CRM Portfolio Grows to Over 45 Million Tonnes
Carbon Resource Management has a portfolio of over 45 million CERs and VERs under contract, as of November 2008.
Nick Clarke, CRM's CEO expressed his thoughts on the progress being made by saying, "The Company has secured a strong presence in China, based upon an experienced team and good relationships with our partners. We are also seeing the results of our work outside of China, having secured contracts in Vietnam, India, Pakistan, and countries in Eastern Europe and Central Asia. We are optimistic of further significant growth in 2008/2009”.
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Vitol invests to become CRM shareholder
Following a subscription of new shares, Vitol BV became a 25% shareholder in Carbon Resource Management Ltd (CRM).
Effective April 1st 2008, Vitol's investment included equity injection into the business and financial support for future development of CRM's CDM business. Vitol brings worldwide marketing and risk management expertise in the carbon emissions market.
"This gives CRM the platform to accelerate growth and the financial strength to become the pre-eminent CDM developer in the market," said Nick Clarke, Chief Executive Officer of Carbon Resource Management.
Click here to view the Press Release
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CRM signs new waste heat recovery and large CMM projects
During September 2007 CRM signed ERPAs for a large Coal Mine Methane (CMM) and a waste heat recovery project at a cement works in China, bringing the company's portfolio to 25 million tonnes.
Outlining the development plans for the future CRM's CEO, Nick Clarke, said: "We have now positioned our business development capacity in Beijing in readiness for a major growth phase in which we aim to secure contracts in a number of new areas and with new methodologies. We expect to increase our portfolio by 20 million tonnes within the next 18 months and we are confident of achieving that goal."
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