Cellular Goods PLC - London-based cannabinoid skincare manufacturer and carbon sequestration service developer - Subsidiary King Tide Carbon produces kelp-derived biochar with 28% carbon content, a "major milestone" that "paves the way for carbon dioxide removal credit production and a range of applications in agriculture, environmental restoration and industry". Says high carbon content makes King Tide's biochar an effective tool for carbon sequestration, and that kelp-derived biochar has potential for agricultural applications since it can enhance soil fertility. Adds that King Tide will continue to refine and scale its process to make kelp-derived biochar accessible on a larger scale.
Interim Chief Executive Officer Darcy Taylor says: "The company remains dedicated to pioneering sustainable solutions that benefit both the environment and society. This development of our first kelp-derived biochar production for delivery of carbon sequestration credits and a range of applications in agriculture and environmental restoration, marks a significant milestone in our strategy to provide carbon sequestration-as-a-service."
Current stock price: 0.50 pence, up 11% in London on Monday afternoon
12-month change: down 68%
By Emma Curzon, Alliance News reporter
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