Frontier Carbon - Press Release
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Frontier Carbon is pleased to announce a $2.6 million joint venture to establish two CDM projects in Uzbekistan

Frontier Carbon is pleased to announce a $2.6 million joint venture to establish two CDM projects in Uzbekistan

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Frontier Carbon - Press Release Document Transcript

  • 1. The Hub, 34b York Way London, N1 9AB United Kingdom www.frontier-carbon.net PRESS RELEASE: FOR IMMEDIATE RELEASE Frontier Carbon announces venture with Albemarle Kapital and Blue Sphere Corp to invest $2.6 million in two carbon credit projects in Uzbekistan LONDON, United Kingdom – 7th October 2010 – Frontier Carbon, a green asset developer, is pleased to announce that it has agreed a joint venture with Blue Sphere Corporation to build two low-carbon projects in Uzbekistan. ”In partnership with our accomplished local project developer, Albemarle Kapital, we will build a world class landfill gas destruction and compositing project in the city of Samarkand. The goal of the projects are to reduce the generation of methane, a harmful greenhouse gas that is more than 20 times more potent than carbon dioxide. Many landfill sites in developing economies are faced with limited government resources. Consequently, many sites can harm the local environment and be dangerous places for the people that make their livelihoods working on them. By using the financial muscle of carbon markets we want to produce tangible benefits for the community, including low-cost compost and long-term job opportunities” says Sebastian Foot, Managing Director of Frontier Carbon. The development of low-carbon projects requires unique financial structuring, that would not be possible without the support of the global carbon market, which is underpinned by the United Nation’s Kyoto Protocol carbon project framework, known as the “Clean Development Mechanism”. The carbon markets allow essential environmental investment in developing countries to earn carbon credits for the emissions reductions they achieve. Demand for these carbon credits is driven by the world’s largest emissions trading scheme, EU Emissions Trading Scheme, which requires companies to reduce their carbon dioxide emissions to agreed pre- determined levels. Both projects are expected to commence operation in Q2 of 2011 and are part of our effort to improve waste management practices in developing economies. The total investment is estimated at $2.6 Million USD. For further information please contact Sebastian Foot on +44 (0) 20 7193 7381 or Sebastian@frontier- carbon.net Frontier Carbon: building green businesses Frontier is a green asset development company. We work with investors, developers and entrepreneurs, such as Albemarle Kapital, to build world class, low carbon, green companies. We have a global outlook and a keen focus on emerging markets. Frontier typically positions itself as a committed shareholder and long-term partner to our growing portfolio of businesses. Our business is driven by the value available through connecting to the global carbon market; and local renewable energy markets. For further information please visit the Company's website www.frontier-carbon.net Company registered in England. Registered name: Frontier Carbon, Ltd. Registration number: 6918832