RED.L Regulatory News (RED)

23 Dec 2009 07:01



23 December 2009

Camco International Limited (the 'Company')

Structured carbon transaction

Camco, a global emissions reduction company, is pleased to announce the completion of another successful carbon commercialisation transaction.

The transaction involved the sale of the Company's rights comprising in specie of 2.5m tonnes from a portfolio of projects for upfront net cash proceeds of €6 million, with further payments upon delivery. All cash proceeds are non recourse with respect to CER delivery. 

Scott McGregor, Camco Chief Executive, commented: 

"This transaction further demonstrates the constant demand for Camco high quality projects. Moving into 2010 our cash position is robust, demand for our projects is strong and we are well positioned in each of our key markets."

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About Camco

Camco is a global emissions reduction company. We offer a full range of carbon-related services to public and private organisations worldwide. The Group has a 20-year track record and manages one of the world's largest carbon credit portfolios.

The Group consists of three business segments:

The Carbon credits business unit is a leading project developer with one of the world's largest carbon credit portfolios. We partner with companies to identify, develop and manage projects that reduce greenhouse gas emissions, and then arrange the sale and delivery of carbon credits to international compliance buyers and into the voluntary market.

The Advisory practice combines specialist technical, strategic and financial expertise and experience accrued over two decades to deliver a sustainable low carbon society. We are positioned to work with our clients to turn climate change liabilities into economic, social and environmental assets. 

Camco Investments works with project and technology developers, early stage businesses and investor groups to commercialise climate change mitigation technologies, projects and services.