Transaction Advances Alberta's Carbon Market, Benefits Local Farmers, and
Underscores Superiority of Auction-based Approach for Price Discovery
DIDSBURY, AB, and WORCESTER, MA, Sept. 3 /CNW/ - Emission Credits
Corporation (ECC), an agricultural aggregator of sequestered carbon offsets
produced exclusively from farmland in Alberta, today announced it sold more
than 100,000 tonnes of carbon credits on August 20, 2008 using the World Green
This deal marks the second large-scale carbon-offsets transaction for ECC
this year and its first using an auction. While terms of the deal remain
confidential, ECC acknowledged the World Energy online auction proved a
superior mechanism for price discovery, risk mitigation and liquidity
enhancement over its prior bi-lateral transactions. The auction yielded a
better price per tonne for its more than 900 participating Alberta farmers,
while also engaging - and educating - more potential buyers in the process.
The ECC auction follows another milestone for World Energy in the
province: the first carbon-offsets auction ever conducted in North America -
on behalf of Verdant Energy. With the landmark ECC and Verdant events, World
Energy has established itself as a top independent player in the Alberta
carbon market - with an estimated 10% of all offset transaction volume
conducted to date.
"ECC's sale of 107,037 tonnes of carbon offsets is good news on many
fronts for many players," said Robert Coulter, President and CEO of ECC.
"First, proceeds of the auction provide a significant new revenue stream for
Alberta's hard-working farmers, validating agricultural best practices as a
linchpin in the Alberta carbon market. Second, it offers Alberta's largest
emitters a more cost-effective way to help the environment and comply with
climate regulations, one that delivers immediate shareholder value. And third,
it signals the growing viability and attractiveness of a market-based approach
to carbon reduction here in Alberta.
"To say World Energy played an important role in this event is an
understatement. Currently, there is limited liquidity in the carbon-offsets
market. World Energy's ability to bring potential bidders to the table and
manage an online auction event where participants can understand exactly what
kind of credit is for sale, and at what price, was invaluable to making our
event successful and delivering more dollars to our constituents. ECC is very
happy with its decision to auction its credits and with choosing World Energy
as its auction partner and provider."
Added Phil Adams, President and COO of World Energy, "We are pleased to
be making history with ECC and gratified to see World Energy emerge as both a
front-runner and market maker in Alberta's carbon credit market. In our work
with ECC, we see yet another example of the power of our auction platform to
bring greater liquidity and transparency to markets, creating market lift and
needed confidence to transact."
About Emission Credits Corporation
Emission Credits Corporation (www.eccorp.org) is a privately owned
Corporation operating primarily in the Province of Alberta. It gathers and
quantifies carbon offsets produced through agricultural activity on behalf of
its farmer/suppliers through its copy-written aggregation program.
About World Energy Solutions
World Energy operates leading online exchanges for energy and
environmental commodities. Our proven approach provides market intelligence,
promotes liquidity, and creates price transparency for all market
participants, enabling our customers to transact with confidence and to seek
the best possible price. To date, the company has transacted more than 45
billion kWh of electricity, 1 billion kWh of green power and Renewable Energy
Certificates (RECs) and over 100 billion Dth of natural gas. For more
information, please visit www.worldenergy.com.
This press release contains forward-looking statements that are subject
to risks and uncertainties that could cause actual results to differ from
those indicated in the forward-looking statements. Such risks and
uncertainties include, but are not limited to: our revenue is dependent on
actual future energy purchases pursuant to completed procurements; the demand
for our services is affected by changes in regulated prices or cyclicality or
volatility in competitive market prices for energy; we depend on a small
number of key energy consumers, suppliers and channel partners; there are
factors outside our control that affect transaction volume in the electricity
market; and there are other factors identified in our Annual Report on Form
10-K and subsequent reports filed with the Securities and Exchange Commission.
For further information:
For further information: Robert Coulter, President and CEO, Emission
Credits Corporation, (403) 556-0605, firstname.lastname@example.org; Dan Mees, World
Energy Media Relations, (617) 201-9131, email@example.com