Carbon2Green - Agreement With Achrisia Ameriques Inc. for Soliciting the Financing of the Jatropha Project
06 July 2010 - 4:44AM
Marketwired
Carbon2Green Corporation (the "Corporation" or "Carbon2Green") (TSX
VENTURE: CGN) is proud to announce the conclusion of an agreement
with Achrisia Ameriques Inc. to structure the financing of the
entire jatropha project in Democratic Republic of the Congo ("DRC")
through World Sports Alliance ("WSA") which has already expressed
its interest in the project and indicated guidelines for its
financial involvement. The proposed financing, subject to customary
conditions including due diligence, would proceed in accordance
with the public-private partnerships format to intervene between
the DRC and WSA following the WSA project financing model.
The total required investment for this project, which has been
presented to the Corporation's shareholders over the past year, is
valued at CDN$22,000,000. Funding is linked to the production of
jatropha oil from the Corporation's current project in the DRC. The
Corporation's management will act as lead partner in the
public-private partnership for managing daily operations. In
addition, following the acceptance of a production program by the
DRC, an additional protocol must be signed between the
public-private partnership and the DRC, as well as a long term
sovereign guaranty to be issued by the DRC to the public-private
partnership in order to guaranty the purchase by the DRC of the
produced biodiesel at a pre-negotiated price per liter between the
parties, including an indexing formula. The sovereign guaranty will
be used by the public-private partnership to fund the project.
As the project operator, Carbon2Green will receive twenty-five
percent (25 %) of net profits from the production of jatropha oil.
Carbon2Green will also retain full ownership of carbon credits to
be generated by the project. In the event of a successful funding
sought by Achrisia Ameriques Inc., the latter will receive 5% of
the total funding.
About Carbon2Green (www.carbon2green.ca)
Carbon2Green Corporation is a carbon project developer dedicated
to the international effort to reduce greenhouse gases. Its main
business activities are under the Clean Development Mechanism
(CDM), an arrangement under the Kyoto Protocol monitored by the
United Nations Framework Convention on Climate Change (UNFCCC). The
first business initiative of Carbon2Green is the implementation of
the plantation of 14,000 ha of jatropha and the production of
biofuel from such jatropha plantations as replacement for fossil
derived diesel.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Carbon2Green Corporation Pierre-Hubert Seguin
Secretary 450-681-7744 info@carbon2green.ca
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