VANCOUVER, Aug 11, 2009 -- Carbon Friendly Solutions Inc. (TSX Venture Exchange: CFQ) ("CFS" or the "Company") (http://www.carbonfriendly.com) is pleased to announce its wholly-owned subsidiary Global CO2 Reduction Inc. has initiated its Northern Ontario Pilot Project (the "Project"). CFS has completed planting 92,000 Jack pine seedlings on 40 hectares of land during stage one of its first North American reforestation project, in coordination with Trees for Clean Air (TFCA). The total land in the Project area is 45 hectares. CFS in cooperation with TFCA will plant the remaining 5 hectares with fast-growing willows in mid-August 2009, during stage two of the Project.
On July 24, 2009, Steve Clark, VP Operations, helped launch CFS's first forestry offset project in Kapuskasing, Ontario, Canada, during the ribbon-cutting ceremony at the Project site and later during the opening ceremony to the Kapuskasing Heritage Festival, where Steve helped kick off as an honoured guest. The Project has received remarkable community support, as well as support from Kapuskasing Mayor Alan Spacek and the Town Council. The Northern Times newspaper has published several articles about the Project. Their latest article about the Project launch is at www.kapuskasingtimes.com/ArticleDisplay.aspx?e=1687062.
Rainforest Alliance, an organization accredited to conduct audits and verifications based on the Climate, Community, and Biodiversity Alliance (CCBA) design standards, will be completing its on-site audit of the Project in mid-August 2009, and CFS is confident that the Project will be the first forestry offset project in Canada to be CCBA-accepted, as well as the first project in Canada to be successfully validated to CCBA design standards.
On July 21, 2009, CFS submitted an updated Project Design Document (PDD) to Rainforest Alliance, the independent auditor, in response to their preliminary validation assessment that was completed on July 7, 2009, in preparation for the on-site audit of the Project in mid-August 2009. By the end of August, CFS anticipates the Project will earn CCBA validation by the end of August 2009. CFS anticipates that nearly 20,000 high-quality carbon credits, validated to CCBA standards, will be generated from the Project and will be sold in the Voluntary Market by late summer.
The Project is located in the City of Kapuskasing, in northern Ontario. The land was leased by CFS from the City of Kapuskasing. In accordance to the terms of the lease agreement, the trees will continue to sequester carbon dioxide from the atmosphere in the Project area for a minimum of 100 years.
About CCBA
The Climate, Community and Biodiversity Alliance (CCBA) is a partnership between leading companies, non-governmental organizations (NGOs) and research institutions seeking to promote integrated solutions to land management around the world. With this goal in mind, the CCBA has developed voluntary standards to help design and identify land management projects that simultaneously minimize climate change, support sustainable development and conserve biodiversity. Website address http://www.climate-standards.org/index.html
About Trees for Clean Air
Trees for Clean Air Inc. (TFCA) is a reforestation and afforestation company that specializes in customized silviculture services for individuals and companies that want to offset carbon emissions. The company provides high-quality trees, expert planting, and tree cultivation services to achieve the clients target survival and growth rates. TFCA is incorporated under the laws of Ontario, Canada and is solely owned by Julie Culverhouse, a Registered Professional Engineer.
About Carbon Friendly Solutions Inc.
Carbon Friendly Solutions Inc. (CFS) is a project proponent that provides solutions for companies, organizations and individuals looking to reduce or offset their global warming impact caused by greenhouse gas emissions while including the generation of carbon credits for sale in the global Voluntary and Compliance markets. Through its wholly owned subsidiaries, Global CO2 Reduction Inc. and CO2 Reduction Poland Sp. z.o.o., CFS is focusing on removing and offsetting carbon dioxide emissions from the completion of reforestation, biomass energy and renewable energy technology projects that are independently validated and verified to globally recognized standards and methodologies.
On behalf of the Board of Directors Carbon Friendly Solutions Inc. (signed) Michael Young CEO, Director
Certain statements included in this News Release contain forward-looking statements, including disclosure concerning possible or assumed future results of operations of the Company. Forward-looking statements typically are preceded by, followed by or include the words - "believes," "expects," "anticipates," "estimates," "intends," "plans," "or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions, and the Company's results could differ materially from those anticipated in these forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Carbon Friendly Solutions Inc.
