VANCOUVER, May 17 /CNW/ - Carbon Friendly Solutions Inc. (TSX Venture Exchange: CFQ) ("CFS" or the "Company") is pleased to announce it has successfully concluded a Sales Agreement with Toronto based company Carbonzero, for the delivery of the first allotment of its Emission Reductions Units (ERU's) from its Ontario, Canada Reforestation Project, as previously announced on April 22, 2010.
The transaction which concluded with the execution of an Emission Reduction Sales Agreement ("ERSA"), will deliver 10,000 tonnes of ERU's to Carbonzero in the second quarter of 2010. The ERU's sold to Carbonzero are being validated and verified to the Climate Community and Biodiversity Alliance (CCBA) standards. CCBA is the leading voluntary international standard for projects that simultaneously minimize climate change, support sustainable development, and conserve biodiversity.
Carbonzero COO Dan Fraleigh commented, "We are excited to be involved in the development of Canadian reforestation projects with Carbon Friendly. As we diversify our project base, Carbonzero looks forward to offering our clients Carbon Friendly's high qualify emission offsets amongst our portfolio of Canadian based projects."
The Climate, Community and Biodiversity Alliance (CCBA) is a partnership between leading companies, non-governmental organizations (NGOs) and research institutions seeking to promote integrated solutions to land management around the world. With this goal in mind, the CCBA has developed voluntary standards to help design and identify land management projects that simultaneously minimize climate change, support sustainable development and conserve biodiversity. Website address http://www.climate-standards.org/index.html
Carbonzero was founded in 2006 and has rapidly risen to become a leader in the design and implementation of corporate carbon reduction strategies and solutions in the emerging low carbon economy. A top performer in the 2009 David Suzuki Foundation and Pembina Institute report on Carbon Offsetting, Carbonzero has led the way in setting the leading industry standards for measurable, verified emissions reduction offsets in Canada. Carbonzero helps transform individuals, governments and organizations by aiding them in assessing, reporting, and reducing their carbon footprint. Website address www.carbonzero.ca
Independent Director Resignation
CFS regretfully announces the resignation of Mr. Dave Driedger from the Company's Board due to medical reasons. CFS would like to thank Mr. Driedger for his ongoing contribution to the Company, as an original Founder and Independent Board Member. CFS is actively pursuing a suitable candidate to replace Mr. Driedger's vacancy on the Board.
Carbon Friendly Solutions Inc.
Carbon Friendly Solutions Inc. (CFS) is a project proponent that provides solutions for companies, organizations and individuals looking to reduce or offset their global warming impact caused by greenhouse gas emissions while including the generation of carbon credits for sale in the global Voluntary and Compliance markets. Through its wholly owned subsidiaries, Global CO2 Reduction Inc. and CO2 Reduction Poland Sp. z o.o., CFS is focusing on removing and offsetting carbon dioxide emissions from the completion of reforestation, biomass energy and renewable energy technology projects that are independently validated and verified to globally recognized standards and methodologies. Website address www.carbonfriendly.com
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
Certain statements included in this News Release contain forward-looking statements, including disclosure concerning possible or assumed future results of operations of the Company. Forward-looking statements typically are preceded by, followed by or include the words - "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions, and the Company's results could differ materially from those anticipated in these forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE MicroCoal Technologies Inc.
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