Hemp Carbon Standard Announces Sale of Carbon Removal Units  to Net Zero Company

Hemp Carbon Standard Announces Sale of Carbon Removal Units to Net Zero Company

Calgary, Alberta September 26, 2024 – Hemp Carbon Standard Inc. (HCS), a subsidiary of Hempalta Corp. (TSXV:HEMP), is pleased to announce its new partnership with Net Zero Company (“NZC”), a Stockholm-based company dedicated to advancing carbon removal accessibility. This collaboration is marked by NZC’s initial purchase of 50 CDRs from the HCS, which will lay the foundation for large-scale CDR transactions in the future.

By engaging in this partnership with Hemp Carbon Standard, Net Zero Company is positioning itself to digitize significant volumes of CDRs and put them on the blockchain with the aim of increasing accessibility, transparency, and trust in the carbon market.  

Tim de Rosen, CEO of HCS, said, "We are pleased to partner with Net Zero Company. The transaction is an initial one that will illustrate the effectiveness of our carbon removal methodology while also setting a benchmark for other companies to follow. Net Zero Company’s purchase of HCS carbon credits highlights their proactive approach to mitigating climate impact and underscores the importance of regenerative agriculture in the hemp industry." 

HCS is 50.1% owned by Hempalta Corp. and is headquartered in Calgary, Alberta. The HCS methodology is designed to quantify and certify the carbon sequestration achieved through the cultivation of industrial hemp, providing a robust framework for generating high-quality carbon credits.

Håkan Nordkvist, CEO of NZC, commented, “We are excited to partner with Hemp Carbon Standard on the initiative. This purchase is an initial step towards building a diverse pool of carbon removals and enhancing accessibility to real-world CDRs through our CDR Token. By supporting regenerative agriculture we are making progress toward a net-zero future.”


How does HCS remove and store carbon?

HCS facilitates the transformation of conventional croplands to vast carbon sinks through the implementation of regenerative agricultural methods which remove CO2 from the atmosphere and store it in the soil. Industrial hemp is a fast-growing species with high carbon removal capacity. Once the biomass is harvested it is converted into biochar, ensuring the long-term storage of the removed carbon.

How are the CDRs measured, monitored, and verified?

HCS incorporates cutting-edge technology including flux towers and Sentinel 2 satellites to measure the net ecosystem exchange (“NEE”), which refers to the carbon flux within a particular area. If the NEE value is negative, it means that carbon is being removed from the atmosphere. These measurements are constantly ongoing, and the results are verified annually by independent third-party verification bodies.

How are the farmers compensated?

Farmers and landowners are motivated to join the HCS program due to the financial incentives offered for transitioning to regenerative hemp agriculture. These incentives are funded by the revenue from CDR sales, which are generated as a direct result of the land transformation. Participants in the HCS program initially commit to a minimum of 10 years, however they are strongly incentivized to maintain the improved practices indefinitely, greatly enhancing the durability of the stored carbon.

For more information about Hemp Carbon Standard and its carbon credit offerings, please visit https://hempcarbonstandard.org.

About Hemp Carbon Standard
Hemp Carbon Standard Inc. (HCS) is dedicated to certifying and promoting the carbon sequestration potential of industrial hemp through rigorous methodologies. Based in Calgary, Alberta, and majority-owned by Hempalta Corp. (TSXV:HEMP), HCS aims to support sustainable agriculture and combat climate change by providing high-quality carbon credits.
About Net Zero Company
Net Zero Company leverages blockchain technology to drive the transition to net zero through its digital carbon asset, the CDR Token (CDRT). The CDRT is built upon a blended portfolio of real-world CDRs which all adhere to NZC’s rigorous standard. The purpose of the CDRT is to increase accessibility, transparency, and trust in the carbon market, accelerating global efforts to combat climate change.  
Media Contacts
Hemp Carbon Standard 
Email: info@hempcarbonstandard.com
Net Zero Company
Rosanna Thun
Email: rt@netzerocompany.org
Back to blog
  • Hemp Carbon Standard Announces Sale of Carbon Removal Units  to Net Zero Company

    Hemp Carbon Standard Announces Sale of Carbon R...

    Calgary, Alberta – September 26, 2024 – Hemp Carbon Standard Inc. (“HCS”), a subsidiary of Hempalta Corp. (TSXV:HEMP), is pleased to announce its new partnership with Net Zero Company (“NZC”),...

    Hemp Carbon Standard Announces Sale of Carbon R...

    Calgary, Alberta – September 26, 2024 – Hemp Carbon Standard Inc. (“HCS”), a subsidiary of Hempalta Corp. (TSXV:HEMP), is pleased to announce its new partnership with Net Zero Company (“NZC”),...

  • HEMPALTA to Deliver Breakthrough Investor Presentation at New York Venture Summit

    HEMPALTA to Deliver Breakthrough Investor Prese...

    NEW YORK CITY – HEMPALTA recently became one of only 200 companies worldwide to earn a coveted presentation slot at the 21st annual New York Venture Summit this week. The...

    HEMPALTA to Deliver Breakthrough Investor Prese...

    NEW YORK CITY – HEMPALTA recently became one of only 200 companies worldwide to earn a coveted presentation slot at the 21st annual New York Venture Summit this week. The...

  • Headline: HEMPALTA Invests in Cutting-Edge Sustainability with Purchase of Biochar Units from High Plains Biochar

    Headline: HEMPALTA Invests in Cutting-Edge Sust...

    HEMPALTA is excited to announce the strategic purchase of two advanced biochar units from High Plains Biochar LLC, a leader in eco-friendly biochar technology. Biochar, or charcoal that is produced...

    Headline: HEMPALTA Invests in Cutting-Edge Sust...

    HEMPALTA is excited to announce the strategic purchase of two advanced biochar units from High Plains Biochar LLC, a leader in eco-friendly biochar technology. Biochar, or charcoal that is produced...

1 of 3