Business
DNV reinstated and trading up
DNV reinstated and trading up.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n RNS Number : 3441N Camco International Ltd 16 February 2009 \n \n16 February 2009\n\n\nCamco International Limited (the 'Company')\n\nDNV reinstated and trading update\n\nCamco International Limited (Camco), a leading climate change business in the growing carbon and sustainable development markets, is pleased to provide an update on the suspension of Det Norske Veritas (DNV) from undertaking certain activities pursuant to its role as a designated operational entity (DOE) under the Clean Development Mechanism (CDM) and a brief trading update.\n\nOn 2 December 2008 Camco noted the temporary suspension of DNV from undertaking certain activities pursuant to its role as a DOE. As per the recent decision by the United Nations (UN) CDM Executive Board (EB), DNV is now able to carry out those activities for its clients, including Camco. Consistent with the statement made in the 2 December release, the reinstatement occurred at the forty-fifth meeting of the CDM Executive Board last week and the suspension did not have material impact on Camco's operations. \n\nCamco's business has continued to perform in line with management's expectations and the Company anticipates achieving a pre-tax profit for the year ended 31 December 2008. \n\nOperationally it has been a strong start to 2009 with the Company having been notified of the registration of an additional 4.2m tonnes (PDD volumes) which occurred late in 2008 plus a further 3.2 m tonnes (PDD volumes) of registrations since 31 December 2008. These include registrations recorded in the minutes of the forty-fifth meeting of the UN EB. Project registrations included the Fuxin Coal Mine and Coal Bed Methane project, which uses a methodology developed by Camco and is the first of its type in the market. \n\nIn China the Consulting business has achieved a substantial contract win and will undertake a project for the UK government to assess post-2012 greenhouse gas mitigation options and identify the medium term carbon reduction potential in China's iron and steel industry. \n\nCamco will release it preliminary results for the year to 31 December 2008 on 5 March 2009. \n\nEnquiries:\n\n\n\n\nThe Camco Group\n\n\n+44 (0)20 7121 6100\n\n\n\n\n\n\n\n\n\n\n\n\nJeff Kenna, Chief Executive Officer\n\n\n\n\n\n\n\nScott McGregor, Chief Financial Of...