Malachite Innovations, Inc. announced the launch of Pristine Stream Ventures, Inc. (Pristine Stream), a new wholly-owned operating business focused on mitigation banking to restore and preserve environmentally degraded streams and wetlands. A mitigation bank is a stream, wetland or other aquatic resource area that has been restored or preserved for the purpose of providing compensation for environmental impacts to other aquatic resources. A mitigation bank is created to ensure that ecological loss resulting from new development is offset by the restoration and preservation of other nearby natural habitats so there is no net loss to the environment.

Regulatory agencies determine the number of mitigation credits that a mitigation bank may earn and sell for each specific restoration project, and likewise, the number of mitigation credits that a developer must purchase to offset the environmental impact of each new development project. Pristine Stream is planning to establish mitigation banks to restore and preserve damaged rivers, streams and wetlands throughout the Appalachian Region to earn mitigation credits, which Pristine Stream would then sell to developers to offset the impact of development activities in similar geographical areas to accomplish the goal of no net loss to the environment. Pristine Stream plans to identify and select qualifying aquatic sites, work closely with applicable federal and state regulatory agencies, and then use Range Environmental Resources, a wholly-owned subsidiary of Malachite, to repair and restore damaged waterways to earn mitigation credits that can be sold by Pristine Stream.