Anaerobic digestion projects at municipal waste sites to reduce emissions
Dubai, October 21, 2007: Dubai Multi Commodities Centre (DMCC) and EcoSecurities announced today that they have signed a Memorandum of Understanding (MOU) with Zero Waste Technology to jointly develop municipal waste treatment centers using anaerobic digestion projects under the Kyoto Protocol's Clean Development Mechanism (CDM). EcoSecurities is one of the world's leading companies in the business of sourcing, developing and trading carbon credits from greenhouse gas emission reduction projects. Zero Waste Technology is a leading regional player involved in mechanical recycling, and biological treatment of public waste.
Anaerobic digestion projects at municipal waste sites reduce emissions by preventing methane from being released in the atmosphere. Instead, the methane is captured and converted into energy. These projects also lead to a reduction in the use of fossil fuel-based energy from the local grid.
As part of this agreement, Zero Waste Technology will provide the technology required to capture and treat waste to produce biogas, which can be converted into heat and electricity. EcoSecurities and DMCC will assist in the development of the CDM component of the project, and purchase the Certified Emission Reductions (CERs) thus generated. DMCC will also support the implementation of this type of anaerobic digestion technology throughout the region and encourage similar projects throughout the United Arab Emirates.
Dr. Tilak K. Doshi, Executive Director for Energy at DMCC, said: "DMCC is working towards making Dubai a leading centre for the origination, development and trading of carbon emissions credits, through developing projects that are compliant with the Kyoto Protocol's CDM. These CDM-compliant anaerobic digestion projects for municipal waste sites will contribute significantly towards reducing the UAE's carbon footprint."
According to Souheil Abboud, Middle East Regional Director of EcoSecurities, "We are excited to work with Zero Waste Technology and DMCC to exploit the large emission reduction opportunities within the region's municipal waste facilities. We view the affiliation with Zero Waste as a way of building on our partnership with DMCC, by developing CDM business models and projects that could be replicated regionally."
Dr. Omar Al-Halabi, Vice President Engineering and Technology at Zero Waste, said "Concern about our environment led by DMCC and EcoSecurities will help us realize our shared vision of a greener region. Zero Waste is currently in the process of finalizing the details of setting up waste treatment projects using the natural process of anaerobic digestion in the Kingdoms of Jordan and Saudi Arabia. This is in addition to the current project in the Kingdom of Bahrain, which once completed will be the largest of such facilities regionally."
DMCC and EcoSecurities signed an MOU in June 2007 to promote CDM projects, and generate emission reduction credits within the UAE, while building the profile of Dubai as a regional centre for carbon emission reductions and trading.
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About the Dubai Multi Commodities Centre - Energy Division:
The Dubai Multi Commodities Centre, a strategic government initiative, rated 'A' by Standard & Poor's, provides innovative concepts and industry-specific physical and market infrastructure products that facilitate the growth of the energy (alongside other commodities) business in Dubai. DMCC's strategic objectives include reinforcing Dubai's position as the energy hub for the region, in addition to the development and launch of energy contracts for the Dubai Gold and Commodities Exchange (DGCX). DMCC is working with partners, regionally and internationally, to promote the highest global standards in product and service development, while encouraging greater transparency to the benefit of all market participants. DMCC facilitates businesses in Dubai through its free zone status. www.dmcc.ae
About EcoSecurities:
EcoSecurities is one of the world's leading companies in the business of sourcing, developing and trading emission reductions. EcoSecurities structures and guides greenhouse gas emission reduction projects through the project cycle, working with both project developers and buyers of emission reductions. Working at the forefront of the carbon market development, EcoSecurities has been involved in the development of many of the global carbon market's most important milestones, including developing the world's first CDM project to be registered under the Kyoto Protocol. EcoSecurities Group plc is listed on the London Stock Exchange AIM (ticker ECO). Additional information is available at www.ecosecuriites.com
About Zero Waste Technology:
Zero Waste Technology is a leading regional company in the business of technology/services supply, development and operations of waste management facilities projects. Zero Waste utilizes natural solutions to reduce the effects of waste on the environment and maximize resource recovery back to the nature. With local government and private investor partners, Zero Waste aim to transform the Middle East and North Africa from oil and gas desert kingdoms to Eco friendly green nature. Zero Waste has been involved in the development of many waste treatment project including the first Anerobic Digestion plant for municipal waste in the Middle East in 1999. Additional information is available at www.zwaste.com
For further information on DMCC, please contact:
Nicholas Nesson
Sudha Hemmad
Gunjan Chaurasia
ASDA'A Public Relations
Exclusive Affiliate of Edelman
Middle East & North Africa
Dubai
UAE
Tel: 971-4-3344550
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com
E-mail: s.hemmad@asdaa.com
E-mail: .chaurasia@asdaa.com
Faris Sulaiman
Business Development Manager
Zero Waste Technology
Tel: +973 17 786110
Email: faris@zwaste.com
Jill Barker
Marketing Executive
EcoSecurities
Tel: +44 (0) 1865 202 635
Email: jill.barker@ecosecurities.com
© Press Release 2007
