How To Turn Green Technology Into Greenbacks - Susglobal Energy (OTC:SNRG)

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Tesla Inc. (NASDAQ:TSLA) has relied heavily on carbon credits to make the electric vehicle company profitable. Indeed, it wasn’t until earlier this year that the company actually turned a profit on its vehicles alone, according to this report.

A Canada-based recycling and renewable energy company is now also seeking to monetize its carbon credits.

SusGlobal Energy Corp. (OTC:SNRG) wants to reduce organic waste from a number of sources, including wood, leaf and yard material, municipal source separated organics and paper sludge.

By taking such waste otherwise destined for landfills and converting it into energy and other renewable products such as fertilizers, the Toronto-based company is aiming to become a leader in the renewables and regenerative products sector and Leaders in the Circular Economy by developing proprietary technologies to do so.

Putting Carbon Credits Into the Bank

SusGlobal also is a big believer in carbon credits and has taken an initial step in monetizing that sector by signing a partnership agreement with carbon offset consulting company Bluesource, focusing on its site in Belleville, Ontario. SusGlobal is aiming to reflect the value of such credits in the 1st quarter of 2022.

“We identified Bluesource as the right partners for our company’s carbon credits monetization initiative, based on their extensive experience and success,” said Marc Hazout, executive chairman, president and CEO of SusGlobal.

For more than 20 years, Bluesource has consulted with numerous organizations across much of North America to help reduce their carbon footprints.

Carbon credits work by essentially rewarding proactive environmental action by organizations.

Such credits can be sold in the international marketplace to other companies that can emit a certain amount of carbon dioxide or other greenhouse gases as a result, the overall aim being to reduce such emissions globally. Many global companies, such as Google parent company Alphabet Inc. (NASDAQ:GOOGL), use a similar program called carbon offsets, where they are credited for using sustainable energy versus fossil fuels.

The partnership agreement between SusGlobal and Bluesource will focus on developing and marketing greenhouse gas offset credits at the 49-acre waste-processing and compost site in Belleville.

The revenue from the eventual credits is anticipated to drive technological advancements to expand composting efforts at the facility as well as more generally in the province of Ontario, SusGlobal says.

Global Leaders Meet on Environment

The news comes as political leaders around the world gather in Glasgow, Scotland, to seek agreement on how to enact policies to help reduce global emissions at the United Nations Climate Change Conference (COP26) meeting.

In the 1st week of the summit, leaders pledged to end deforestation by 2030, although India failed to agree. India, along with China and Russia, also failed to agree to a pledge to cut methane emissions by 30% by 2030.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

SNRGSusglobal Energy Corp

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