ERA Announces Delivery of 100,000 tonnes of VERS to HEAG Südhessische Energie AG - Klimaschutzprojekte - CO2-Handel.de - Das Info-Portal zum Emissionshandel und Klimaschutz

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ERA Announces Delivery of 100,000 tonnes of VERS to HEAG Südhessische Energie AG (17.12.2009)

ERA Carbon Offsets Ltd. (TSXÂV:ESR), through its wholly owned subsidiary, ERA Ecosystem Restoration Associates ("ERA"), is pleased to announce its third delivery of 100,000 tonnes of Verified Emission Reductions ( the "VERs"), and receipt of an $800,000 payment as specified under the Verified Emissions Reductions Sales Agreement (the "VERSA"), with the German energy company HEAG SÃ¼dhessische Energie AG ("HSE"), as previously announced on June 10th, 2009.

The payment is the third of five bi-monthly payments specified under the VERSA in which ERA is required to deliver 300,000 tonnes of VERs in the third and fourth quarter of 2009, and 200,000 tonnes of VERs in the first quarter of 2010.

The VERs sold to HSE are validated and verified to ISO 14064-2 and pending validation to the Climate, Community and Biodiversity Alliance ("CCBA") standard. ISO 14064-2 is the proposed requirement for verification under the Canadian Federal Offset System for Greenhouse Gases as published on June 10, 2009. CCBA is the leading voluntary international standard for projects that simultaneously minimize climate change, support sustainable development, and conserve biodiversity.

The VERs sold to HSE are generated through ERA's Community Ecosystem Restoration Program ("CERP") which has been operational in the Lower Fraser Valley of British Columbia since September 2005. CERP is a large scale urban forest restoration program that began in the District of Maple Ridge in 2006, which now includes projects in the District of Mission, the City and Township of Langley, and within Metro Vancouver. The CERP program is supported by the sale of VERs generated through ERA's ecosystem restoration and reforestation endeavors in degraded riparian areas. These VERs are registered on the Markit Environmental Registry (formerly TZ1), an international carbon offsets registry which supports transactions in high quality voluntary carbon offsets through a credible, externally audited retirement facility. VERs are utilized by ethical organizations looking to reduce their carbon footprint by increasing their sustainability endeavors.

Dr. Robert Falls, CEO of ERA commented "We are pleased to be delivering this third tranche of offsets to our clients at HSE/Entega. We believe they stand at the forefront of environmental stewardship as they have made a conscious effort to support the critical role forests play in climate change. We look forward to working closely with them through the remainder of our delivery schedule and beyond."

Source: ERA

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