15th Dec 2009 07:00
15 December 2009
Camco International Limited (the 'Company')
Carbon structured transaction
Camco, a global emissions reduction company, is pleased to announce the completion of another successful carbon commercialisation transaction.
The transaction involved the sale of the Company's rights comprising in specie tonnes of 2.1mt from a portfolio of projects for cash proceeds of €9.8m (net cash €8.4m). All cash proceeds are unconditional and upfront.
Yariv Cohen, Camco Chief Carbon Officer, commented:
"This transaction demonstrates the market demand for Camco's projects and our ability to creatively commercialise our portfolio using structured transactions. This ability allows us to monetise our portfolio at the optimal time when the right opportunities emerge. We will continue with our disciplined approach to commercialising our carbon portfolio and ensure that maximum value is delivered to our clients and shareholders."
Enquiries:
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Camco |
+44 (0)20 7121 6100 |
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Scott McGregor, Chief Executive Officer |
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KBC Peel Hunt Ltd (Nominated Adviser and Broker) |
+44 (0)20 7418 8900 |
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Jonathan Marren |
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David Anderson |
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Kreab Gavin Anderson |
+44 (0)20 7074 1800 |
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Ken Cronin |
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Michaela Wood |
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Alex Gowlland |
Notes to editors:
About Camco
Camco is a global emissions reduction company. We offer a full range of carbon-related services to public and private organisations worldwide. The Group has a 20-year track record and manages one of the world's largest carbon credit portfolios.
The Group consists of three business segments:
The Carbon credits business unit is a leading project developer with one of the world's largest carbon credit portfolios. We partner with companies to identify, develop and manage projects that reduce greenhouse gas emissions, and then arrange the sale and delivery of carbon credits to international compliance buyers and into the voluntary market.
The Advisory practice combines specialist technical, strategic and financial expertise and experience accrued over two decades to deliver a sustainable low carbon society. We are positioned to work with our clients to turn climate change liabilities into economic, social and environmental assets.
Camco Investments works with project and technology developers, early stage businesses and investor groups to commercialise climate change mitigation technologies, projects and services.
Related Shares:
RED.L