C-Lock Technology Canada Inc. (also known as Carbon Credit Corp), part of Denver-based C-Lock Technology Inc. and Evergreen Energy Inc. (NYSE Arca: EEE), has extended its relationship with Viterra Inc., Canada’s largest agri-business, under a new contract for the creation of agriculture-based carbon offsets that will be sold under the Alberta Carbon Offset Protocol.
C-Lock Technology Canada Inc. measures and generates carbon offsets using its proprietary software developed in concert with Canada’s National Research Council and the GreenCert™ carbon information management solution developed by C-Lock Technology Inc. with IBM and systems integrator, Enterprise Information Management Inc.
“This contract marks our expansion in the agricultural marketplace as we expect to increase our number of aggregated acres by 400 per cent this year,” said Shawn Burns, CEO of C-Lock Technology Canada Inc. “Alberta’s carbon market is the only operating, government regulated carbon offset program in North America, and as such, is the best example of what can be accomplished across Canada and the United States.”
Under this scheme, large greenhouse gas emitters are either taxed at C$15.00 per tonne for qualifying greenhouse gas (GHG) pollution or allowed to offset the tax by purchasing carbon offsets. Proceeds from the sale of offsets go to people such as farmers, who follow practices that either reduce GHG emissions or increase natural absorbtion of GHGs from the atmosphere.
George Prosk, senior vice president of financial products for Viterra, said, “The web-based C-Lock process allows for the rapid, accurate and low cost quantification of carbon offsets. This contributes to the exceptional service and maximum value provided to our customers. We are pleased to be able to reward customers for their environmentally sustainable farming practices and their contribution to a reduction in GHG emissions.”
Recently C-Lock Technology Canada achieved the one-million acre milestone for data processed through the C-Lock Technology Canada Inc. solution for the measurement of carbon dioxide emissions, absorption and the creation of verifiable carbon emission reduction credits or offsets. Integration of C-Lock Technology Canada Inc.’s solution with the GreenCert™ comprehensive suite of IBM tools will dramatically increase C-Lock Technology Canada’s capacity to process acreage and generate carbon credits.
“The world is moving toward carbon constraint by putting a price on carbon through cap-and-trade systems, taxes, or other regulated and voluntary methods,” added Burns. “As long as there is a price for carbon, there are benefits associated with the proper measurement of carbon emissions and credits. C-Lock profits from the need to manage carbon risk through precise and accurate measurement that delivers maximum value to the agriculture, energy and other sectors that must be aware of, and manage, their carbon risks.”
“C-Lock will profit from the intersection of expansive carbon avoidance regulation and the pronounced absence of precise, accurate, scalable and transparent tools to measure greenhouse gas emissions,” said Vince Cook, CEO of C-Lock Technology Inc., the parent company of C-Lock Technology Canada Inc. “C-Lock will gain revenue from consulting fees, technology licensing and, principally, sharing in proceeds from the sale of emission credits measured and generated by C-Lock. As a green technology solution with strong partners, our business is characterized by recurring revenue, low capital intensity, high returns on investment and robust profit margins linked to high volumes. Our technology can be scaled significantly, and rapidly.”
About C-Lock Technology Inc.
C-Lock Technology Inc., a subsidiary of Evergreen Energy Inc. (NYSE Arca: EEE), is deploying GreenCert™, a web-based carbon information management tool for agriculture and industry, including the energy industry. GreenCertÔ is a combined solution set that integrates IBM software products and tools with customized C-Lock Technology Inc. software processes for the complex task of precise and accurate GHG measurements. The IBM framework platform and architecture meets current GHG processing demands and is scalable for worldwide and large enterprise applications. On the Web at www.c-locktech.com.
About C-Lock Technology Canada Inc.
C-Lock Technology Canada Inc., aka Carbon Credit Corp., is a values-based, greenhouse gas management company that leads its clients to sustainable profitability in a regulated world by aligning their social, environmental and financial goals. The company is carbon neutral, a founding reporter of The Climate Registry, and produces a Global reporting Initiative format Sustainability Report. www.carboncreditcorp.biz
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