noco-noco Inc. (NASDAQ: NCNC), (“noco-noco”), signed a
Memorandum of Understanding with Binex Inc. Tokyo (“Binex”) to
jointly develop agriculture-based carbon-credits.
Photo: Sorghum Cultivation in Thailand
With its core mission in climate action to
reduce carbon emissions, noco-noco, apart from its X-SEPA™
separator technology that extends lithium-ion battery life by
approximately five times, also collaborates with partners to
develop carbon credits. Currently, with thousands of hectares of
nature-based deforestation credits under development in Papua New
Guinea, noco-noco seeks to diversify into agriculture-based carbon
credits by collaborating with Binex.
Binex is currently engaged in advancing the
production of biofuels by cultivating sorghum, a member of the
Gramineae family. The specific variety of sorghum used boasts high
yields, capable of generating substantial biomass. Developed
through collaborative research with the University of Tokyo, Binex
aims to revolutionize the biofuel industry with this innovative
approach. While conventional grain-type sorghum has a biomass of 40
to 60 tons/hectare/yeari, the types of sorghum that Binex uses have
yields of over 250 tons/hectare/yearii.
In the face of escalating climate challenges,
Binex’s sorghum project aligns with multiple United Nations
Environmental, Social, and Governance (ESG) goals, including
enhancing food security, reducing carbon emissions, improving soil
health, and boosting farmers' livelihoods. Sorghum, known for its
resilience, thrives in marginal lands, enhancing soil quality.
Utilizing sorghum stalks and leaves for biofuel production offers
an eco-friendly alternative to oil and coal, complementing its
traditional food cultivation purpose. This innovative initiative is
poised to generate carbon credits through significant soil carbon
sequestration during cultivation.
Armed with sorghum cultivation data from various
countries and 10,000 hectares’ worth of sorghum seeds currently in
stock and ready to be deployed, Binex will embark on large-scale
cultivation soon. Cultivation was initiated in Thailand last year
(See photo in article) and Binex plans to begin cultivation in
Australia later this year.
Sorghum, with its deep roots and resilient
components resistant to degradation, offers a tangible opportunity
for soil carbon sequestration. Historically, estimating soil carbon
storage during crop cultivation has been challenging due to its
susceptibility to decomposition and variability based on land
conditions. By prioritizing persistent components with enduring
stability spanning hundreds or even thousands of years,iii this
initiative is poised to establish the credibility and permanence
necessary for high-quality carbon credits.
Studies by Binex have shown that through its
lignite content, only 18 to 20 tons of carbon per hectareiv can be
sequestered and maintained without degradation over an extended
period. Further research is underway to increase carbon capture
content, such as non-tillage cultivation and the use of bacteria
for carbon capture, and it is projected that more carbon can be
sequestered by combining these methods. Through methods like
cultivation in root boxes and measurement of actual root mass,
Binex aims to accurately quantify the carbon content within these
roots progressing to project root mass in large-scale cultivated
areas. By focusing on the carbon sequestered in the persistent
components of the root, Binex will work towards the development of
GHG sequestration and the production of high-quality carbon
credits.
Mr. Masataka Matsumura, CEO of noco-noco,
conveyed his excitement about the partnership, saying, "We're
thrilled to collaborate with Binex as we advance our mission to
decarbonize and provide enhanced solutions with quality carbon
credit offerings to our customers in the EV and battery
manufacturing sector seeking to decarbonize.”
i Based on test results commissioned by Binex.ii Based on test
results commissioned by Binex. iii Data from research papers and
hearings with specialists are referenced.iv Quantity of persistent
components in roots when biomass is harvested at a rate of 200
tons/hectare.
Read more about
noco-noco:https://noco-noco.com
Read more about Binexhttps://binex.jp/en/
For more about Binex news
releasehttps://binex.jp/en/home#newsBinex and Nissan Collaboration
in supplying sorghum-derived bioethanol fuel for stationary power
generation
About noco-noco Inc:
noco-noco Inc. (Nasdaq: NCNC) is a technology
solutions provider working to accelerate the global transformation
to a decarbonized economy. With its focus on commercializing
innovative battery technology, the revolutionary X-SEPA™
technology, a separator and electrolyte battery technology
developed in Japan forms the core of the technology. X-SEPA™
lengthens battery life and provides a high level of thermal
stability by enabling batteries to have high heat-resistant
performance without compromising performance at low temperatures.
noco-noco aims to address sustainability by enhancing the economic
life of batteries for 1st and 2nd life use while minimizing
resource wastage to provide affordable and sustainable energy
storage solutions.
About Binex Inc:
Binex was established to earnestly address food,
environmental, and energy issues and construct a value chain for
biofuel. Binex aims to breed and cultivate sorghum varieties that
sequester large quantities of carbon dioxide during growth; supply
sorghum grain as a foodstuff; produce and supply biofuel from
sorghum residue such as leaves and stalks; provide fuel cells that
use biofuel as a hydrogen carrier; utilize biofuel in semiconductor
manufacturing, fuels for internal combustion engines, and
petrochemical raw materials; and develop additional applications,
including chemical products that replace fossil fuels with
biomass-derived materials.
Safe Harbor Statement:
This press release contains forward-looking
statements within the meaning of section 27A of the U.S. Securities
Act of 1933, as amended (the “Securities Act”), and section 21E of
the U.S. Securities Exchange Act of 1934 (“Exchange Act”) that are
based on beliefs and assumptions and information currently
available to noco-noco. In some cases, you can identify
forward-looking statements by the following words: “may,” “will,”
“could,” “would,” “should,” “expect,” “intend,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “project,”
“potential,” “continue,” “ongoing,” “target,” “seek” or the
negative or plural of these words, or other similar expressions
that are predictions or indicate future events or prospects,
although not all forward-looking statements contain these words.
Any statements that refer to expectations, projections, or other
characterizations of future events or circumstances, the markets in
which noco-noco operates as well as any information concerning
possible or assumed future results of operations of noco-noco, are
also forward-looking statements. These statements involve risks,
uncertainties, and other factors that may cause actual results,
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basis for each forward-looking statement contained in this
communication, noco-noco cautions you that these statements are
based on a combination of facts and factors currently known and
projections of the future, which are inherently uncertain.
noco-noco cannot assure you that the forward-looking statements in
this communication will prove to be accurate. These forward-looking
statements are subject to a number of risks and uncertainties,
including, among others, the impact of the global pandemic like
COVID-19, the outcome of any potential litigation, government or
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may be additional risks that noco-noco presently does not know or
that noco-noco currently believes are immaterial that could also
cause actual results to differ from those contained in the
forward-looking statements. In light of the significant
uncertainties in these forward-looking statements, you should not
regard these statements as a representation or warranty by
noco-noco and its respective directors, officers or employees or
any other person that noco-noco will achieve their objectives and
plans in any specified time frame, or at all. The forward-looking
statements in this press release represent the views of noco-noco
as of the date of this communication. Subsequent events and
developments may cause those views to change. However, while
noco-noco may update these forward-looking statements in the
future, there is no current intention to do so, except to the
extent required by applicable law. You should, therefore, not rely
on these forward-looking statements as representing the views of
noco-noco as of any date subsequent to the date of this
communication.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b6dc8504-1741-4461-ac45-c17da73e0855
For media inquiries, please email:
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