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Carbon Conscious and Origin Energy Agree Large Scale Carbon Forest Sink Deal
Thursday July 16, 2009, 12:33 pm

Original Announcement: CCF and ORG agree large scale carbon forest sink deal

Carbon Conscious reported that it and Origin Energy have successfully completed due diligence and signed contracts for carbon bio sequestration project in Australia. The contract involves Origin paying Carbon Conscious to plant millions of native Mallee Eucalypt trees on less viable agricultural land in the wheatbelt regions of Australia for the production of Carbon Permits tradable under the Commonwealth Government's Carbon Pollution Reduction Scheme. Origin has engaged Carbon Conscious to establish environmental carbon offset plantings over the first 3 seasons (2009, 2010 and 2011). These plantings will have a face value of approximately $26m and comprise both upfront planting and ongoing licence and management fees payable over the 15-year term of the arrangement.

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