Alkemy Capital. Regulatory News (ALK)

23 May 2007 07:01

Alkane Energy PLC23 May 2007 For Immediate Release 23 May 2007 Alkane Energy plc Verification Process Started for Alkane's Carbon Emissions Savings Alkane Energy plc (AIM: ALK), a world leader in renewable electricity generation technology, is pleased to announce that it has signed a contract with Dutch emissions trading company Carbon-TF B.V. to verify its current and historic emissions savings from the capture and use of coal mine methane from post mining activities. TUV Nord, a world leader in emissions measurement and accredited by the UNFCCC (United Nations Framework Convention on Climate Change), has started an investigation into the verification of Alkane's data on methane capture, collected as a matter of 24/7 routine at its plants. The objective is to verify all or part of Alkane's last 7 years' emissions savings, which total several million tones of carbon dioxide equivalent. Once verified, Carbon-TF would trade these Verified Emissions Reductions (VERs) on Alkane's behalf for an agreed commission. VERs are actual emissions reductions generated by the capture of damaging greenhouse gases, especially methane, and they are purchased by international companies that emit large quantities of greenhouse gases in order to reduce their carbon footprints. Commenting on the development, Cameron Davies, Chief Executive of Alkane, said: "The recognition by Carbon-TF of Alkane's emissions savings - and its agreement to trade our VERs - provides the opportunity for future income for the business, as Alkane grows its numbers of plants in operation." Editors Note Methane is a potent greenhouse gas with a net global warming potential 18.25 times that of carbon dioxide. The practical effect of this in terms of emissions trading is that capturing 1 tonne of methane produces 18.25 emissions credits in comparison with 1 credit per tonne of carbon dioxide. Enquiries: Alkane Energy plc Buchanan CommunicationsDr Cameron Davies, Chief Executive Ben Willey, Associate Director Nick Melson, Account ManagerTel: 01623 827927 Tel: 0207 466 5000 This information is provided by RNS The company news service from the London Stock Exchange