Montreal, Canada, June 15, 2010 – Biothermica today announced the registration with the Climate Action Reserve of the first carbon credits from its pioneering ventilation air methane (VAM) project at Jim Walter Resources’ No. 4 Mine in Alabama (USA). This is the first coal mine methane activity to be registered with this recognized offsets program.
Featuring Biothermica’s VAMOX® system, the demonstration project has generated 25,931 Climate Reserve Tonnes (CRTs) during its first year of operation, covering March 2009 to March 2010. Following this initial ramp-up period, production is expected to reach approximately 35,000 carbon offset credits each year.
“The registration of these first credits from a VAM oxidation project in America is the last step in proving the viability of our innovative coal mine methane abatement solution” said Guy Drouin, President of Biothermica. “Unlike any other industry player, Biothermica’s integrated team delivers on all aspects of VAM projects, from the feasibility study to the technology and the monetization of the carbon credits”.
Biothermica is proud to have registered these credits under one of the most stringent programs in the United States. “The rigorous and regulatory-quality protocols of the Climate Action Reserve ensure that greenhouse gas emissions reductions are accounted for in a conservative, accurate and comprehensive methodology,” stated Gary Gero, President of the Climate Action Reserve. “We applaud Biothermica’s leadership for taking voluntary early-action to address climate change and for being a pioneer in the coal mine industry.”
Building on this achievement, Biothermica plans to develop similar ventures with other mines and create value from their VAM. Biothermica seeks to get involved as a risk sharing partner and sponsor of VAM oxidation projects, thereby allowing mines to focus on their primary activity.
Founded in 1987, Biothermica is a leader in the development, financing, building and operation of projects which capture and destroy methane emitted by landfill sites and underground coal mines. As a fully integrated project developer, the company also monetizes the carbon offset credits generated by its projects on the international markets. Biothermica has completed carbon projects in North and Central America.
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