VANCOUVER, Jan. 27, 2012 /CNW/ - Crimson Bioenergy Ltd. (TSXV: CSN)
through its wholly owned subsidiary CSQ Environmental Technologies
Ltd., is pleased to announce the sale and delivery of 129,545 Verified
Emission Reductions ("VERs") to ERA Carbon Offsets Ltd. (TSX‐V: ESR).
The VERs, defined as one tonne of CO2 equivalent emissions reductions, resulted from the successful
completion of Crimson's first afforestation project. The project was
independently validated and verified as ISO 14064-2 compliant.
The project is located near Fort St. John, BC and involved the
afforestation of over 200 hectares of under-utilized land with a
combination of white spruce and hybrid poplar. CSQ and ERA have
amended the amount of VERs to be delivered under their agreement to the
129,545 VERs being transferred, with CSQ retaining full rights to the
additional VER's that will be resulting from the project. In addition
to the business reasons for the project, this undertaking will also
enhance watershed protection in the area and provide increased habitat
for native species of birds and animals.
William W. Carr, President and CEO of Crimson stated, "We are excited to
complete the validation on the Flatrock project and the transfer of
VERs to ERA. We view the Flatrock project as a critical step to
bringing this under-utilized land back to working forest. The Flatrock
lands are a great initial acquisition for the Company."
Duncan Manson, CEO of ERA states, "We are pleased to see this important
pilot carbon project achieve this milestone and deliver its first
tonnes [or 'VERs.'] We'd like to congratulate Crimson for their
diligent work in envisioning the project and bringing it to life. The
Flatrock project demonstrates the efficacy of using carbon finance as a
mechanism to help address the forest restoration needs of British
ERA Carbon Offsets Ltd. - A pioneer in forest restoration and conservation carbon offset projects,
ERA has delivered over two million tonnes of carbon offsets to the
voluntary market. ERA's clients and product users include Air Canada,
Catalyst Paper, Rolling Stone Magazine, Entega, Forest Carbon Group,
and Shell Canada. ERA's carbon offset products are validated and
verified to ISO-14064 and VCS standards.
Crimson Bioenergy Ltd.- has extensive management expertise in the areas of forest management,
forest ecosystem restoration, energy crops and greenhouse gas offsets
(carbon credits). Crimson is pursuing the development of longer-term
wood fibre/carbon credit plantations that meet the terms of
"Afforestation" under forest carbon offset programs. It also is
developing reforestation projects on under-utilized agricultural lands
for the expanding biomass energy market that involve short rotation,
high density hybrid poplar plantations, called "Energy Crops", with a
3-to-5 year growth cycle.
Additional information on Crimson Bioenergy can be found at www.sedar.com and on the corporate website at www.crimsonbioenergy.com or by contacting firstname.lastname@example.org
William W. Carr, President
SOURCE Crimson Bioenergy Ltd.
For further information:
Peter Fentiman, Investor Relations
Crimson Bioenergy Ltd.
Suite 202 - 5752 176th Street
Surrey, BC V3S 4C8
Phone: (604) 210-0899, or
Toll free: 1 (855) 225-4844