Sofame Carbon Division to Support Equipment Sales While Aggregating
MONTREAL, Feb. 18 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW)
has engaged four world class partners to assist with developing its Carbon
Credit division: Sofame Carbon. Sofame Carbon will pursue the certification of
investment grade carbon credits to help end-users maximize the benefits of
their financial investments in Sofame's energy-saving equipment.
Torys LLP, PricewaterhouseCoopers LLP, ClimateCheck, and the Eco-Conseil
Chair of UQAC will each provide specific expertise to the project, and will
collectively work together to assist in establishing Sofame Carbon.
John Gocek, President and Chief Executive Officer of Sofame stated, "We
are encouraged by the renewed emphasis on energy efficiency as a way to
conserve finite fuel resources and to protect the environment by reducing
greenhouse gas emissions. The experts joining with Sofame today understand the
importance of encouraging carbon and energy reductions - and will provide
Sofame with expertise on the mechanisms we can use to drive and support these
behavioral changes. They will be valued partners as we move forward with this
Sofame has been successfully reducing CO2 and NOX emissions for over
twenty years through individual projects typically providing 10,000 tons of
carbon savings per project. By making the normal exercise of certifying carbon
credits a repetitive process tied to Sofame's technology, the complications
and expense will be reduced through economies of scale. This new business will
complement Sofame's core engineering and equipment manufacturing activities,
and help the company improve customers' return on investment.
Sofame Carbon will operate on a principle of recurring revenue by
cooperating with end-users to document and aggregate certified carbon credits
over a number of years, and then sharing any gains with customers. Over time
Sofame will bring the carbon credits to market as sales increase and the pool
of funds grows.
Sofame will work with our industry leading partners, each of whom is
considered a highly qualified climate change advisor, to develop the Sofame
Carbon business plan. The result will take into account actual opportunities
to monetize NOX reductions and carbon offset credits, and to build on the
expected sweeping changes in climate change legislation in the United States
As Tom Baumann, CEO of ClimateCHECK says, "Sofame realizes that with the
right people, knowledge, and tools in place, carbon saved is money earned.
Their clients stand to benefit directly through the leadership and innovation
Sofame is demonstrating by bringing this top-notch team together to assist
their new Carbon Credit division".
SOFAME Technologies Inc. custom engineers and manufactures unique,
high-efficiency direct-contact heat recovery and hot water heating systems.
Sofame's products extract up to 99% of heat from flue gases depending on the
application, and also from wastewater, and return the energy in the form of
high temperature hot water or pre-heated make-up air. In addition to
economically recovering heat from waste energy, Sofame's products also help
customers to significantly reduce greenhouse gas and NOX emissions. Using
world leading, patented green technology, Sofame serves building owners,
institutional, industrial and commercial markets through a network of
dedicated engineering representatives.
With over 300 systems installed to date, Sofame has helped cut GHG
emissions by 150,000 tons a year. Over the past 20 years, Sofame technology
has enabled industry to cut its emissions by 1.8 million tons - the equivalent
of taking 300,000 cars off the road for one year.
TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
For further information:
For further information: Kelly Hamblin, Sofame Investor Relations, (514)
523-6545 ext. 630, email@example.com