StereoVision Entertainment Inc. (OTCMKTS:SVSN): DASCO Sends Biochar Purchase Letter of Intent to Eco Allies Florida Biochar Plant and SuperGreenTree Forest Project
Nevada-based company StereoVision Entertainment Inc. (OTCMKTS:SVSN) is a publicly traded organization that has award-winning industry professionals on board. It is involved in climate change mitigation through its wholly-owned subsidiary Climate Cure Capital and creating, producing, and distributing family-friendly multi-media content with its wholly-owned 9-time Emmy-Award-winning production company REZN8.
Market Stats
On Thursday, SVSN stock moved down 8.48% to $0.0151 with more than 446K shares, compared to its average volume of 571K shares. The stock moved within a range of $0.0151 – 0.0170 after opening trading at $0.0165.
Eco Allies® Florida Biochar Plant and SuperGreenTree Forest Project Gets Biochar Purchase Letter of Intent from DASCO
Eco Allies, which is a subsidiary of StereoVision, announced on August 11, 2022, that its renewable and sustainable project to be situated in Florida on approximately 1,500 acres of farmland has received a biochar purchase Letter of Intent (LOI) from DASCO Inc.
DASCO Inc., an internationally recognized leader in providing crop nutrients and industrial chemicals, has provided an LOI to purchase a substantial percentage of Eco Allies’ anticipated Florida biochar production. It has a keen interest in the product known as medium biochar, produced with the proprietary technology of Biochar Now. DASCO (a customer of BioChar Now) wants to utilize the biochar manufactured at Eco Allies Florida facility, for clients located in Florida and surrounding states for the removal of nitrates and phosphate in water. Initial demand for medium biochar is more than 6000 short tons annually.
The planned Eco Allies branded biochar plant income is to be generated from the production of 19,000 Short Tons of Eco Allies branded biochar annually. The facility is to produce the only USDA-approved biochar livestock feed additive. Methane content in animal excrement can be minimized by as much as 25%, thanks to this additive.
The Eco Allies biochar plant is designed to operate under BioChar Now’s proven and tested manufacturing procedures. BioChar Now’s top-quality biochar sells for as much as $1.00 per pound. Visionary CEO of Biochar Now, James Gaspard is a member of the Eco Allies Board of Directors.
The planned Eco Allies Florida facility is to be powered by renewable energy and there is adequate acreage available for future expansion of Eco Allies scalable solar farm. The excess energy produced will be sold to the grid. The overall project will be registered with Verra and is expected to create verified carbon and methane offset credits that can be sold as Voluntary Emission Reduction Credits in the International markets.
The CAPEX for the project is budgeted at $12 million and would be funded through equity from Eco Allies $20 million Reg A+ IPO made effective by the SEC, debt, or a combination of both. Combining biochar sales and carbon and methane credit sales, the revenue of the project is expected to exceed $20 million in the first 12 months of operation. Biochar production at Eco Allies Florida biochar plant can start as soon as nine months after groundbreaking.
Traders Corner
SVSN stock is trading above the 20-Day and 50-Day Moving averages of $0.0154 and $0.0209. However, the stock is trading below the 200-Day moving average of $0.0207.
