Ostrom Climate Reports Fiscal Q2 2024 Financial Statements

Vancouver, BC - August 29, 2024 - Ostrom Climate Solutions Inc. has released its financial results for the second quarter ended June 30, 2024. A significant rise in revenues was reported, driven by the expansion of its Verified Emission Reduction (VER) units and consulting services, despite a higher net loss due to strategic investments.

Q2 2024 revenue increased by 186.6% to $578,123, compared to $201,724 in Q2 2023. Gross profit rose to $369,000 from $95,707 last year. Net loss for the quarter reached $856,934, up from a net loss of $553,958 in Q2 2023, attributed to higher operational expenses and investments including its Climate-Smart Agriculture Project in the Philippines.

Operational advancements include the expansion of the Upper Pampanga River Climate-Smart Agriculture Rice Project (UPRIIS). A Cooperation Agreement with Klima 1.5 Corp was also announced, focusing on Afforestation, Reforestation & Revegetation projects in the Philippines. Additionally, Tarlochan Deol was appointed to the board of directors.