Base Carbon Announces Fourth Issuance of Carbon Credits From Rwanda Cookstoves Project

TORONTO, March 25, 2026 (GLOBE NEWSWIRE) — Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. (“BCCPC”, together, with affiliates, “Base Carbon”, or the “Company”), is pleased to announce the issuance of 639,609 carbon credits from the Rwanda Cookstoves Project (the “Project”), marking the fourth issuance from the Project and the first issuance of carbon credits following the successful transition of the Project to Verra’s VM0050 methodology. Upon the purchase of required insurance, the carbon credits are expected to receive Carbon Offsetting and Reduction Scheme for International Aviation (“CORSIA”) eligible tagging, further strengthening the Project’s inventory of high-integrity, compliance-aligned carbon credits.

The 639,609 carbon credits are held by Base Carbon’s Rwanda project partner, the DelAgua Group (“DelAgua”), pursuant to the Project agreement and revenue sharing arrangement. The direct generation of credits under the updated VM0050 methodology further validates the integrity of the transition and demonstrates the Project’s consistent and reliable operational performance, which the Company expects to support a regular cadence of streamlined issuances with CORSIA-eligible tagging going forward.

Upon confirmation of CORSIA-eligible tagging from Verra, the credits from this latest issuance will be immediately available for sale and delivery into global aviation carbon offsetting markets. Building on the Project’s first CORSIA-eligible tagged carbon credit sales completed earlier this year, the Company continues to engage in active sales discussions and RFP processes with prospective offtakers. Given its strong financial position and growing portfolio of eligible carbon credits, the Company intends to remain both strategic and opportunistic in its monetization approach, balancing near-term revenue generation with long-term inventory value maximization as the CORSIA compliance market continues to mature.

“Following the Project’s successful transition to VM0050, this fourth issuance, and the first produced directly under the updated methodology, reflects the full maturation of the Rwanda Cookstoves Project as an asset generating CORSIA-eligible credits on a regular cadence,” said Michael Costa, CEO of Base Carbon. “With our first CORSIA-eligible sales underway, an attractive supply and demand environment in CORSIA’s first compliance period and expected near-term additions to our CORSIA-eligible inventory, we believe Base Carbon is well positioned within a critical component of the global compliance carbon market. Disciplined execution, opportunistic inventory monetization and recurring project production will drive continued value accretion for our enterprise and our shareholders.”

About Base Carbon 

Base Carbon is a financier of projects involved primarily in the global voluntary carbon markets. We endeavor to be the preferred carbon project partner in providing capital and management resources to carbon removal and abatement projects globally and, where appropriate, will utilize technologies within the evolving environmental industries to enhance efficiencies, commercial credibility, and trading transparency. For more information, please visit www.basecarbon.com. 

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Cautionary Statement Regarding Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the focus of Base Carbon’s business, the timing and ability to complete the sale of carbon credits, the purchase of certain credit insurance, the expected tagging of CORSIA-eligible carbon credits by Verra, the application of the Paris Agreement, the receipt of proceeds from the disposition of carbon credits or revenue sharing arrangements, the implementation of the CORSIA framework and timing of eligibility and participation of carbon credits and carbon credit methodologies thereunder, the market demand and price of CORSIA-eligible carbon credits and the expected issuance of carbon credits and timing thereof. In some cases, but not necessarily in all cases, forward-looking information may be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans” or variations of such words and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. These statements should not be read as guarantees of future performance, results, or achievements.

Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking information are based upon reasonable assumptions and expectations, readers should not place undue reliance on forward-looking information because it involves assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking information.

In respect of the Rwanda cookstoves project, certain factors that influence the commercial success of the project, including the timing and number of expected carbon credits, include among other things: (i) the Company has retained industry leading experts/consultants/advisors to assist with the evaluation, planning, negotiation and execution of the project, (ii) the work product, including monitoring reports, of the project’s validation and verification body, (iii) project carbon credit market prices, (iv) the verification of ongoing project monitoring reports and issuance of carbon credits by Verra, (v) changes to laws, regulation or policies in applicable jurisdictions, and (vi) the Company has sufficient funds on hand to make any required carbon credit purchase price payments.

In respect of the Rwanda cookstoves project, certain assumptions that influence the commercial success of the project, including the timing and number of expected carbon credits, include among other things: (i) distributed cookstoves perform to specification when used and participating households use the devices as contemplated by project estimates, (ii) the Company’s in-country project partner, the DelAgua Group, perform their obligations in connection with the development and operation of the project, (iii) there is no further changes in the project methodologies used by the applicable carbon credit registry or otherwise adopted by project proponents which results in less carbon credits being issuable, (iv) positive market recognition of the attributes linked to the Company’s carbon credits (such as project methodologies and changes thereto) and acceptance of such carbon credits by emissions trading schemes or compliance programs such as CORSIA, and (v) continued participant involvement and public support, including that of applicable governmental authorities, of the voluntary and compliance carbon markets.

The forward-looking statements made herein are subject to a variety of risk factors and uncertainties, many of which are beyond the Company’s control, which could cause actual events or results to differ materially and adversely from those reflected in the forward-looking statements. Readers are cautioned that forward-looking statements are not guarantees of future performance. Specific reference is made to the management’s discussion and analysis for the Company’s quarter ended September 30, 2025 and the most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities (and available on www.sedarplus.ca) for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Should one or more of the risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual events or results may vary materially and adversely from those described in the forward-looking information. The forward-looking information contained in this press release is provided as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.