RED.L Regulatory News (RED)

17 Oct 2007 07:00

Camco International Ltd17 October 2007 Camco International Limited Camco announces new Voluntary Emission Reduction Projects in China Camco International Limited (Camco) is a leading carbon asset developer with oneof the world's largest carbon credit portfolios. The company works closely withindustrial companies to identify and develop projects that reduce greenhouse gasemissions and then arranges for the sale and delivery of carbon credits tobuyers in compliance and voluntary markets. Camco is delighted to announce that it has signed a contract with Honiton EnergyHoldings plc to act as its exclusive carbon development partner through to theend of 2009. The projects under development by Honiton in China are expected togenerate up to 3.3 million tonnes of voluntary emission reductions over theirfirst crediting period. The greenhouse gas abatement associated with theseprojects has been taken into account by Honiton from an early stage. Camco willnow assist Honiton to qualify the emissions reductions generated by the projectsaccording to the highest-level international standard applicable, therebycreating maximum value from the carbon opportunity. Honiton Energy is China's fastest-growing foreign renewable energy provider.Honiton currently owns the rights to develop five extensive project sites inChina's Inner Mongolia region. With the potential to produce up to severalhundred megawatts of power each, the sites could power millions of homes.Honiton is planning to construct 150MW of wind turbine capacity by the end of2008 with the first turbines becoming operational this year. Clean energy onthis scale will prevent several million tonnes of carbon dioxide from beingreleased into the atmosphere. Jeff Kenna CEO, Camco said: "Inner Mongolia accounts for 40% of China's windresources. We are very pleased to be supporting Honiton to develop this lowcarbon resource which has such a great potential". Paul Eveleigh, CEO and Founder of Honiton Energy commented: "The innovativeapproach and expertise provided by Camco is in line with our own ideals of beinga world-class organisation, I am very pleased that they have been able to usethis expertise to provide us with a way of monetising the contribution we aremaking to the environment". Contact details For further information please contact: Camco International Limited +44 (0) 20 7121 6100James Graham, Commercial Director PressGavin AndersonKen Cronin/Kate Hill +44 (0) 20 7554 1400 Notes to editors The Camco Group is a pioneering business with an outstanding track recordcreating value in the sustainable energy and low carbon markets. The Group worksclosely with major companies worldwide, establishing partnerships to turn ourclients' climate change liabilities into economic, social and environmentalassets. The Camco Group consists of three business segments: Camco is a leading carbon asset developer with one of the world's largest carboncredit portfolios. We work closely with industrial companies to identify anddevelop projects that reduce greenhouse gas emissions and then arrange for thesale and delivery of carbon credits to international compliance buyers and intothe voluntary market. The consulting practice combines specialist technical, strategic and financialexpertise and experience accrued over two decades to deliver a sustainable lowcarbon society. through supporting major companies to find ways to reduce theirenvironmental impact. The consulting practice consists of Bradshaw, ECCM, ESDand ESD Sinosphere. Camco Ventures collaborates with project and technology developers, early stagebusinesses and investor groups to commercialise climate change mitigationtechnologies, projects and services. The recently announced Climate Leaders Fundwhich is a $100m joint venture with Tudor Capital and Gaian Capital, is part ofthis business. This information is provided by RNS The company news service from the London Stock Exchange