CO2 NZ secures new $10 million carbon projectFriday 11 Nov 2011 CO2 Group Limited announced this week that its partner CO2 New Zealand has secured a new $10 million carbon sequestration project in New Zealand for a significant Maori community (Iwi) in the North Island of New Zealand. The project, which will be undertaken in partnership with the Iwi and other local authorities, will bring additional benefits such as carbon based afforestation, erosion control and waterway management."This is a significant project for CO2 Group and further strengthens our New Zealand business," said CO2 Group's CEO Andrew Grant. In addition to securing this major investment project, CO2 New Zealand has secured over $7 million of long term carbon contract sales with major New Zealand Emission Trading Scheme compliance parties. CO2 New Zealand is also involved in mapping of pre-1990 forestry land as part of the deforestation obligations under the New Zealand Emissions Trading Scheme (ETS). CO2 New Zealand is currently involved in the mapping of more than 220,000 hectares which will realise close to 5.7 million NZUs for clients making it the largest land applicant to the New Zealand Government for Pre-1990 forest allocations on behalf of its clients. |
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