TORONTO, ON / ACCESSWIRE / July 11, 2022 / SusGlobal Energy Corp. (“SusGlobal” or the “Company”) (OTCQB: SNRG), the developer of SusGro™, an award winning, revolutionary and pathogen free organic liquid fertilizer, today announced that its wholly-owned subsidiary SusGlobal Energy Belleville Ltd. (“SusGlobal Belleville”) has completed a Verified Emission Reductions and Removals (“VERRs”) report as part of the carbon credit development process for the Anew SusGlobal Belleville Composting Offset Project. This report has been submitted to the GHG CleanProjects® Registry, a business unit of the Standards Division of the Canadian Standards Association (“CSA”). This project is part of the Offset Development and Marketing Agreement (the “Agreement”) with Anew Canada ULC (formerly known as Blue Source Canada ULC) (“Anew Canada”) for developed and marketed greenhouse gas (“GHG”) offset credits from the Company’s 49-acre Organic & Non-Hazardous Waste Processing & Composting Facility in Belleville, Ontario. The agreement allows SusGlobal to monetize and realize benefits from voluntary emission reduction activities.
GHG CleanProjects® Registry business unit of the Standards Division of CSA is the service provider which owns and operates the Registry for the purpose of complementing ISO 14064-1, ISO 14064-2, ISO 14064-3, and ISO 14065 Standards and facilitating transparency, accuracy, consistency, completeness and relevance in reporting, validating and verifying of greenhouse gas emission reductions or removal enhancements relating to methodologies and existing and yet-to-be developed greenhouse gas programmes.
The VERRs are greenhouse gas emission reductions or removals relating to the Project which have been undertaken in accordance with the Standards (and all applicable GHG Programme requirements, where an applicable GHG Programme has been identified by the Service Recipient and all applicable GHG Programme requirements have been provided to the Service Provider by the Service Recipient) as verified by an independent third party in accordance with the ISO 14064 Standards and all applicable GHG Programme requirements. Without limiting the foregoing, VERRs also encompass such verified project-based environmental products as they occur and are known in specific GHG
Programmes including GHG credits, registered emission reductions, carbon credits, certificates, credits, offsets and similar environmental products.
SusGlobal Belleville is an aerobic composting Facility that processes residential source separated organic (“SSO”) waste into compost. Waste is collected from local municipalities including County of Northumberland, Municipality of Port Hope and Township of Cavan Monaghan.
The conditions prior to the implementation of the project consist of organic waste disposal in landfill, where it would decompose anaerobically and produce methane. This represents the baseline scenario. The project achieves greenhouse gas emission reductions through aerobic composting of the organic waste, thereby reducing methane generation in the landfill under the baseline.
This monetization is an exciting development for the Company’s mission to reduce organic wastes from wood, leaf and yard material, treated municipal sewage waste (biosolids), residential curbside green bin material or SSO and paper sludge otherwise destined for landfills, allowing the Company to expand this mission.
Anew Canada is a wholly owned subsidiary of Anew Climate, LLC (“Anew™”), a Climate as a Service company that has pioneered creative solutions to climate change for over 20 years. SusGlobal complements Anew’s portfolio of high-quality environmental products from over 20 different technologies in over 100 locations across the United States and Canada. The partnership with SusGlobal is a core example of Anew’s experience in identifying, creating, acquiring and marketing offsets, where there is a tangible environmental benefit.
“We are pleased with the results that Anew, continues to deliver to our Company’s carbon credits monetization initiative, allowing us to collect revenues once marketed and sold,” stated Marc Hazout, Executive Chairman, President and CEO of SusGlobal Energy Corp. “Reflecting the value of these credits in our second quarter 2022 reporting is an exciting milestone to meet, one we anticipate repeating annually and at our second facility in Hamilton, once processing commences, maximizing shareholder value.”
“SusGlobal’s model of diverting organic waste streams from landfills, reducing greenhouse gas emissions while producing regenerative products is setting an example that others can follow,” says Ben Massie of Anew.
“We identified SusGlobal’s Belleville facility as a promising offset development project and the listing of the verification report with the registry is one step closer to the project taking full effect, inspiring others to do the same.”
As municipalities look to significantly divert organic waste from landfills, there will be a necessity of diversion. Composting facilities, their management model, and its level of sustainability, will play a key role in this redistribution of waste. The revenue from these credits is anticipated to drive technological advancements that will expand composting efforts at the facility and other municipalities throughout North America.
About SusGlobal Energy Corp.
SusGlobal Energy Corp., the developer of SusGro™, an award winning and revolutionary pathogen free organic liquid fertilizer, is an industrial, environmental and agricultural biotechnology company focused on acquiring, developing, and monetizing a portfolio of proprietary technologies in the waste to energy and regenerative product applications globally. It is management’s objective to grow SusGlobal into a significant sustainable waste to energy and regenerative products provider and a trusted brand for the fertilizer, soil and aquaculture market, as LEADERS IN THE CIRCULAR ECONOMY®. For more information, please visit the Company’s website at: www.susglobalenergy.com
Anew is accelerating the fight against climate change by enabling any company or organization to align its goals for conservation and impact with actionable next steps. With a comprehensive solutions portfolio that includes advisory services, carbon credits, renewable natural gas, renewable energy credits, EV credits, plastic credits, and emission reduction credits, we lower barriers to participation in environmental markets for clients across the private and public sectors. As the leading marketer and originator of carbon and environmental credits in North America, we bring together strategic finance, regulatory expertise, scientific knowledge, and impact focus to make it possible for businesses to thrive while building a sustainable future. Anew emerged from the February 2022 combination of durational industry leaders Element Markets, LLC and Blue Source, LLC. The company has offices in the U.S., Canada and Europe, and an environmental commodities portfolio that extends across five continents.
Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s objectives. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, lack of sufficient financial resources; variations in market conditions, currency and our stock; the Company’s ability to obtain any necessary permits, approvals, consents or authorizations required for its activities; the Company’s ability to produce energy, biogas, compost or organic fertilizer from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission, which may be viewed at www.sec.gov.
SusGlobal Energy Corp.
Marc Hazout, President and CEO
(416) 223-8500 or Toll Free: 1-866-512-7374
SOURCE: SusGlobal Energy Corp.
Jeanethe Falvey, Senior Director, Marketing & Communications