SOURCE: Global Earth Energy Inc.

December 02, 2010 09:00 ET

Global Earth Energy Inc. and Reflora de Brazil Announce That Projects Are Very Close to Market Readiness

WILMINGTON, NC--(Marketwire - December 2, 2010) - Global Earth Energy, Inc. (OTCBB: GLER), and Reflora de Brazil are in final negotiations with firms worldwide to broker and sell Carbon offsets to end clients.

About the Carbon Offset Market

Carbon offsets are measured in metric tons and may represent six primary categories of greenhouse gases.

There are a number of markets for carbon offsets in the larger compliance market including corporations, governments, or other entities that buy carbon offsets in order to comply with CAPS on the total amount of carbon dioxide they are allowed to emit. In 2006, about $5.5 billion of carbon offsets were purchased in the compliance market, representing about 1.6 billion metric tons of CO2e reductions.

In the voluntary market, individuals, corporations, or governments purchase carbon offsets to mitigate their own greenhouse gas emissions from transportation, electricity use, and other sources. For example, an individual might purchase carbon offsets to compensate for the greenhouse gas emissions caused by personal air travel. Many companies offer carbon offsets as an up-sell during the sales process so that customers can mitigate the emissions related with their product or service purchase (such as offsetting emissions related to a vacation flight, car rental, hotel stay, consumer good, etc.). In 2008, about $705 million of carbon offsets were purchased in the voluntary market, representing about 123.4 million metric tons of CO2e reductions.

Sydney Harland, CEO of Global Earth Energy commented, "We want our investors and the public to know that we are working tirelessly to achieve a cleaner earth and providing real solutions to maximizing our company revenues. We seek to be leaders in this space over the next decade. Our agreement with Reflora is the first step toward this goal." 

Global Earth Energy is vigorously pursuing joint ventures with top independent operators in the green energy solutions space. By securing these partnerships Global Earth Energy strives for maximum returns for its shareholders while deferring some of the costs of the company's initial investment. 

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