Completion of Purchases
EcoSecurities Group plc
25 February 2008
ECOSECURITIES GROUP PLC
COMPLETION OF EMISSION REDUCTION PURCHASES WITH CREDIT SUISSE
Dublin, Ireland - EcoSecurities Group plc ("EcoSecurities"), a leading company
in the business of sourcing, developing and trading carbon credits, and Credit
Suisse, one of the world's leading banks, are pleased to announce the signature
of four emission reduction purchase agreements with a large operator of wind
power facilities in China, for the development and purchase of 1.6 million Clean
Development Mechanism ("CDM") Certified Emission Reductions ("CERs") through to
2012. These are the first transactions under the previously announced €1
billion carbon purchase facility agreed between EcoSecurities and Credit Suisse
for the origination of emission reduction projects on a worldwide basis.
Following the completion of a structured sale of over 5 million CERs, announced
in December 2007, the execution of these emission reduction purchase agreements
is the latest example of the developing strategic relationship between
EcoSecurities and Credit Suisse established in mid 2007.
Bruce Usher, CEO of EcoSecurities, commented "We are excited about this expanded
collaboration with Credit Suisse. We look forward to co-originating further
transactions into this new purchasing facility in 2008".
As previously stated the preliminary announcement of EcoSecurities results for
the year ended 31 December 2007 will be made on 13 March 2008.
- Ends -
Enquiries:
Citigate Dewe Rogerson 020 7638 9571
Kevin Smith / Ged Brumby
Editor's Notes:
About EcoSecurities:
EcoSecurities is one of the world's leading companies in the business of
sourcing, developing and trading carbon credits. EcoSecurities structures and
guides greenhouse gas emission reduction projects through the Kyoto Protocol,
working with both project developers and buyers of carbon credits.
EcoSecurities works with companies in developing and industrialising countries
to create carbon credits from projects that reduce emissions of greenhouse
gases. EcoSecurities has experience with projects in the areas of renewable
energy, agriculture and urban waste management, industrial efficiency, and
forestry. With a network of offices and representatives in over 25 countries on
five continents, EcoSecurities has amassed one of the industry's largest and
most diversified portfolios of carbon projects.
EcoSecurities also works with companies in the developed world to assist them in
meeting their greenhouse gas emission compliance targets. Utilising its highly
diversified carbon credit portfolio, EcoSecurities is able to structure carbon
credit transactions to fit compliance and voluntary buyers' needs, and has
executed transactions with both private and public sector buyers in Europe,
North America and Japan.
Working at the forefront of carbon market development, EcoSecurities has been
involved in the development of many of the global carbon market's most important
milestones, including developing the world's first CDM project to be registered
under the Kyoto Protocol. EcoSecurities Global Consulting Services has been at
the forefront of all significant policy and scientific developments in this
field. EcoSecurities has been voted 'Best Advisory Firm - Kyoto Project
Credits' over the last seven years by reader surveys conducted by Environmental
Finance magazine.
EcoSecurities Group plc is listed on the London Stock Exchange AIM (ticker ECO).
Additional information is available at www.ecosecurities.com.
Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with
investment banking, private banking and asset management services worldwide.
Credit Suisse offers advisory services, comprehensive solutions and innovative
products to companies, institutional clients and high-net-worth private clients
globally, as well as retail clients in Switzerland. Credit Suisse is active in
over 50 countries and employs approximately 47,000 people. Credit Suisse's
parent company, Credit Suisse Group, is a leading global financial services
company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN)
are listed in Switzerland and, in the form of American Depositary Shares (CS),
in New York. Further information about Credit Suisse can be found at
www.credit-suisse.com.
Investment Banking
In its Investment Banking business, Credit Suisse offers securities products and
financial advisory services to users and suppliers of capital around the world.
Operating in 57 locations across 26 countries, Credit Suisse is active across
the full spectrum of financial services products including debt and equity
underwriting, sales and trading, mergers and acquisitions, investment research,
and correspondent and prime brokerage services.
This information is provided by RNS
The company news service from the London Stock Exchange
END
This information is provided by RNS
The company news service from the London Stock Exchange