03/15/2019 | Press release | Distributed by Public on 03/15/2019 12:54
Entrex launches Blockchain enabled Carbon Credit Market for private Biodiesel Producers
Boca Raton, FL. March 15, 2019: The Entrex Capital Market, a Joint Venture between Long Blockchain Corporation (OTC: LBCC) and Entrex, is pleased to announce it has launched a Blockchain enabled Carbon Credit Trading Market with approximately 2.5 million tokens; each representing one-ton Carbon Credits.
'This marks an interesting development of our blockchain enabled trading platform which has historically been focused on private securities,' said Stephen H. Watkins CEO of Entrex. 'Private biodiesel producers have found that their production produces Carbon Credits in addition to the actual biodiesel and RINs or EPA Renewable Identification Numbers.'
'With appropriate Certification, we expect that private biodiesel companies could quantify secondary voluntary Carbon credit offsets which may create a whole new income stream for these companies' suggested Ramon Benavides of Global Renewable Strategies and Consulting, LLC. (GRSAC.ORG). 'And frankly that income has minimal cost to these companies resulting in a significant profit for the venture.'
'We chose to work with Entrex since its technology, and regulatory compliance in securities is far ahead of anyone else we've been able to find. The recent IBM case-study suggests their technology has substance, a history of performance and can scale as we bring more biodiesel producers and their Carbon Credits to market,' suggested Gary Johnson of First Global Capital Partners Corp. - a long term advocate of RIN and Carbon Trading for private companies.
'Recently we're getting inquiries to use our Blockchain technology in varying industries including Cannabis growing and certification, Olive Oil supply chain management to even Whiskey barrel securitizations. It is a fascinating fast-moving game around IBMs rapid application and flexible blockchain technology' continues Watkins.
Andy Shape, CEO of Long Blockchain suggests 'We saw the technology assets which the Entrex team built as a significant resource to manage our LBCC movement into globally scalable blockchain technology solutions - outside of their securities initiatives and their leadership role in private Opportunity Zone Funds and Businesses - now it seems the platform can effect trades in Carbon Credits - similarly to Entrex's role in Supply Chain Management systems they have implemented'.
'We are excited to be a leader in trading private Opportunity Funds and Businesses - we were founded to help Entrepreneurs access capital and believe that whether Securities or Carbon Credits if we can help private businesses grow we are meeting our mission and vision,' says Watkins.
About Entrex:Entrex was founded in 2001 as a 'capital market system for entrepreneurial companies.' The LBCC joint venture will utilize Entrex's intellectual properties and blockchain enabling technologies; built and proven over 17 years using IBM's Domino and Hyperledger technology platforms. The Entrex platform originates, structures, offers, places, trades, settles and services debt and equities of entrepreneurial companies through regulated entities that serve investors and issuers. Working together with industry sector leaders and regulated market constituents allows investors to find, research, track, manage, and trade entrepreneurial securities while providing entrepreneurial companies access to capital. www.EntrexCapitalMarket.com
About Long Blockchain Corp.: Long Blockchain Corp. is focused on developing and investing in globally scalable blockchain technology solutions. It is dedicated to becoming a significant participant in the evolution of blockchain technology that creates long-term value for its shareholders and the global community by investing in and developing businesses that are 'on-chain.' Blockchain technology is fundamentally changing the way people and businesses transact, and the Company will strive to be at the forefront of this dynamic industry, actively pursuing opportunities. Its wholly-owned subsidiary Long Island Brand Beverages, LLC operates in the non-alcohol ready-to-drink segment of the beverage industry under its flagship brand'The Original Long Island Brand Iced Tea®.' For more information on the Company, please visit www.longblockchain.com.
Forward-Looking Statements:This press release includes statements of the Company's expectations, intentions, plans and beliefs that constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company's business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These also include statements relating to the anticipated benefits of the announced transaction between the Company and Entrex. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as 'may,' 'will,' 'should,' 'expects,' 'intends,' 'plans,''anticipates,' 'believes,' 'thinks,' 'estimates,' 'seeks,' 'predicts,' 'could,' 'projects,' 'potential' and other similar terms and phrases, including references to assumptions. These forward-looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks, and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward-looking statements. These risks include the Joint Venture's ability to successfully pursue its business plan, the possibility that the Company's equity interest in the Joint Venture may be diluted as a result of capital raises by the Joint Venture, the possibility that Entrex may have the right to repurchase the previously contributed assets for nominal consideration, the Company's ability to develop and commercialize new technologies, the Company's history of losses and expectation of further losses, its ability to expand its operations into blockchain technologies, its ability to develop or acquire new brands, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption 'Risk Factors.' When considering these forward-looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward-looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.