Welcome!

News Feed Item

ERA Carbon Offsets Ltd. Announces Significant First Sale and Delivery of Offsets from Mai Ndombe REDD+ Project in the DRC

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/01/13 -- ERA Carbon Offsets Ltd. ("ERA" or the "Company") (TSX VENTURE:ESR) is pleased to announce that it has completed its first sale and delivery of carbon offsets from its landmark Mai Ndombe REDD+ (Reduced Emissions from Deforestation and Degradation) project in the Democratic Republic of Congo. The buyer is Forest Carbon Group AG ("FCG"), based in Frankfurt Germany. A total of 300,000 offsets from the first vintage of approximately 2.5 million verified offsets were transacted.

This transaction is the first sale and delivery of Mai Ndombe REDD+ offsets to occur under a three year sales agreement with FCG under which ERA will deliver a total of 1.1 million offsets through the end of 2014. Following this initial delivery, subsequent delivery is scheduled to occur in tranches of 100,000 offsets in each quarter throughout 2013 and 2014.

The Mai Ndombe REDD+ project is the first REDD project originating in the DRC to be fully validated and verified, and the first REDD project in the ecologically rich Congo Basin. Developed in partnership between ERA and Wildlife Works LLC, Mai Ndombe REDD+ will produce approximately 175 million offsets over its 30 year project life. Mai Ndombe was recently validated and verified by internationally recognized auditing firm Det Norske Veritas, under both the Verified Carbon Standard (VCS) and double Gold level, Climate, Community and Biodiversity Alliance Standard (CCBA). The project is considered a pilot for the United Nations REDD Programme approach of establishing REDD+ on provincial levels within the DRC.

Dr. James Tansey, CEO of ERA stated, "We are very excited to reach another significant and important milestone in the development of the Mai Ndombe REDD+ project. Following its validation and verification this past December, we are pleased to see early support from the marketplace, which is necessary for important projects like Mai Ndombe to flourish. We'd like to thank Forest Carbon Group for their valuable support and multiyear commitment to Mai Ndombe and its people."

Alexander Zang, CEO of FCG, said: "We strongly believe that this project offers great values and we are proud to be the first anchor buyer of Mai Ndombe offsets. The project contributes to preserve the second largest rainforest in the world. Besides its manifold benefits for the earth's and region's climate and biodiversity, we and our clients were attracted by the strong commitment to improve local people's livelihoods. The project indeed offers a ray of hope in the fight against deforestation, poverty and marginalization in this region of the DR Congo." He added, "Mai Ndombe will be a cornerstone of Forest Carbon Group's mission to build up more demand for forest carbon projects in the voluntary market. We are confident that other buyers will follow our lead, and would like to thank ERA and Wildlife Works LLC for the tremendous work and achievements on the ground."

Granting of Stock Options

The Company also wishes to announce that it has granted, to Directors, officers, employees and consultants, a total of 275,000 incentive stock options at an exercise price of $0.21 exercisable for a period of five (5) years.

James Tansey, Ph.D., President and CEO

ERA Carbon Offsets Ltd.

About ERA Carbon Offsets Ltd.

As Canada's largest and most diversified carbon management solutions company, ERA Carbon Offsets Ltd. helps organizations understand, reduce and offset their climate impact. Its team of industry leaders specializes in the origination, development and commercialization of high-quality carbon offset projects and is proud to also provide clients with a comprehensive offering of sustainability consultancy services. A merger of ERA Carbon Offsets and Offsetters, ERA Carbon Offsets Ltd. is based in Vancouver, Canada and has worked with over 150 of the world's most prestigious organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE - Entega, and Shell Canada Limited. ERA is publicly listed company on the Toronto Venture Exchange (TSX VENTURE:ESR) and in Frankfurt:9EA. For more information, please visit us at www.eraecosystems.com and www.offsetters.ca.

FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of forest-based carbon offsets. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although ERA Carbon Offsets Ltd. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Leading cloud-centric IT organizations are establishing core capabilities to improve productivity, control costs and provide a highly responsive end-user experience. Key steps along this journey include creating an end-user cloud services catalog, automating workflows and provisioning, and implementing IT showback and chargeback. In his session at 19th Cloud Expo, Mark Jamensky, executive vice president of Products at Embotics, will walk attendees through an in-depth case study of enterprise I...
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...