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March 05, 2008
Paris' Eco-Carbone Closes EUR2.1M For Carbon Offset
It will be interesting to see if VC-backed startups will be able to cash in on climate change mitigation. Alternative energy technology like new solar panels clearly are a winner but what about carbon offset?
Paris' Eco-Carbone has won a first round of financing at EUR 2.1M from Truffle Capital. The firm started out in 2001 as a carbon offset consulting firm and has developed a couple lines of business.
+ Eco-Carbone produces biodiesels from the inedible grains of Jatropha, a tree that grows in poor soil conditions. It has developed ten sites in China, Vietnam, Cambodia, Mali and Brazil.
+ It continues to consult to coal mines to help them to recoup methane emissions and turn that into energy. Mine owners, particularly in China, cash these in for carbon credits which are then sold on the international markets. Eco-Carbone says sells about 2M tons of carbon credits per year.
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Posted on March 5, 2008 03:15 PM | Posted to Alternative Energy | Permalink
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