Jet.AI Launches Commercial and Private Aviation Carbon Offset Platform, DynoFlight
September 28 2023 - 8:30AM
Jet.AI Inc. (“Jet.AI” or
the “Company”) (NASDAQ: JTAI), an innovative private
aviation and artificial intelligence (“AI”) company, announced
today the launch of DynoFlight – a simple and credible way to
offset emissions from 250 different types of aircraft in a working
capital efficient manner. The Company will host a webinar to demo
the platform on Friday, Sept. 29 at 10 a.m. PT.
“The DynoFlight platform allows for flight-by-flight carbon
removal credit purchases at competitive costs, and we vet the
credits for you,” said Mike Winston, Executive Chairman and Founder
of Jet.AI. “Today, Jet.AI is featuring Carbon Dioxide Removal
(“CDR”) credits thanks to our relationship with Glanris. Unlike a
majority of carbon credits that focus on emission reduction, CDR
credits actively remove CO2 from the atmosphere and store it
through various methods – making them the highest quality credits.
Glanris pulls CO2 and stores it in their patented Biocarbon®
biochar.”
By facilitating the offset of carbon emissions through the
purchase of CDR credits, DynoFlight allows aviation businesses a
straight-forward way to fund the direct extraction of carbon
dioxide from the atmosphere. DynoFlight offers operators the
flexibility to purchase high quality removal credits at around $200
per ton. Most other aviation programs use avoidance or other types
of carbon credits which don’t actually remove CO2. CDR companies
like Glanris are critical to meeting the Intergovernmental Panel on
Climate Change’s goals on mitigating climate change. Operators can
purchase these removal credits through Jet.AI’s online DynoFlight
interface or programmatically using its API. Further key
capabilities of DynoFlight include the ability to:
- Register CO2 Removal Certificates (“CROCs”) through
Puro.earth's carbon removal registry.
- Record carbon emissions for specific aircraft to track stats
across fleets.
- Query DynoFlight's carbon estimation endpoint to receive
emissions estimates on any given route for over 250 of the most
common commercial and business aircraft models using either
sustainable aviation fuel or standard jet fuel.
- Seamlessly check out and manage the carbon credit lifecycle via
a certificate page that dynamically updates as the credit is
purchased, procured, and retired.
DynoFlight’s initial supplier of carbon credits is Glanris – a
leading CDR company manufacturing patented Biocarbon® biochar with
applications in water filtration, the built environment, soil
amendment and more. Bryan Eagle, Founder and CEO of Glanris, has
been a long-time advisor for Jet.AI.
Register for Jet.AI’s DynoFlight webinar here:
https://us02web.zoom.us/webinar/register/WN_xTf4xD5nQ2-hHqBSssnzrg.
About Jet.AI: Jet.AI operates in two
segments, Software and Aviation, respectively. The Software segment
features the B2C CharterGPT app and the B2B Jet.AI Operator
platform. The CharterGPT app uses natural language processing and
machine learning to improve the private jet booking experience. The
Jet.AI operator platform offers a suite of stand-alone software
products to enable FAA Part 135 charter providers to add revenue,
maximize efficiency, and reduce environmental impact. The Aviation
segment features jet aircraft fractions, jet card, on-fleet
charter, management, and buyer’s brokerage. Jet.AI is an official
partner of the Las Vegas Golden Knights, 2023 NHL Stanley
Cup® champions. The Company was founded in 2018 and is based
in Las Vegas, NV and San Francisco, CA.
About Glanris: Glanris is a climate-tech
company that manufactures a patented, sustainable, low-cost
biocarbon from agricultural waste materials. Glanris’ Biocarbon is
being used in applications as diverse as water filtration, cement
replacement, concrete aggregates, and as a soil amendment. The
company's process is carbon negative, reduces greenhouse gases and
sequesters carbon. Glanris’ Carbon Dioxide Removal (CDR) credits
are registered on Puro.earth and the company’s patented technology
can be easily deployed globally, quickly scaling to meaningful
carbon removal at the lowest cost of any other CDR methodology.
About Puro.earthPuro.earth is
the world’s leading crediting platform for engineered carbon
removal. Aiming at climate and economic impact, its mission is to
mobilize the world’s economy to reward carbon net-negative
emissions. Puro provides voluntary corporate buyers long-term
carbon removal procurement portfolios to fulfill net zero pledges,
by identifying suppliers, verifying their negative emissions, and
issuing CO2 Removal Certificates (CORCs) with the Puro Standard,
the first carbon standard for engineered carbon removal. Trusted by
leading organizations, Puro.earth is driving forward a market of
carbon negative industries, enabling a new revenue stream for
carbon removal suppliers to accelerate their growth. In 2021,
Nasdaq acquired a majority stake in
Puro.earth www.puro.earth
Forward-Looking Statements This press
release contains certain forward-looking statements within the
meaning of the federal securities laws with respect to the products
and services offered by Jet.AI and the markets in which it
operates, and Jet.AI’s projected future results. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties that could cause the
actual results to differ materially from the expected results. As a
result, caution must be exercised in relying on forward-looking
statements, which speak only as of the date they were made. Factors
that could cause actual results to differ materially from those
expressed or implied in forward-looking statements can be found in
the Registration Statement and the amendments thereto on Form S-4
filed with the Securities and Exchange Commission (File No.
333-270848) and other documents filed by the Company from time to
time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Readers are cautioned not to put
undue reliance on forward-looking statements, and Jet.AI assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether because of new information,
future events, or otherwise.
Contacts: Gateway Group,
Inc. 949-574-3860 Jet.AI@gateway-grp.com
Photos accompanying this announcement are available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/18b93334-1fa1-4dae-b6a1-d05ae1ca6dd5
https://www.globenewswire.com/NewsRoom/AttachmentNg/6091d753-ed65-410a-9867-af31075252a0
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