Company stakes its claim in the carbon market with unique software and hardware system that creates a solution for generating, validating, and trading carbon tokens.
SAN DIEGO, April 10, 2024 (GLOBE NEWSWIRE) -- Dalrada Financial Corporation (OTCQB: DFCO, “Dalrada,” “the Company”), announced today that it had filed a provisional patent application with the United States Patent and Trademark Office for a unique system and method for mining carbon utility tokens.
The announcement of the application (no. 63/567,852), comes on the heels of the Company’s exciting news that it had created a data mining tool specifically for the carbon market that would work with next-generation climate and clean energy technology like heat pumps, as well as certain legacy machinery.
Additionally, filing the provisional patent application further protects Dalrada’s interests within a booming carbon credit market currently worth approximately $100 billion.
“We’re very excited about this patent application and what it means for us,” said Dalrada CEO, Brian Bonar. “The opportunity to eventually join existing voluntary carbon markets (VCMs) and compliance carbon markets (CCMs), including California’s Cap-and-Trade Program, while potentially creating an entirely new market, proves viability and brings long-term value to the Company,” Bonar added.
The innovative software and hardware system itself delivers a fully-transparent process that analyzes real-time energy use as well as historical data from consumers and energy providers alike. To further ensure legitimacy, the validity and value of each carbon utility token is authenticated through robust third-party oversight.
Today’s announcement represents one of a handful of patent applications featuring technologies and methods related to carbon markets and carbon mitigation efforts, which also include:
- The methods and processes for implementing green energy solutions (provisional application no. 63/521,016).
- Processes and methods to produce predictive carbon sequestration maps and accompanying carbon credits (provisional application no. 63/545,136).
The carbon-specific patent applications aren’t the first or the last for Dalrada, nor are they the only type the Company focuses on. “In response to shareholder inquiries, we’re proud of our track record of innovation and protecting our ideas through the filing of many patents and patent applications in order to protect our intellectual property. We’ll continue to take the necessary steps to safeguard them,” according to Bonar.
About Dalrada Corporation
Dalrada Financial Corporation (OTCQB: DFCO) is a multi-national holding company that develops, manufactures, and sells a robust suite of products and services in the Clean Energy and Health Care sectors. Dalrada’s core segments include Dalrada Climate Technology, which offers cutting-edge heat pump technology for industrial and residential applications, and Genefic Specialty Pharmacy, which provides end-to-end prescription services as well as patient advocacy and support.
Dalrada Financial Corporation consistently drives innovation that delivers maximum impact, bringing increased value to its shareholders.
For more information, please visit www.dalrada.com, and follow us on LinkedIn, Facebook, Twitter, and YouTube.
Forward-Looking Statements
Statements contained in this press release, other than statements of historical fact, particularly statements relating to cost reductions and the anticipated pre-tax savings from the cost reduction program, restructuring costs, footprint rationalization, simplifying and streamlining our operations, reducing complexity, enhancing the speed of decision-making, leveraging our sourcing capabilities and the timing of implementation and completion of the cost reduction program, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “forecast,” “project,” “plan,” and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of many events outside the Company’s control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Media contact: Michael Eslinger (meslinger@dalrada.com)
