TORONTO, ON / ACCESSWIRE / September 16, 2021 / ITOCO INC. (OTC PINK:ITMC) is pleased to have received final signatures on an initial 1,014 hectares of Nopal Cactus Plantations in State of Mexico and Hidalgo State, Mexico from 125 individual farmers.
ITOCO has applied to "Verra Standard (VCS)" for the certification of approximately US $750k in Carbon Credits based on the extractive properties of the Nopal Cactus plant vis a vis Carbon on this first 1,014 hectares. ITOCO's expectation is to be in receipt of funds upon verification by Verra. Carbon Credit numbers are based on the lowest value per ton received on similar packages.
The Government of Mexico has strongly endorsed the Paris Agreement that was adopted at the twenty-first session of the Conference of the Parties ("COP") to the United Nations Framework Convention on Climate Change (UNFCC) to mitigate Green House Gas ("GHG") emissions.
The Nopal Cactus Growers of the Sub-commission of Nopal, Tuna and Maguey of the Commission of Agriculture and Irrigation of the Lower House of Congress of the Union and The Chamber of Deputies aims to support the Nopal Cactus Growers in Mexico. Today, through its 11,382 members, the Sub-commission has made available 61,121 Hectares under management to this program.
Itoco has contracted about 60,000 hectares of Nopal Cactus Plantations in Mexico and is in the process of final contracting on each individual package. The land package represents the farming activities of about 11,000 individual farmers in Mexico.
ITOCO will be announcing additional final contracts in the near future.
ITOCO estimates that its land package will yield up to US $45 million annually in Carbon Credits. ITOCO has the right to collect and administer the majority of these credits on behalf of producers.
ITOCO is in advanced negotiations to add substantially more property in Mexico and Internationally.
Representatives of ITOCO will also attend the Fifth International Nopal Conference on September 17 - the International Day of Nopal.
Attendees at the conference will exchange knowledge about many aspects of the Nopal (Prickly Pear) Cactus. Various Universities, Producers, Processors, Farmers, and Agro Scientists are attending the conference.
One of the objectives of the conference is to increase awareness of the nutraceutical value of the Nopal Cactus among participating universities, producers cactus processors, students, and farmers.
Topics will include the discussion and transfer of ideas related to the good management, breeding, and growing of Nopal.
The Nopal Cactus captures Carbon permanently from the atmosphere, yields delicious fruit and juice, is edible in its entirety, is an effective base for bio-fuel, can be turned into quality synthetic leather, and has significant soil and land remediation properties.
While ITOCO's focus in on Carbon Capture, we will also be seeking to advance the other useful applications of the plant with local and international partners.
About ITOCO Inc.:
ITOCO's mission is to be a global leader in developing, distributing, and producing Bio Tech related technologies and methodologies in a compliant environmentally friendly manner. ITOCO Inc. trades on the OTC Markets, symbol: ITMC. ITOCO is a 14-year-old publicly quoted specialty Bio Tech development, production and distribution company based in Toronto Canada and Nevada USA. Itoco seeks to partner with outstanding individuals and companies within this field to joint venture, research, and co-develop Bio Tech related products and technologies to the market.
Forward-Looking Statements
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, potential, intends, plans, hopes, or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
CONTACT:
Michael Paul, C.E.T.
President & CEO
ITOCO INC
ir@itoco.net
+1-800-805-1521
www.itoco.net
SOURCE: ITOCO Inc.
View source version on accesswire.com:
https://www.accesswire.com/664312/ITOCO-Receives-Final-Agreement-on-an-Initial-1014-Hectares-of-Nopal-Cactus-Plantations-in-Mexico-for-the-Purpose-of-Carbon-Credit-Capture-and-Will-Attend-Dia-Internacional-Del-Nopal-En-Mexico
