VANCOUVER, Feb. 18, 2013 /CNW/ - Crimson Bioenergy Ltd. announces the resignation of Gee Ming Chiang as director to pursue other interests. The Company thanks Mr. Chiang for his service and contributions.
About Crimson Bioenergy Ltd.
Crimson has extensive management expertise in the areas of forest management, forest ecosystem restoration, energy crops and greenhouse gas offsets. Crimson has developed a fibre-supply strategy to plant under-utilized agricultural lands for the expanding biomass energy market that can also integrate carbon credits as those markets emerge. The company will derive revenue from two types of projects. First, Crimson can develop short rotation, high density hybrid poplar plantations, called "Energy Crops", with a 4-year growth cycle. This type of plantation offers a low-cost, long-term supply of wood chips. Second, Crimson can develop longer-term wood fibre/carbon credit plantations that meet the terms of "Afforestation" under forest carbon offset programs. The carbon credit value of such projects in emerging markets can provide a positive revenue stream at an early stage. Crimson has successfully completed its first Afforestation project in northern British Columbia with ERA Carbon Offsets Ltd., a reporting issuer on the TSX Venture exchange.
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Further information on Crimson is available at www.sedar.com.
SOURCE: Crimson Bioenergy Ltd.
Crimson Bioenergy Ltd.
Mr. Garry Renwick, Chief Financial Officer