BTAAB Posts 15 Million Carbon Credits for Sale on the World Green Exchange, 50 Million More in Development
GOIAS, Brazil and WORCESTER, MA, May 18 /CNW/ - World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE), a leader in the global carbon market, today announced a two-year exclusive agreement with Bolsa de Titulos e Ativos Ambientais do Brasil (BTAAB), a company creating new environmental markets in Brazil, to sell millions of carbon credits on the World Green Exchange(R). The credits, generated from the preservation and restoration of Brazilian forests, are certified by the Brasil Mata Viva standard, registered with Markit Environmental Registry, and immediately available for purchase on the World Green Exchange.
The partnership marks a major win for World Energy in the voluntary carbon market and growing momentum for the World Green Exchange, one of the largest primary carbon marketplaces in the world. Initially, BTAAB has posted 15 million credits to the system with plans to sell as many as 50 million more over it from projects currently in development.
The BTAAB engagement also underscores ongoing synergies between World Energy and Markit Environmental Registry. The firms established a partnership in 2009 to create closed-loop systems that streamline the tracking and trading of environmental commodities, a vision coming to fruition for BTAAB.
"We have chosen to work with World Energy because of its leadership in the global carbon market, its large pool of quality buyers and its relationships with the industry's top players, including Markit, with whom we have also teamed on this major environmental market initiative for Brazil," said Maria Tereza Umbelino de Souza, Executive Director of BTAAB. "With the World Green Exchange, we know we are getting a premier transaction network with the global reach and focus on quality to best showcase and sell our credits, keys to advancing our mission of protecting Brazilian forests while improving economic conditions for rural communities."
Added Kenneth Ivanic, Vice President of Environmental Markets at World Energy, "Brazil is fast becoming an epicenter of environmental commitment and leadership, so having the opportunity to play a strategic role in the execution of an emerging environmental commodities market there is tremendous. We feel confident that by working closely with BTAAB and Markit, we can not only establish a vital market that benefits projects in the states of Mato Grosso, Bahia, and Goias, but one that also serves as a model for future markets in Brazil and around the world."
The World Green Exchange(R) is an open, information-rich marketplace that enables buyers and sellers of carbon commodities to transact with confidence. Working with leading standards, registries, consultants, project developers and banks, the World Green Exchange streamlines the procurement process while delivering transparency, quality, choice and value. More than 200 million green commodities, spanning CERs, VERs, RECs, Alberta offsets and RGGI allowances, have been transacted on the World Green Exchange, making it one of the largest primary carbon marketplaces in the world.
Registered users of the World Green Exchange can log on at https://green.wesplatform.com/webportal/Postings.aspx to view the new BTAAB project credits and documentation. On the Postings tab, simply enter "BTAAB" into the Customer field. Parties interested in becoming a member of the World Green Exchange can register here: https://green.wesplatform.com/WebPortal/public/supplierregistration.aspx
Bolsa de Titulos e Ativos Ambientais do Brasil (BTAAB) is a company that sells environmental credits in accordance with programs supported by the states of Goias, Mato Grosso and Bahia. These credits are generated by projects that promote biodiversity protection and carbon reduction, helping farmers practice sustainable land management techniques. BTAAB utilizes the environmental standard Brasil Mata Viva (Brazil Living Forest), which encompasses REDD, biodiversity and biodiesel projects, serving as a model for a future Brazilian compliance market. Revenues generated from the sale of environmental credits by BTAAB are directed back to program participants.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE) is a leader in the growing global carbon market, where its World Green Exchange(R) supports the ground-breaking Regional Greenhouse Gas Initiative's (RGGI) cap-and-trade program for CO(2) emissions. The Company is also a front-runner in energy management services, applying an award-winning combination of people, process and technology to help clients manage energy as a strategic asset. To date, the Company has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its Government, Commercial & Industrial, and Utility customers, creating more than $1 billion in value for them. 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 the following: our revenue and backlog are 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; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.
SOURCE WORLD ENERGY SOLUTIONS, INC.
For further information: For further information: Dan Mees, World Energy Solutions, Inc., (508) 459-8156, email@example.com; Erika Moran, The Investor Relations Group, (212) 825-3210, firstname.lastname@example.org