Therm Announces First Refrigerant Projects Listed on New Canadian Compliance Marketplace
LAKE FOREST, IL: Therm, a leading climate-tech company, announces its first international project and entry into the compliance market with the listing of the first refrigerant system projects on Canada's new Output-Based Pricing System (OBPS), marking a significant milestone in advancing sustainable refrigeration practices and reducing greenhouse gas emissions. These three inaugural projects represent 28 grocery retail locations, generating credits through their choice to use low-GWP refrigerants instead of traditional, high-pollutant refrigerants.
The 28 projects are located in Alberta, British Columbia, and Saskatchewan Provinces and are predominantly newly constructed locations, demonstrating a proactive commitment to environmental stewardship by choosing climate-friendly systems from the outset, completely forgoing the use of traditional, super-pollutant refrigerants. Therm’s flagship product, Refrigerant Carbon Credits™, positions the company as one of the few project aggregators in the market, providing local and regional businesses with accessible entry into the carbon market without significant financial barriers.
Refrigerants, some of the world's most potent greenhouse gases, are an essential part of the food supply chain. Despite the availability of climate-friendly alternatives, high costs deter many grocers from adopting these solutions. The carbon market incentivizes action by making sustainable systems more accessible and affordable. This accelerates the adoption of climate-friendly technologies and ensures immediate environmental benefits while paving the way for long-term sustainability in the food supply chain.
“The time to act on climate change is now, and adopting climate-friendly refrigerants is a crucial step towards reducing our carbon footprint,” said Fritz Troller, CEO and co-founder of Therm. “We're dedicated to empowering grocery stores to make a meaningful impact by embracing sustainable practices that benefit both the environment and their bottom line.”
This historic milestone Therm initiates the beginning of a new compliance framework for Canada’s largest emitters, setting a precedent for innovative climate action within the region. The OBPS, which launched on April 1, 2024, has rigorous standards for verifying emissions reductions and only issues credits after one year of meticulous monitoring, guaranteeing that its credits truly represent real, irreversible emission reductions. Credits from Thern’s projects will be available in 2025, after a year of measured and verified climate impact.
Therm is poised to further decarbonize the food chain by expanding its solution set and geographic reach. With rapid growth fueled by sustainable practices and a proven track record in delivering effective projects, Therm continues to lead the way in driving environmental impact across global markets.
About Therm: Therm helps the food supply chain become more climate friendly by monetizing climate action. We develop and market carbon credits to reward grocery retailers, food distributors, and dairy farmers for their climate-conscious decisions in refrigeration systems and food waste management. Therm is a group of practical environmentalists dedicated to promoting scalable and sustainable climate solutions around the world.