Crimson Bioenergy Announces Delivery of 129,545 tonnes of VERs to ERA
February 14 2012 - 1:10PM
PR Newswire (Canada)
VANCOUVER, Jan. 27, 2012 /CNW/ - Crimson Bioenergy Ltd. through its
wholly owned subsidiary CSQ Environmental Technologies Ltd., is
pleased to announce the sale and delivery of 129,545 Verified
Emission Reductions ("VERs") to ERA Carbon Offsets Ltd. (TSX‐V:
ESR). The VERs, defined as one tonne of CO(2) equivalent emissions
reductions, resulted from the successful completion of Crimson's
first afforestation project. The project was independently
validated and verified as ISO 14064-2 compliant. The project
is located near Fort St. John, BC and involved the afforestation of
over 200 hectares of under-utilized land with a combination of
white spruce and hybrid poplar. CSQ and ERA have amended the
amount of VERs to be delivered under their agreement to the 129,545
VERs being transferred, with CSQ retaining full rights to the
additional VER's that will be resulting from the project. In
addition to the business reasons for the project, this undertaking
will also enhance watershed protection in the area and provide
increased habitat for native species of birds and animals. William
W. Carr, President and CEO of Crimson stated, "We are excited to
complete the validation on the Flatrock project and the transfer of
VERs to ERA. We view the Flatrock project as a critical step to
bringing this under-utilized land back to working forest. The
Flatrock lands are a great initial acquisition for the Company."
Duncan Manson, CEO of ERA states, "We are pleased to see this
important pilot carbon project achieve this milestone and deliver
its first tonnes [or 'VERs.'] We'd like to congratulate Crimson for
their diligent work in envisioning the project and bringing it to
life. The Flatrock project demonstrates the efficacy of using
carbon finance as a mechanism to help address the forest
restoration needs of British Columbia." ERA Carbon Offsets Ltd. - A
pioneer in forest restoration and conservation carbon offset
projects, ERA has delivered over two million tonnes of carbon
offsets to the voluntary market. ERA's clients and product
users include Air Canada, Catalyst Paper, Rolling Stone Magazine,
Entega, Forest Carbon Group, and Shell Canada. ERA's carbon
offset products are validated and verified to ISO-14064 and VCS
standards. Crimson Bioenergy Ltd.- has extensive management
expertise in the areas of forest management, forest ecosystem
restoration, energy crops and greenhouse gas offsets (carbon
credits). Crimson is pursuing the development of longer-term wood
fibre/carbon credit plantations that meet the terms of
"Afforestation" under forest carbon offset programs. It also
is developing reforestation projects on under-utilized agricultural
lands for the expanding biomass energy market that involve short
rotation, high density hybrid poplar plantations, called "Energy
Crops", with a 3-to-5 year growth cycle. Additional information on
Crimson Bioenergy can be found at www.sedar.com and on the
corporate website at www.crimsonbioenergy.com or by contacting
csn@crimsonbioenergy.com William W. Carr, President Crimson
Bioenergy Ltd. CONTACT: Peter Fentiman, Investor RelationsCrimson
Bioenergy Ltd.Suite 202 - 5752 176th StreetSurrey, BC V3S 4C8Phone:
(604) 210-0899, orToll free: 1 (855) 225-4844
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