Formerly known as Tracesafe, ShiftCarbon (CSE: SHFT) is a company developing a platform that enables clients of all sizes to measure their emissions, establish thorough reduction goals, and incorporate carbon offsetting into their operations. The company's mission is straightforward: understand your impact and decarbonize your future. Through intelligent sensors and AI-powered software, the company assists its customers in knowing where they are at all times and in reducing their emissions. Shiftcarbon has already attracted 50+ clients from more than 40+ nations.

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First, what are carbon offsets benefits?

We can’t list them all, but we may give a few of them to have a better understand about how important they are:

• Give people, companies, and organizations the freedom to be accountable for their own climate impact and to act as climate change leaders by going above and beyond any existing regulations or incentives from the government.
  
• By giving project developers an additional source of income, you can assist in making greenhouse gas reduction projects more financially feasible.
  Encourage innovation and bring economic and environmental benefits to the areas where the offset projects are taking place.
  
• Aid in improving knowledge of the scope and expense of greenhouse gas emissions, the need for reductions, and the most effective places to focus reduction efforts. For many organizations and people, learning about these issues for the first time comes from calculating emissions in order to buy offsets.
  Put a cost on the carbon a company emits.
  

ShiftCarbon’s vision

One of the most crucial metrics for assessing corporate value is carbon emissions. However, a Boston Consulting Group survey found that 91% of businesses are not accurately reporting their carbon emissions. ShiftCarbon was created for this reason, a platform that enables clients of all sizes to assess their emissions thoroughly, set objectives for reduction, and integrate carbon offsetting into their operations. The company has created a product that aids businesses in comprehending the full picture of their carbon emissions. ShiftCarbon helps its customers to always know where they stand rather than hiring consultants who spend weeks creating spreadsheets. Through intelligent sensors and AI-powered software, businesses should be able to reduce their emissions proactively. By purchasing the highest-quality carbon credits from significant initiatives to their clients and local communities, they can make up for everything else.

The business teamed up with Green Marine, a voluntary environmental certification program for the North American maritime sector, last year. Through this membership, Shiftcarbon will be able to connect with the Green Marine network, which includes over 40 ship owners, and highlight its services that help them improve their environmental performance and, as a result, help them realize their environmental and carbon-neutrality goals. The company's solution will enable Green Marine participants to quantify and balance their carbon emissions.

ShiftCarbon replaced TraceSafe as the company's name on December 15, 2022. The new name reflects the company's new strategic focus on sustainability products that support customers in meeting stakeholder and regulatory climate disclosure requirements and offer creative ways to integrate carbon offsets into customers' operational processes.

“This is an exciting new chapter for the company,” said Wayne Lloyd, ShiftCarbon CEO. “The Taskforce on Scaling Voluntary Carbon Markets” has estimated that demand for carbon credits could increase by a factor of 15 or more by 2030 and be worth upward of $50 billion in 2030. We believe that our unique approach to decarbonization will propel the trading of carbon credits and help enterprises–and the world–reach our ambitious goals for reaching net zero.”

Regarding the TraceSafe branch, it has more than ten years of experience in developing hardware-assisted software solutions that can transform any environment and offer useful information for enhancing operational safety, effectiveness, and sustainability on a large scale. Solutions from TraceSafe that are Internet of Things (IoT) enabled improve operations for extensive industrial and business applications. The business has assisted Fortune 500 companies and governments in finding solutions to some of their most difficult operational problems. TraceSafe has an unrivaled history of finding innovative solutions to challenging business issues, including decreasing hospital wait times, managing pandemic response, hosting safe international events, and managing workers at various construction sites.

Financing Closed

On November 28, ShiftCarbon declared that its oversubscribed private placement had been closed. It initially had a total value of $190k after selling 1,9M shares for a price of $0.10 each. The sale of up to 6.5 million shares allowed the final placement to exceed $656,000. Each share is entitled to one warrant, with an expiration date of 24 months and an exercise price of $0.25 per share. ShiftCarbon compensated qualified finders under this private placement with an $18.3k cash finders fee and 183k transferable warrants. The exercise price for each finder warrant is $0.10 for a 24-month period. Costs associated with the offering are intended to be covered primarily by the net proceeds from the offering.

Bottom Line

ShitCarbon is positioned for expansion (CSE: SHFT). The board was able to move toward carbon offsets and had established partnerships with well-known major corporations like Green Marine. With smart cities emerging and zero-net emission becoming more crucial, ShiftCarbon seems to be a fantastic opportunity to get involved in now more than ever.

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