Business
AGM Trading Update
AGM Trading Update.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n Camco International Ltd\n02 May 2008\n\n\n Camco International Limited\n\n AGM Trading update\n\nCamco International Limited ('Camco'), a leading climate change business in the\ngrowing carbon and sustainable development markets, will provide the following\ntrading update at its AGM later today.\n\nHIGHLIGHTS\n\n •Contracted carbon portfolio stable at 150.3m tonnes\n •Camco voted 'Best Project Developer 2008'\n •44.1m tonnes expected to be delivered from registered projects (+46%\n since 31 Dec 07)\n •An additional 29.1m tonnes submitted for registration, but not yet\n registered (+151%)\n •Over 50% of the portfolio validated (+40%), operational (+74%) and under\n ERPA (+8%)\n •Continued growth of the JI portfolio, now totaling 36.3m tonnes\n •Continued growth in consultancy with a high profile Local Authority\n contract win\n\n\nJeff Kenna, Camco Chief Executive, said:\n\n'Our focus so far this year has been on the registration of the portfolio. Of\nour CDM portfolio, 40% is now registered and a further 28% submitted for\nregistration. We anticipate that our JI projects will make similar progress this\nyear, and look forward to commercialising the JI portfolio at similar margins to\nthe CDM portfolio.\n\nWe remain confident that the Group will generate a profit from carbon sales this\nyear, and meet our overall 127m-tonne delivery target during the first Phase of\nthe Kyoto commitment period'.\n\n\nThe carbon credit (emissions reductions) business\n\nCamco is a leading carbon asset developer with one of the world's largest carbon\ncredit portfolios. Camco works closely with companies to identify and develop\nprojects that reduce greenhouse gas emissions and then arrange for the sale and\ndelivery of carbon credits to international compliance buyers and into the\nvoluntary market.\n\nHighlighting Camco's expertise in tackling climate change with its local\npresence and global reach the company was voted 'Best Project Developer 2008' by\nthe most active participants in the global carbon market surveyed by Point\nCarbon.\n\nGrowth in the contracted portfolio includes new project wins of 3.7m and a\nconservative downward adjustment. Over time, as verification reports provide\ngreater certainly around carbon credit production, we expect the portfolio to\nbecome increasingly de-risked. The reported contracted portfol...