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Largest Greenhouse Gas Transaction to Date

Canadenis Acquisition Ltd and Tamarisk Acquisition Corporation will purchase approximately 23 million Certified Emissions Reductions (CERs) – the two transactions combined are a billion dollar transaction – the largest to date. The CERs are expected to be delivered from the World Bank’s Umbrella Carbon Facility (UCF). The deal is through Natsource LLC, the world’s largest private sector greenhouse gas (GHG) asset manager. Each Natsource entity purchased the maximum amount of CERs expected to be sold from the UCF. The purchases represent 24.5% of the CERs made available to the private sector. The remaining CERs are expected to be purchased by the World Bank’s existing carbon funds. Clean Development Mechanism (CDM) projects authorized by Article 12 of the Kyoto Protocol create CERs. These projects reduce greenhouse gas emissions and create sustainable development benefits for the countries hosting them. Buyers of CERs can use them to comply with requirements to reduce their greenhouse gas emissions. The World Bank announced the creation of the UCF in December of 2005. The UCF will aggregate multiple sources of funding to purchase large volumes of emission reductions from projects on behalf of its own carbon funds, private firms and governments. In this transaction, the CERs are […]

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Hydrogen Power System Unveiled in Maine

WISCASSET, Maine (AP) — A $250,000 demonstration project that produces hydrogen energy to provide backup lighting and warmth at the Chewonki Foundation’s environmental education center was hailed at its unveiling Monday as the first of its kind in the nation. The nonprofit foundation teamed up with the Portland-based Hydrogen Energy Center to develop the system that was touted as an example of the kind of cutting-edge technology that can reduce dependence on fossil fuels and help ease global warming. ‘Hydrogen represents a huge growth industry, and the creation of this partnership will put Maine on the leading edge as this industry expands,’ said Gov. John Baldacci, who signed an executive order to promote the development of hydrogen energy in Maine. The system unveiled at Chewonki uses renewable power — from solar panels atop the center and purchases of ‘green’ electricity — to produce hydrogen from water through a process known as electrolysis. New technology that produces the gas at high pressure eliminates the need for a costly compressor. Developers of the system said it’s the nation’s first publicly accessible direct high-pressure hydrogen energy system as well as the first complete hydrogen energy system in Maine. Because hydrogen is flammable, the […]

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