From GlobeNewswire: 2024-05-15 21:30:00

Carbon Streaming Corporation reported a loss on carbon credit agreements for Q1 2024, primarily due to the write-down of the Rimba Raya Stream. The company ended the quarter with $49.0 million in cash and no debt. A restructuring plan reduced operating expenses and generated settlements from agreements. Net loss was $35.8 million. Key portfolio updates include ongoing legal challenges at Rimba Raya and new investments like the Baccala Ranch Reforestation Stream. Additionally, the Community Carbon Stream saw amendments to its terms, securing a letter of authorization in Tanzania. The Nalgonda Rice Farming Stream is implementing advanced monitoring technology, while the Enfield Biochar Stream achieved a critical milestone in biochar production. Carbon Streaming’s focus remains on sales strategy and diversification of its project portfolio. They aim to retain 15% to 25% of cash flows from carbon credit sales to support future growth.



Read more at GlobeNewswire:: Carbon Streaming Announces Financial Results for the Three