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Hempalta Secures Full Ownership of Hemp Carbon Standard to Advance Global Sustainability
Canadian agri-tech firm Hempalta has fully acquired the Hemp Carbon Standard (HCS), solidifying its leadership in the voluntary carbon market. The company purchased the remaining 49.9% stake from ClimaFi, a UK-based blockchain carbon credit marketplace, for $63,544 (CAD90,000).
Canadian farmers cultivating a field of industrial hemp. AI generated picture.
This move follows Hempalta's initial acquisition of a 50.1% stake earlier this year and strengthens its ability to generate carbon credits through industrial hemp farming. Gaining full ownership provides Hempalta with control over HCS's proprietary technology for carbon measurement, reporting, and verification.
HCS leverages a digital framework to support farmers in establishing credible baselines, developing climate action plans, and monitoring progress. The platform's ‘HCS Carbon Certificates’ certify carbon capture and long-term storage through innovative methods such as regenerative agriculture, biochar, and biomass burial.
In 2023, HCS sequestered 15,325 tonnes of CO2, selling over 3,000 carbon credits by mid-2024. Looking ahead, the company projects 50,000 tonnes of nature-based carbon removal credits in 2024, targeting a minimum price of $25 per tonne.
The acquisition includes performance-based payments to ClimaFi if HCS meets sales milestones for 2023 and 2024 credits. These additional payments could total up to $285,000 (CAD410,000), contingent on achieving specific revenue goals.
Currently managing 13,556 acres of hemp farms across Canada, the US, and other regions—a threefold increase from last year—Hempalta is poised to scale its sustainability programs globally. This expansion will benefit farmers, landowners, and corporate buyers seeking impactful carbon solutions.
