Eco (atlantic) Regulatory News (ECO)

24 Jul 2006 07:02

EcoSecurities Group plc24 July 2006 EcoSecurities Group plc ("EcoSecurities" or "the Company") Approval of Methodology by CDM Paves Way for Major N2O Carbon Credit Projects EcoSecurities is pleased to announce that a N2O abatement technology has beenapproved by the Clean Development Mechanism ("CDM") methodology panel. Theapproval marks a major step forward in EcoSecurities' plans to generate carboncredits from the contracted N2O abatement projects within its portfolio. The approval of the methodology (NM0143) at the 25th meeting of the CDMmethodology panel in Bonn (19-21 July) is the first for N2O abatement projects,a significant industrial pollutant that is a major greenhouse gas, being 310times more potent than CO2. The approval of the NM0143 methodology 'Catalytic Reduction of N2O inside theammonia burner of nitric acid plants' is of particular relevance to the statusof EcoSecurities' project portfolio as it will enable the Company to progresswith the development of N2O abatement projects in the eight nitric acid plantsin China, with which the Company recently signed development agreements. These N2O projects are expected to generate up to 9 million tonnes of CertifiedEmission Reductions (CERs) to 2012, one of the most significant additions to theCompany's carbon credit portfolio to date. Pedro Moura Costa, President and COO of EcoSecurities said "N2O projects form asignificant part of our contracted CER portfolio. This methodology approval,the first in the world, is extremely important for us as it will enable us tobegin construction of our N2O abatement projects in China, which will not onlygenerate a large volume of carbon credits but significantly assist China'ssustainable development programme by introducing new technology and expertise tothe country." - Ends - For further information please contact: EcoSecuritiesBruce Usher, CEO +1 212 356 0166Pedro Moura Costa, COO +44 (0) 1865 202 635 Citigate Dewe Rogerson +44 (0) 20 7638 9571Kevin Smith / Geb Brumby This information is provided by RNS The company news service from the London Stock Exchange