Global Green Solutions Inc. (OTC BB:GGRN.OB) and C&C Green Technologies PTY LTD., a South African private company, have signed an agreement to form a majority joint venture business in South Africa. The new company, Global Green Solutions PTY LTD., will manufacture, market and sell Global Green Solutions’ renewable energy products, as well as providing technical support for projects in South Africa and sub-Sahara countries.
“Vertigro, Global Green Solutions’ algae-to-biofuel feedstock technology, is an excellent energy source for an arid country as it requires minimal water and no agricultural acreage, thus leaving desirable farmland for food crops,” said Doug Frater, president and CEO of Global Green Solutions. “Its high production capabilities could meet much of their diesel fuel demands. South Africa also has a strong commitment, at both government and business levels, to reduce greenhouse gases, the primary cause of global warming. Vertigro’s algae absorb large amounts of carbon dioxide, a greenhouse gas, from the atmosphere and industrial pollutants.”
Global Green Solutions’ Global Greensteam, which converts biomass (wood and crop waste) to low-cost steam, will also be greatly beneficial to South Africa. “Global Greensteam economically generates steam from biomass, which is abundant in the country. We will build biomass combustion units at customer sites throughout South Africa where the steam can be utilized to generate electrical power or provide industrial steam,” Frater said.
South Africa is aggressively tackling the country’s energy issues and has set a target for 10,000GWh (gigawatt hours) of energy to be produced from renewable energy sources by 2013. South Africa is a Kyoto non-Annex 1 country and the carbon dioxide emissions reduction programs can generate carbon credits if implemented under the United Nations Clean Development Mechanism. These carbon credits can be traded to Kyoto Annex 1 countries to offset their emission reduction targets.
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