary carbon credit market surpassed
$1 billion in market value in
November 2021.2
![DeepMarkit Corp. (TSXV: MKT, OTC: MKTDF, FRA: DEP) (CNW Group/DeepMarkit Corp.) DeepMarkit Corp. (TSXV: MKT, OTC: MKTDF, FRA: DEP) (CNW Group/DeepMarkit Corp.)](https://mma.prnewswire.com/media/1799864/DeepMarkit_Corp__DeepMarkit_Announces_Strategic_Initiative_to_Ex.jpg)
The increase in demand for electricity around the world and
company policies to reach certain renewable energy consumption
targets, combined with the increase in renewable energy market
share, are driving growth in the REC market. Until recently, the
market's growth has been restrained by opaque regulations, general
inaccessibility and the lack of awareness by developing countries
that could benefit from a transparent and accessible platform like
the MintCarbon.io platform. MintCarbon.io is expected to play an
important role in assisting projects by providing an additional
avenue of monetization, while better articulating a project's story
and enabling new forms of engagement.
Management Commentary
"RECs represent a significant market segment for DeepMarkit.
Based on input from our corporate development team, the
MintCarbon.io platform's ability to seamlessly integrate RECs,
combined with positive feedback received from renewable energy
sector participants, make our decision to explore entering
into this market an easy one, while remaining fully committed to
our current carbon credit minting model," said Ranjeet Sundher, Interim CEO of DeepMarkit.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a company focused on democratizing access to
the voluntary carbon offset market by minting credits into
non-fungible tokens ("NFTs"). Its common shares are listed on the
TSX Venture Exchange under the "MKT" stock symbol. DeepMarkit's
wholly owned subsidiary, First Carbon Corp. ("FCC"), is a software
infrastructure company operating in the tokenization vertical of
the blockchain. FCC's primary asset, MintCarbon.io, is a web-based,
software-as-a-service platform that facilitates the minting of
carbon credits into NFTs (based on the ERC-1155 standard) or other
secure tokens (based on the ERC-20 standard). MintCarbon.io is
currently undergoing testing and FCC anticipates an official launch
of the platform in the near future.
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
Ranjeet Sundher, Interim CEO
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 news release.
CAUTIONARY STATEMENT
Statements in this press release may contain forward-looking
information. Any statements that are contained in this press
release that are not statements of historical fact may be deemed to
be forward-looking statements, including statements relating to the
Company's business and corporate plans, tand statements with
respect to the Company's intentions to enter the REC market. The
reader is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from
those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the
control of DeepMarkit. Factors that could cause the actual results
to differ materially from those in forward-looking statements
include, but are not limited to, change in the Company's business
strategy, or failure to enter the REC market for regulatory or
other reasons. The reader is cautioned not to place undue reliance
on any forward-looking information.
The forward-looking statements contained in this press release
are made as of the date of this press release and DeepMarkit does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
securities law.
ENDNOTES
- "Renewable Energy Certificate Market Size Worth Around
US$ 100.96 Bn by 2030", Precedent
Research, accessed on April 18,
2022,
https://www.globenewswire.com/news-release/2021/12/15/2352850/0/en/Renewable-Energy-Certificate-Market-Size-Worth-Around-US-100-96-Bn-by-2030.html
- "Voluntary Carbon Markets Top $1
Billion in 2021 with Newly Reported Trades, a Special
Ecosystem Marketplace COP26
Bulletin", Ecosystem Marketplace, accessed on April 18, 2022,
https://www.ecosystemmarketplace.com/articles/voluntary-carbon-markets-top-1-billion-in-2021-with-newly-reported-trades-special-ecosystem-marketplace-cop26-bulletin/
SOURCE DeepMarkit Corp.