Viterra Inc.
TSX : VT

Viterra Inc.
ENMAX Energy Corporation

November 07, 2008 12:12 ET

Viterra Signs Carbon Credit Supply Agreement With ENMAX Energy

REGINA, SASKATCHEWAN--(Marketwire - Nov. 7, 2008) - Viterra Inc. (TSX:VT) is pleased to announce it has signed a ten-year agreement to supply carbon offset credits to ENMAX Energy Corporation ("ENMAX Energy"), Alberta's leading competitive electricity retailer.

"Our long term arrangement with ENMAX Energy ensures our customers will have access to a reliable market for their carbon credits through two financially strong partners," said George Prosk, Viterra's Senior Vice-President of Financial Products. "We are pleased to be working with a company who shares our commitment to sustainability practices that help protect the environment."

Viterra purchases and aggregates carbon offset credits from Alberta farmers, based on the Alberta government's protocols for tillage system management. They are generated through no-till or reduced-till practices on their agricultural land, which decrease greenhouse gas emissions.

"This agreement reflects ENMAX Energy's commitment to manage its greenhouse gas emissions while at the same time supporting sustainable farming practices," noted Dave Rehn, ENMAX Corporation's Executive Vice President of Generation and Wholesale Energy. "Going forward, ENMAX Energy will continue to identify opportunities to invest in carbon offsets as well as in renewable energy resources."

Alberta producers are encouraged to call 1-866-712-1090 to determine their eligibility and to receive additional information on Viterra's carbon credit program.

Viterra Inc. is Canada's leading agri-business, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States, Japan and Singapore. The Company is diversified into sales and services of crop inputs and equipment, grain handling and marketing, livestock feed, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the Toronto Stock Exchange under the symbol VT.

ENMAX Energy Corporation, a subsidiary of ENMAX Corporation, is Alberta's leading competitive electricity retailer. ENMAX Energy also provides natural gas and value-added services to residential, commercial and industrial customers throughout Alberta. Through a subsidiary, ENMAX Energy is one of Alberta's largest investors in renewable energy with partial ownership of the McBride Lake Wind Farm and complete ownership of the Taber and Kettles Hill Wind Farms. ENMAX Energy's Greenmax was one of the first green power marketing programs in Canada, and celebrates its 10th anniversary in 2008. Visit our website at enmaxenergy.com.

Contact Information

  • Viterra Inc.
    Susan Cline
    Investor Relations and Corporate Affairs
    (306) 569-6948
    Website: www.viterra.ca
    or
    ENMAX Energy Corporation
    ENMAX Media Line
    (403) 689-6150
    Website: www.enmax.com