News
AgCert Issued with 245,000 Carbon Credits
Point Carbon - December 27, 2007
The UN body that administers the clean development mechanism (CDM) issued 245,000 carbon credits since early last week, with all the credits issued to the one project developer.
The CDM executive board issued the credits to five livestock farms in Mexico and Brazil owned by Agcert, a UK-based company that cuts emissions of methane, a potent greenhouse gas.
EDF Trading, which buys carbon credits on behalf of the European utility, is listed as the likely buyer of credits from the projects.
The Kyoto mechanism enables companies in developing countries to earn money from the sale of carbon credits to governments and the private sector that have targets to cut their emissions of greenhouse gases.
Meanwhile, a handful of projects were given final approval by the UN and got registered as CDM projects in the past week, including a wind farm in China that undertakes to cut generate 185,000 carbon credits for oil company Shell.
The total number of registered projects currently is 881. The EB has now issued a total of 100.6 million CERs.
About AgCert ™
AgCert International plc was founded in 2002 to produce and sell reductions in greenhouse gas emissions (referred to as "offsets") from agricultural sources on an industrial scale. These offsets are intended to satisfy the requirements of the Kyoto Protocol and be capable of being traded on the European cap and trade system, the European Union Emissions Trading Scheme ("EU-ETS").
AgCert ™ has identified agriculture as one of the largest commercial opportunities for Offset production and expects to be a leading supplier of offsets from this sector. Agriculture is responsible for around 20 per cent of the world's annual greenhouse gas emissions. Under the Kyoto Protocol, any reductions in greenhouse gas emissions derived from this sector qualify as CERs provided they are derived from projects that have been validated by a DOE and Registered by the UN Executive Board and are properly verified and certified according to the stringent requirements laid down by the UN.
The Group's strategy is to expand rapidly its offset production and resultant sales capacity by commencing the modification of Animal Waste Management Systems ('AWMS') on farms where it has already entered into arrangements with farmers and by rolling out its turnkey AWMS modification methods both geographically and across additional livestock species beyond its current focus on swine through the entry into contracts with additional farms.
More information about AgCert™'s greenhouse gas reduction projects can be found at www.agcert.com.
The shares of AgCert International plc (the “Shares”) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act"). The Shares may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons as such term is defined in Regulation S under the Securities Act except (1) in a transaction meeting the requirements of Regulation S under the Securities Act, (2) pursuant to an effective registration statement under the Securities Act, or (3) pursuant to an available exemption from the registration requirements of the Securities Act, in each case in accordance with all applicable securities laws, including applicable state securities laws of the United States.