Emission Credits Corporation

March 24, 2008 16:08 ET

Emission Credits Corporation Announces Sale of Carbon Offsets

Agreement helps purchaser comply with Alberta Climate Change and Emission Management Act

DIDSBURY, ALBERTA--(Marketwire - March 24, 2008) - Emission Credits Corporation (ECC) today announced the sale of approximately 400,000 tonnes of offset credits to TransAlta Corporation. The sales agreement with the wholesale power generation and marketing company for agricultural-based carbon offsets will be used to comply with the Alberta Climate Change and Emission Management Act. Commercial terms of the agreement, including price per tonne, are confidential.

The carbon offsets have been created in accordance with the Alberta Tillage Protocol, which stems from the direct and indirect reductions of greenhouse gas (GHG) emissions through the implementation of no-till and reduced till systems on approximately 900 farmers' agricultural lands across the province.

Robert Coulter, Vice President of Emission Credit Corporation indicated that buying an Alberta agricultural-based offset helps the environment now without waiting until 2020. He also commented on ECC's future plans, stating, "We intend to continue to build on this initial success and increase our carbon offset supply to meet the growing demand for top quality science-based offsets for the compliance market in Alberta."

Marjorie Malinowski President of ECC said, "This is the beginning of an exciting value- added revenue opportunity for the farm communities of Alberta using their best farm environmental practices."

Don Wharton, Vice President, Sustainable Development at TransAlta noted, "This is a smart business decision for our company, as the purchase of offsets fits well with our strategy of immediately offsetting the environmental impacts of our existing operations while pursuing new clean fuel technologies and investing in renewable energy. This transaction creates significant savings for us while ensuring that there is a real reduction in greenhouse gases."

Offset credits are instruments created by government that represent one tonne of greenhouse gases reduced from the atmosphere. They are created by an emission reduction action taken by an individual or company and verified independently in accordance with a government-approved protocol. They can be bought or sold, and retired upon delivery by the owner to meet government emission reduction compliance targets.

Alberta facilities that emit more than 100,000 tonnes of greenhouse gases a year are required to reduce their emissions intensity by 12 per cent under the Climate Change and Emissions Management Amendment Act, which came into effect July 1, 2007. Companies have three ways to meet their reductions. They can buy Alberta-based offset credits, make operating improvements, or contribute to the Climate Change and Emissions Management Fund.

Emission Credits Corporation is the province's largest agricultural aggregator of sequestered carbon offsets, producing "live compliance offsets" exclusively from Alberta farmland that can be used in the newly-created Alberta offset market.

Emission Credits Corporation is a privately owned Corporation operating primarily in the Province of Alberta. It gathers and quantifies carbon offsets produced through agricultural activity on behalf of its farmer/suppliers through its copy written aggregation program.

This news release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of Emission Credits Corporation. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include legislative or regulatory developments, competition, global capital markets activity, changes in prevailing interest rates, currency exchange rates, inflation levels and general economic conditions in geographic areas where Emission Credits Corporation operates.

Contact Information

  • Emission Credits Corporation
    Robert Coulter
    (403) 556-0605