Eco (atlantic) Regulatory News (ECO)

5 Jun 2007 14:41

EcoSecurities Group plc05 June 2007 PRESS RELEASE Africa update EcoSecurities announces expansion of operations in Africa after contracting over 12 million carbon credits in the region so far in 2007 Dublin, June 5th, 2007: EcoSecurities, a leading company in the business ofsourcing, developing and trading carbon credits from greenhouse gas (GHG)emission reduction projects, announce that they are expanding their operationsin the African region. Since January 2007 the Company has firmed up contracts todevelop Clean Development Mechanism (CDM) projects in Africa with the potentialto generate over 12 million carbon credits, bringing the total volume of itsAfrican credit portfolio to over 15 million. EcoSecurities Group has world class experience with projects in the areas ofrenewable energy, agricultural and urban waste management, industrial efficiencyand forestry. The Group recognises the potential of carbon trading in attractinginvestment for activities in Africa, which in turn would revert in positivesocial and environmental benefits for the region as a whole. With this in mind,EcoSecurities is currently in the process of expanding and strengthening itsoperations in Africa, and is forging links with local organisations so that itsefforts are directed to sectors which are considered a priority in the region. In Africa, EcoSecurities' portfolio of projects employs a variety of emissionreduction technologies, including the production and use of bio-ethanol as asubstitution for fossil fuels, hydroelectricity, natural gas power and solarwater heaters. In South Africa, EcoSecurities is involved in the development ofaround a quarter (24%) of the projects currently listed by the South AfricanDesignated National Authority (DNA). EcoSecurities has also seen a growinginterest in developing CDM projects in East and West Africa, with over 7 millioncarbon credits signed to date in these regions. Country Director South Africa, Henk Sa, commented "Africa has the potential tobe one of the most important suppliers of emission reduction credits of anyregion in the developing world, but it is currently lagging behind in comparisonwith India, China and South American countries. EcoSecurities aims to contributetowards closing this gap and help Africa take its rightful place among theglobal leaders in the development of climate change projects." Since the start of its operations in Africa, EcoSecurities, which opened anoffice of 5 staff in Johannesburg in 2006 and now has representatives in Kenya,Swaziland, Zambia, Mozambique, Ghana, Nigeria, Tunisia and Morocco, has workedwith some of the largest corporations in the region including Sappi, Eskom andHighveld Steel Company, involved in both climate change strategies (i.e.portfolio assessments) and internal projects to lower their emissions andgenerate credits. EcoSecurities has also signed a co-operation agreement withStandard Bank to work together to identify potential projects in a variety ofsectors in the African continent. -Ends- For further information please contact: Jill BarkerMarketing ExecutiveEcoSecuritiesTel: +44 (0) 1865 202 635Email: jill.barker@ecosecurities.com Or Rachel MountainGlobal Marketing ManagerEcoSecuritiesTel: +44 (0) 1865 202 635Email: rachel.mountain@ecosecurities.com Editor's Notes: About EcoSecurities: EcoSecurities is one of the world's leading companies in the business oforiginating, developing and trading carbon credits. EcoSecurities structures andguides greenhouse gas emission reduction projects through the Kyoto Protocol,working with both project developers and buyers of carbon credits. EcoSecurities works with companies in developing and industrialising countriesto create carbon credits from projects that reduce emissions of greenhousegases.EcoSecurities has experience with projects in the areas of renewableenergy, agriculture and urban waste management, industrial efficiency, andforestry. With a network of offices and representatives in 20 countries on fivecontinents, EcoSecurities has amassed one of the industry's largest and mostdiversified portfolios of carbon projects. Today, the company is working on 426projects in 36 countries using 18 different technologies, with the potential togenerate more than 178 million carbon credits. EcoSecurities Group plc is listed on the London Stock Exchange AIM (tickerECO.L). Additional information is available at www.ecosecurities.com. This information is provided by RNS The company news service from the London Stock Exchange