BluSky Carbon's BluMountain Joint Venture Partners with NET in USA

BluSky Carbon Inc., a company in the carbon removal clean technology sector, announced a new joint venture (JV) agreement through its subsidiary BluMountain Carbon. This JV, formed with Neutralizing Environmental Trash Inc. (NET), aims to deploy biochar technology projects in the southeastern USA and beyond. BluSky and NET will operate as 50/50 partners, with equal stakes in any profits or losses, and shared audit rights for financial transparency.

The JV plans to acquire Vulcan pyrolysis units and related services from BluSky, amounting to $7 million, contingent on securing necessary funding. They aim to annually remove 50,000 tonnes of carbon using local wood waste as feedstock. BluSky's CEO, Will Hessert, highlights the company's progress and optimistic outlook amid the rising carbon price index.