07/23/08

During the fourth VER auction on the Climex Auction Platform a total of 50,778 validated VERs were on offer from two Chinese Hydro Projects with vintages from 2006 to 2008. Verification and delivery are expected later this year. The transaction was supported by Caspervandertak Consulting and Gansu Tonghe Investment Project Consulting Co., Ltd. who prepared the documentation for the projects and the emission reductions and presented the projects to Climex.

This was the first forward auction of VERs on Climex. One project sold at €3.50. This price included the costs of verification. The other project sold at €3,00. In this price the verification costs were not included.

The next VER auction on Climex is scheduled for 28 August 2008. During this auction around 23,500 Social Carbon VCS VERs from a Fuel Switching to Renewable Biomass project in Brazil will be on offer with vintages from 2008 and 2009. Part of the volume consists of issued VERs and part of the volume will be sold on a forward basis.