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Hempalta (TSX-V:HEMP) CEO Darren Bondar joined Steve Darling from Proactive to share news the company has the completion of their acquisition of a controlling 50.1% interest in Hemp Carbon Standard. Recognized for its capability to absorb significant amounts of carbon dioxide, industrial hemp has become a cornerstone in HCS’s pioneering efforts to produce carbon credits from the plant’s lifecycle. These carbon credits offer corporate buyers a way to obtain high-quality, high-integrity credits, enabling them to both measure and enhance their decarbonization strategies while promoting regenerative agricultural practices. HCS utilizes advanced remote sensing technology for precise CO2 sequestration measurement within the biomass of industrial hemp and its associated topsoil.
This method ensures transparency, accuracy, and integrity in carbon accounting, helping corporations achieve their sustainability goals. In 2023, HCS expanded its monitoring operations to include 15 farms and 45 sites across 1,380 hectares in Canada, the United States, Ukraine, and Spain. This extensive monitoring has successfully sequestered 12,354 tonnes of CO2, marking significant progress in environmental sustainability efforts.
The company also pecialises in transforming agricultural hemp waste into valuable consumer products, such as cat litter and building materials, at its advanced agtech facility in Southern Alberta. Additionally, the company is nearing completion of a plant expansion to enhance its manufacturing capabilities. Moving forward, Hempalta plans to maintain its North American market focus while aligning its manufacturing and carbon credit initiatives.
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