Abaxx Announces First Carbon Futures Delivery on Abaxx Exchange

/EIN News/ -- TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, today announced the successful first delivery under a carbon futures contract on Abaxx Exchange.

The delivery, involving 50 lots of May 2025 CORSIA¹ Phase 1 Carbon Offset Unit Futures (“CP1”) priced at USD $24.25/tCO₂e², validates the clearing, delivery, and settlement processes underpinning Abaxx Exchange’s physically-deliverable futures contracts. It marks the first live exercise of Abaxx’s end-to-end infrastructure for managing the transfer of environmental assets through a regulated futures market.

The transaction was completed between Mercuria Energy Trading SA (METSA) and a U.S. based counterparty, with Eagle Commodities, a division of Marex, facilitating the original trade. Clearing services were provided by KGI Securities, Marex, and another bank clearing firm.

The delivery involved the transfer of eligible CORSIA Phase 1 carbon units from Mercuria to a registry account established for the buyer, fulfilling the delivery obligations under the May 2025 CP1 futures contract.

“This marks the first delivery through Abaxx’s carbon futures infrastructure, a contract structure designed to support price formation, risk management, and forward planning,” said Alasdair Were, Head of Environmental Markets at Abaxx Exchange. “These are the functions needed to make environmental markets investable and connect capital to climate-linked exposures.”

“We are proud to support the execution, clearing and delivery of the May 2025 CORSIA Phase 1 Carbon Offset Unit Futures,” said Ken Ong, CEO of KGI Securities. “This transaction underscores the strength of Abaxx Exchange’s infrastructure and our commitment to sustainable finance, empowering clients in the evolving environmental asset landscape.”

The CORSIA Phase 1 Carbon Offset Unit Futures contract, launched in June 2024, is part of Abaxx Exchange’s growing suite of physically-deliverable products across energy, environmental, battery materials, and precious metals markets.

Abaxx’s full suite of futures contracts is open for trading 14 hours a day, Monday through Friday. For a full list of clearing firms and execution brokers, visit our market directory.

About Abaxx Technologies

Abaxx Technologies is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transition.

In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Exchange and Abaxx Clearing, and the parent company of wholly owned subsidiary Abaxx Spot Pte. Ltd., the operator of Abaxx Spot.

Abaxx Exchange delivers the market infrastructure critical to the shift toward an electrified, low-carbon economy through centrally-cleared, physically-deliverable futures contracts in LNG, carbon, battery materials, and precious metals, meeting the commercial needs of today’s commodity markets and establishing the next generation of global benchmarks.

Abaxx Spot modernizes physical gold trading through a digitally integrated, physically-backed gold pool in Singapore. It is set to become the first market infrastructure to align spot and futures gold markets in the same location—enabling secure electronic transactions, efficient OTC transfers, and physical delivery for Abaxx Exchange’s gold futures contracts to deliver smarter gold markets.

For more information, visit abaxx.tech | abaxx.exchange | abaxxspot.com | basecarbon.com | smartermarkets.media

For more information about this press release, please contact:

Steve Fray, CFO
Tel: +1 647-490-1590

Media and investor inquiries:

Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 647-490-1590
E-mail: ir@abaxx.tech

¹ Carbon Offsetting and Reduction Scheme for International Aviation
² Tonne of carbon dioxide equivalent

Cautionary Statement Regarding Forward-Looking Information

This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward- looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.

Forward-looking information related to Abaxx in this press release includes, but is not limited to: the business plans and objectives of Abaxx; the development of new products, futures contracts, markets and technologies and associated benefits. Such factors impacting forward-looking information include, among others: the inability to receive regulatory approvals in connection with financings or inability to finalize transaction documentation; risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third-party software license risk; system failure risk; risk of technological change; dependence of technical infrastructure; changes in the price of commodities; capital market conditions; restriction on labor and international travel and supply chains; and the risk factors identified in the Company’s most recent management discussion and analysis filed on SEDAR+. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward- looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Cboe Canada does not accept responsibility for the adequacy or accuracy of this press release.