VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/03/13 -- Offsetters Climate Solutions Inc. ("OCS" or the "Company") (TSX VENTURE: COO)(FRANKFURT: 9EA) is pleased to announce that 0896996 BC Ltd, a project development company for Co-Operatives, in conjunction with the Carbon Offset Aggregation Cooperative of BC (COAC), have retained the services of Offsetters Climate Solutions to co-develop an innovative software solution that will enable COAC to effectively manage the fuel savings that its fuel efficiency program will generate, including the reporting of these results directly to its clients. In addition, the software will enable the COAC team to quantify and aggregate the resulting greenhouse gas emission reductions across multiple deployments of fuel-saving technologies, allowing for hundreds of vehicles and machinery to qualify and benefit from their decrease in fuel use, through the creation and sale of carbon offsets.
COAC is a British Columbia based organization that deploys energy saving technologies in trucks, industrial vehicles and industrial machinery that deliver fuel savings greater than what would otherwise occur in a business as usual scenario. As most industrial vehicles use diesel fuel as their primary energy source, these measures are aimed at reducing the total volume of diesel used, resulting in both an economic and environmental net benefit. Proceeds from the sale of carbon credits derived from these reductions will flow directly to COAC customers, many of whom would be too small to receive the additional incentives available from the carbon market were it not for this innovative aggregation strategy.
The COAC software solution will utilize the experience and expertise that Offsetters' Technology Innovation and Project Sourcing teams have gained from designing and developing a range of advanced carbon business management software applications for agricultural, forestry and lifecycle sectors. For the COAC software solution, a comprehensive monitoring, reporting and verification (MRV) application will be developed to determine fuel savings across a broad range of sectors that represent COACs membership including long haul distribution, the forestry sector and other resource based companies. Offsetters Climate Solutions will also research, design and implement statistical analysis functionality to automate the quantification of fleet-specific emission factors. In addition to the software component, Offsetters has also been contracted to provide carbon project development services for the fuel efficiency program.
"Transportation and the use of heavy machinery are a leading source of carbon emissions internationally. As such, we are very excited to undertake this co-innovation project with COAC's team, addressing fuel efficiency applications at scale, and the critical piece of monitoring and calculating the reductions resulting from the program," commented, Joerg Germann, Chief Technology Officer at Offsetters. "It is a first for BC and a first for Canada. We envision this software to be a critical element in allowing an aggregation program like this to be utilized internationally, helping other jurisdictions reduce fuel use, and carbon emissions in the transportation industry."
George Stedeford from COAC commented, "This development is the next step in our one of a kind program. This innovative software will allow us to demonstrate that behavioural change, in conjunction with some relatively straight forward technologies, can have a massive impact on the amount of fuel a member uses. We decided to work with Offsetters due to their experience in delivering software solutions that require in-depth carbon project quantification knowledge, engineering expertise and process automation. Offsetters has been a partner in this program from a very early stage and we are delighted to be working with them."
James Tansey, Ph.D., President and CEO
Offsetters Climate Solutions Inc.
The Carbon Offset Aggregation Cooperative was launched by the Central Interior Logging Association in BC, with the aim of implementing energy efficiency measures for various industrial vehicles and machinery throughout the province. Using an aggregation model, fleet owners can aggregate fuel savings from the implementation of fuel reduction technologies from any size fleet, providing them access to carbon finance funds not previously available. The monetization of carbon in the form of offsets helps overcome the financial barrier to the adoption of many of the fuel saving technologies employed. The net benefit to the environment is found in decreased amounts of volatile organic compounds, oxides of nitrogen and sulfur, particulate matter and carbon monoxide. For more information, please visit www.carbonoffsetcooperative.org.
About Offsetters Climate Solutions Inc.
As Canada's largest and most diversified carbon management solutions company, Offsetters helps organizations understand, reduce and offset their climate impact. Its team of industry leaders specializes in the origination, development and commercialization of high-quality carbon offset projects and is proud to also provide clients with a comprehensive offering of sustainability consultancy services. A merger of ERA Carbon Offsets and Offsetters, Offsetters is based in Vancouver, Canada and has worked with over 150 of the world's most prestigious organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE - Entega, and Shell Canada Limited. Offsetters is publicly listed company on the Toronto Venture Exchange (TSX VENTURE: COO) and in Frankfurt (FRANKFURT: 9EA). For more information, please visit us at www.offsetters.ca.
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of forest-based carbon offsets. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Offsetters Climate Solutions Inc. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Offsetters Climate Solutions Inc.
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