Spectaire and Sankofa LTD Announce Sale of $750,000 USD of Carbon Offset Credits

WATERTOWN, Mass., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Spectaire Holdings Inc. (NASDAQ: SPEC) (“Spectaire”), a provider of air quality monitoring and emissions reduction services, is pleased to announce the sale of 12,500 carbon offset credits for $750,000 USD with Sankofa LTD (“Sankofa”) acting as broker to the transaction. This transaction marks a significant milestone in the carbon offset marketplace, as management believes these credits will be some of the first credits sold based on measurement of actual emissions in the field.

Traditionally, carbon offsets are approved at the program level where the environmental impact is estimated, and carbon credits are issued based on those projections. Through AireCore, Spectaire measures emissions directly in the field resulting in what management believes are some of the first carbon credits sold based on the measurement of actual reductions.

Carbon credits play a pivotal role in the infrastructure of emissions reduction. However, the market is challenged by the lack of precision and credit level auditability. With AireCore, each credit can be audited to see when and where the reductions occurred as well as what specific gases were impacted. Management expects the specificity and traceability of Spectaire’s next generation offsets to give consumers enduring value through carbon credits backed by measured results.

"As the demand for carbon credits increases, the historical land-use based supply does not offer the same level of traceability and specificity as those measured through AireCore. The world needs carbon credits that are accurately measured to achieve the NET ZERO targets confidently," said Brian Semkiw, Founder and CEO of Spectaire. "Sankofa continues to be an excellent partner finding environmentally progressive companies, who are taking affirmative action to reduce Scope 1 and Scope 2 emissions and complementing those efforts through investment in carbon credits."

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"Sankofa is committed to the use of carbon offsets in addition to operational reduction in emissions,” said Aviram Malik, CEO of Sankofa LTD. "This initial placement of 12,500 credits with a client who understands the value in carbon credits that are measured not estimated is a great first step in the adoption of a new baseline of carbon credit transparency. Sankofa recommends to our clients to not just invest in carbon offsets but to take ownership of the selection criteria and we believe educated clients understand Spectaire measured carbon credits will appreciate in value over time."

About Spectaire

Spectaire (Nasdaq: SPEC) is a provider of air quality monitoring and emissions reduction services. Spectaire is dedicated to delivering effective solutions that help businesses worldwide reduce their carbon footprint, with a focus on creating high-quality, traceable carbon credits.

About Sankofa

Sankofa (https://sankofa.earth/) is positioned to impact the carbon credit market by injecting liquidity and transparency into carbon credit transactions. Through their active role in transactions connecting progressive buyers and sellers of innovative technology-driven credits, Sankofa helps restore a direct flow of capital, with the aim to ensure optimal impact to the United Nations Sustainable Development agenda.

Website: Spectaire.com