Company: RNGE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024206
Chunk: 103

Company: RANGE IMPACT, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 contracts and one 25-year solar lease with a
multi-national corporation for the development of a large-scale solar project located on more than 1,500 acres at the Fola
Mine.

In June 2025, Range Sky
acquired an additional two mining permits at the Fola Mine and assumed an associated coal mining lease (“Winoc
Acquisition”). As part of the Winoc Acquisition, the Company recognized an asset retirement obligation of $10,399,477 and
derecognized a reclamation bond obligation of $5,184,920.

Range
Services

Range
Services is our operating business segment that provides environmental and operational support services to help reclaim and repurpose
former mine land into next-generation uses. All of the Company’s reclamation, water treatment and security employees, equipment
and trucks, and technological innovations are classified within the Range Services business segment. Range Services is dedicated to reclaiming
and repurposing land owned by the Company and does not currently provide any reclamation, water treatment or security services to third-parties.

Reclamation
support services on mine sites includes grading, recontouring, revegetation, erosion control, and other activities necessary to meet
federal and state post-mining land use requirements. Water treatment services include the operation and maintenance of passive and active
treatment systems designed to manage and treat mine-impacted water, including acid mine drainage, in compliance with applicable environmental
permits. Range Services is also responsible for collecting water samples, coordinating testing with certified laboratories, and treating
water with chemicals and other more innovative solutions, such as the Company’s proprietary biochar water filtration products and
system currently in development. Range Services also provides physical site security, access control, and risk mitigation activities
to ensure the safety, compliance, and regulatory protection of the Company’s land assets.

Competition

Our
Company is focused on a large and growing marketplace for impact investing initiatives, and therefore, is anticipated to face competition
from a variety of operating businesses and investment funds who are developing similar business plans and operating strategies to satisfy
the increasing demands of these types of investments in the marketplace. In many cases, these competitors are larger and better capitalized
operating businesses and investment funds.

Our
Company competes on the basis of a number of factors, including our geographic focus on Appalachia, access to mission-driven energy-transition
capital, access to impact investing opportunities, strategic relationships with reclamation bond insurance companies, recruitment and
retention of key personnel,