Portugal Colonial - Karbon-X and Evertrak Sign Letter of Intent to Advance Infrastructure-Linked Plastic Waste Reduction Credit Initiative

CALGARY, AB / ACCESS Newswire / May 19, 2026 / Karbon-X Corp. (OTCQB:KARX) ("Karbon-X" or the "Company"), a vertically integrated climate solutions company operating across compliance and voluntary environmental markets, today announced the signing of a Letter of Intent with Evertrak LLC ("Evertrak"), the leading manufacturer of Glass Fiber Reinforced Composite (GFRC) railroad ties made from recycled plastic, to explore an infrastructure-linked Plastic Waste Reduction Credit ("PWRC") initiative under Verra's Plastic Waste Reduction (PWR) Standard.

Across North America, 20 million railroad ties made from wood are replaced annually. Approximately 4-6 million of those ties are less than 12 years old. Safe, resilient, and efficient railroad infrastructure depends on millions of ties supporting active rail systems every day. Evertrak's E7000 GFRC railroad tie is proven to be more durable and reliable than wood in high decay zones where no chemical or species of wood can prevent rot and decay. The E7000 is made from recycled plastic materials and is designed to provide a long-life alternative to traditional infrastructure components while supporting material recovery and circular reuse objectives.

Karbon-X and Evertrak are now exploring how recycled infrastructure applications already operating at industrial scale may participate in emerging environmental markets through the potential generation of Verra-aligned Plastic Waste Reduction Credits tied to recycled plastic recovery and reuse within existing infrastructure systems.

The Parties estimate that approximately 200,000 existing composite railroad ties currently in circulation may ultimately form part of the proposed project scope, subject to technical review, methodology alignment, and applicable validation requirements.

The proposed initiative reflects Karbon-X's continued focus on developing infrastructure-linked environmental assets tied to real-world industrial applications, circular economy systems, and emerging environmental commodity markets. The initiative also represents a strategic expansion of the Company's broader environmental asset development and commercialization platform across emerging sustainability-focused market categories.

As part of the proposed framework, Karbon-X is expected to act as the exclusive project developer during the evaluation and development phase, supporting project feasibility analysis, project documentation, validation coordination, registry engagement, and potential commercialization activities associated with any future issuance of Plastic Waste Reduction Credits.

"What makes this opportunity particularly compelling is the combination of a unique infrastructure product with a real-world circular material application already operating at scale," said James Cahalin, Chief Revenue Officer of Karbon-X. "Evertrak has developed an innovative product that addresses durability, recycled material utilization, and long-life infrastructure needs simultaneously. We believe initiatives like this reflect the growing evolution of environmental markets toward practical industrial applications tied to measurable sustainability outcomes."

Tim Noonan, founder and CEO of Evertrak, added: "Our E7000 tie made from recycled plastic and glass fiber outperforms wood in high decay zones. Our customers want quantifiable durability, reliability, and affordability. This collaboration with Karbon-X delivers quantifiable sustainability and opens a path for real-world infrastructure performance to be recognized in global environmental markets - which is where it belongs."

The proposed initiative will be evaluated under applicable Verra methodology requirements, including additionality, waste diversion criteria, chain-of-custody documentation, and independent third-party validation requirements associated with the recycled plastic inputs.

The Letter of Intent also provides a framework for the Parties to explore potential future infrastructure-linked environmental market opportunities related to subsequent production cycles, subject to further diligence and definitive agreements.

Any future credit issuance or commercialization activities remain subject to technical review, independent validation, registry approval processes, and definitive agreements between the Parties.

About Karbon-X

Karbon-X Corp. (OTCQB:KARX) is a vertically integrated climate solutions company delivering end-to-end services across compliance and voluntary carbon markets. From project origination and emissions quantification to verification support, credit issuance, and market distribution, Karbon-X provides trusted, transparent climate solutions to businesses and institutions globally. For more information, visit karbon-x.com

About Evertrak

Evertrak, based in St. Louis, Missouri, is a U.S. veteran-owned business that provides living wages and benefits to its workforce, many of whom are formerly homeless and/or previously incarcerated citizens. Evertrak holds the AMR M-1003 quality certification. Its Glass Fiber Reinforced Polymer ties are manufactured from recycled plastic. Evertrak delivers value to railroad operations and reduces deforestation, lowers CO2 emissions from wood tie disposal, sequesters plastic, and diverts waste streams from landfills for decades. Learn more at www.evertrak.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding the anticipated development, scalability, implementation, monitoring capabilities, environmental impact, and future potential of the proposed Evertrak-Karbon-X infrastructure-linked Plastic Waste Reduction Credit initiative. Forward-looking statements are based on current expectations, estimates, and assumptions that are subject to risks and uncertainties which could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking statements. Karbon-X undertakes no obligation to update or revise forward-looking statements, except as required by law.

Media Contact

Emma Caputo
VP of Marketing
Karbon-X
[email protected]

SOURCE: Karbon-X Project Inc.

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