Shares of ITOCO partners (OTCMKTS:ITMC) have been trending higher in the past week with a jump of 11%.
On Thursday, ITMC stock fell 0.04% to $0.2349 with more than 296k shares, compared to its average volume of 135k shares. The stock has moved within a range of $0.2000 – 0.2385 after opening trade at $0.2385.
ITOCO partners (OTCMKTS:ITMC) with LATINCHOICE – UNIPESSOAL LDA on a joint venture, to launch its Nopal Cactus Carbon Capture Program in Portugal. It is one of the steps to expand this program on an international level, after it has achieved great success in Mexico.
The program captures carbon from the atmosphere on a permanent basis, via the Nopal Cactus, while being an extremely beneficial cash crop as well. Introducing the Cactus into arid landscapes can result in successfully re-establishing trees, grasses, and other plants, in otherwise barren landscapes. The Nopal Cactus can trap up to 30 tons of carbon dioxide per hectare per year!
Europe is pushing for Carbon reduction programs big time, while ITOCO is introducing its unique Carbon Capture initiative, as a technique to reduce carbon naturally, which can also rehabilitate arid areas of the continent. LATINCHOICE’s expertise in business development and government relations, and their extensive network of key partners throughout Europe will definitely come in handy.
In Mexico, the Nopal Cactus farming innovations showed that it could leverage the cacti’s superb adaptation to dry and arid landscapes, which include fixing carbon dioxide at night and closing the spores (stomata) during the day. Thus, producers could earn carbon credits at a fast pace in only 12 months! This program is a cost-effective way to protect Mother Nature and start rehabilitating land and soil.
ITMC stock is trading above the 20-Day and 200-Day Moving averages of $0.2385 and $0.21 respectively. However, the stock is trading below the 50-Day moving average of $0.25. The stock is up 10% over the past 3-month.