[Bioconversion] Funding Biofuel Projects

Sat Oct 16 11:36:39 EDT 2004

I got this in an email (one of the many lists i
subscribe to) and thought it might be of interest.

It occured to me that substantial cost savings could
be had if the environmental advantages of biofuel
schemes were exploited.

The use of Certified Emission Reductions (CERs) as
below is an example.

I have been looking for further information on this
and would appreciate advice from anyone here with
experience of this.

Regards,

From: CO2e - Press Announcement
[mailto:CO2e at co2e.co.uk] 
Sent: 13 October 2004 15:07
To: CO2e - Press Announcement
Subject: CO2e Press Release - Another Landmark
Transaction to Reduce Green house Gas Emissions

CO2e Combines Kyoto Protocol and European Union
Emissions Trading Provision For Another Landmark
Transaction to Reduce Greenhouse Gas Emissions

 Unique commercial transaction provides three Sugar
Cane Producers in Brazil with funds and a leading
European Company with Emissions Credits 

London, UK and New York, NY, October 11, 2004 -
CO2e.com (a subsidiary of Cantor Fitzgerald, L.P.),
the leading global broker of greenhouse gas (GHG)
credits, announced today their facilitation of the
first publicised legally binding purchase of Clean
Development Mechanism (CDM) Certified Emission
Reductions (CERs) by a European company.  The CERs
have been bought from Brazil for use within the
European Union Emission Trading Scheme (EU ETS). 
CO2e.com worked closely with Brazilian firm Ecoinvest,
a world leader in climate change advisory services, to
facilitate the transaction.  Ecoinvest is developing
the documentation necessary to attain the required
certification for the project under the UN approval
process.

The deal, transacted under the CDM, a market mechanism
of the Kyoto Protocol designed to encourage commercial
investment in sustainable projects that reduce
greenhouse gas emissions in developing countries,
involves collaboration between three Sugarcane
waste-fired electricity generation facilities in
Brazil: Central Energética Rio Pardo LTDA (CERPA),
Termoeletrica Santa Adelia LTDA and Usina Barra Grande
de Lençóis S.A.  A seven-figure volume of CERs from
three projects was bundled together for the purpose of
negotiating one transaction and was purchased by a
leading European company.  The CERs will be generated
from renewable energy, using sugarcane waste residue
as a fuel for electricity cogeneration.  This is the
first public transaction of CERs by a company in the
European Union.

This deal is one of a number that CO2e.com has
brokered under the CDM, most recently a transaction in
which Agrosuper (a large Chilean pork producer) sold
CERs to Canadian and Japanese electricity companies
(TransAlta and TEPCO respectively).  The CER
transactions build on CO2e.com's years of experience
in global greenhouse gas emissions offset markets,
where it has brokered tens of millions of emissions
offsets.

"CO2e.com is dedicated to delivering market-based
solutions to help companies manage climate change risk
and maximize opportunities," said Corinne Boone,
Managing Director, Americas at CO2e.com.  "This
transaction clearly demonstrates the opportunities
that can be achieved via the CDM by bundling together
smaller projects to offer a larger volume of CERs to
buyers.  This in turn enables smaller CDM projects to
make significant contributions to reducing GHG
emissions and at the same time receive economic
benefits. This transaction continues to show the
essential part that emissions trading has to play in
the world's ability to reduce emissions and benefit
both business and the environment."

"CO2e.com is delighted to have brokered another
ground-breaking transaction," said Steve Drummond,
Managing Director of CO2e.com.  "CERs will be an
important compliance tool in the European Emissions
Trading Scheme, and pioneering deals like this pave
the way for the larger volumes that will be needed to
enable European companies to manage their compliance
risk and grow the global market."

"This trade demonstrates how large multi-national
corporations and first class local companies in
countries such as Brazil stand to profit from
emissions trading," said Carlos de Mathias Martins
Jr., Director of Ecoinvest, advisor to the sugar mills
in Brazil. "It also illustrates the potential for
financing biomass to energy projects in rural areas of
developing nations".

About CO2e.com

CO2e.com, a subsidiary of Cantor Fitzgerald, L.P., is
dedicated to delivering market-based solutions to help
companies manage climate change risk and maximise
commercial opportunity.

CO2e.com has offices in London, Toronto, Tokyo and the
USA, together with local representation in many other
countries through agency agreements.  The company 
brokers greenhouse gas emissions allowances and
credits globally, plus many other environmental
commodities and instruments in different jurisdictions
across the world. CO2e.com  has brokered tens of
millions of tonnes greenhouse gas offsets and has
become a globally recognized market leader. 
Additional information on CO2e.com can be found at
www.CO2e.com.

About Ecoinvest

Ecoinvest is an advisory firm based in Brazil
providing a broad range of financial services that
meet the needs of environmentally conscious investors,
helping them manage their money ethically and wisely.

Ecoinvest focuses currently on identifying investments
in cleaner technologies in Brazil, which will reduce
emissions of greenhouse gases and become eligible for
certified emission reduction (CERs) credits under the
Clean Development Mechanism of the Kyoto Protocol.

For more information, please contact CO2e.com on
info at CO2e.com, or call us on

                                    London: +44 20
7894 8333

                                    Toronto: +1 416
350 2177

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