CLEVELAND, OHIO – (December 15, 2022) – MALACHITE INNOVATIONS, INC. (OTC Mkts: MLCT) (“Malachite”), a public company focused on improving the health and wellness of people and the planet, today announced the launch of Terra Preta, Inc. (“Terra Preta”), a new wholly-owned operating business focused on producing proprietary forms of biochar for agricultural and water filtration markets.
Terra Preta is developing a fully-integrated process of biochar production, which includes growing carbon capturing plants that are then harvested and processed through a high-temperature oxygen-free pyrolysis oven, thus locking in the carbon captured in the plant and preventing the release of damaging carbon dioxide into the atmosphere. Terra Preta finishes its biochar production process by incorporating a novel combination of ingredients and structural designs anticipated to result in several first-of-its-kind agricultural and water filtration products.
Michael Cavanaugh, Malachite’s Chief Executive Officer, stated that “Our organization is deeply committed to generating novel ideas to reverse global warming and return the people-planet ecosystem to a more balanced, sustainable state. We believe that Terra Preta, an impact-oriented business with a negative carbon footprint, perfectly embodies this corporate philosophy as it uses proprietary biochar products to promote the growth of agricultural crops and passively filter damaging contaminants from our waterways without the use of harsh chemicals.” Cavanaugh added, “Terra Preta has the potential to disrupt the large agricultural and water filtration markets through the sale of proprietary products that offer a compelling value proposition while simultaneously improving the quality of our environment.”
About Malachite Innovations, Inc.
Headquartered in Cleveland, Ohio, Malachite Innovations, Inc. is a public holding company dedicated to improving the health and wellness of people and the planet through a novel and innovative approach to impact investing. Malachite owns and operates a balanced portfolio of operating businesses focused on developing long-term solutions to social and environmental challenges, with a particular focus on economically disadvantaged areas. Malachite takes an opportunistic approach to impact investing by leveraging its competitive advantages and looking at solving old problems in new ways. Malachite seeks to thoughtfully allocate its capital into ventures that are expected to be highly profitable to maximize its positive impact on the people-planet ecosystem and generate strong investment returns for its shareholders.
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This press release contains “forward-looking statements” as that term is defined in Section 27(a) of the Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors that could cause actual outcomes and results to be materially different from those indicated in such statements. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies, timing of clinical trials and product development, business strategy and new lines of business. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Malachite Innovations, Inc.
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