Five Finite Carbon Improved Forest Management Projects in South Carolina Developed with Milliken Forestry Receive Climate Action Reserve Listings

Country’s No. 1 forest carbon project developer now has secured contracts for two million carbon offsets, valued at $12 million

WAYNE, Pa. — (BUSINESS WIRE) — August 4, 2010 — The Climate Action Reserve (CAR) has listed five Finite Carbon Corporation Improved Forest Management projects developed with Milliken Forestry Company for four South Carolina properties under CAR’s Forest Project Protocol.

Together, these projects are expected to generate nearly 750,000 million carbon offsets during the first 10 years, which, at current carbon prices, would bring the landowners almost $4.5 million in additional revenue.

Finite Carbon is the country’s No. 1 forest carbon developer, providing landowners with a single-source, end-to-end solution to create and monetize carbon offsets; it is developing the five South Carolina projects for privately owned tracts in Allendale, Colleton, Georgetown, and Richland counties, in the southern part of the state.

All five projects are under development on forest lands of clients of Milliken Forestry Company, a leading regional land management specialist that provides long-term forest management consulting and services for more than 600,000 acres in South Carolina, North Carolina and Georgia.

“Milliken Forestry Company has greatly benefited from the knowledge and expertise that Finite Carbon brings to the table,” said Milliken Consulting Forester Thurston “Trip” Chavis. “With a highly qualified team and an extensive background in the forest carbon field, they have assisted us in providing a service to our clients that would otherwise be unapproachable.”

Collaborating with Finite Carbon, Milliken’s certified foresters will deliver geographic information system (GIS) and field services for the five projects, including mapping, inventory design and implementation, and other support roles, as needed.

Following are brief descriptions of the projects:

  • Two of the projects—designated as Ravenwood 1 and Ravenwood 2—are situated on 845 acres of the historic Ravenwood Plantation in Colleton Country and, together, are expected to generate nearly 68,000 carbon offsets during the first decade. A conservation easement on the Ravenwood Plantation is held by The Lowcountry Open Land Trust, a local organization that promotes conservation and protects forests and wetlands in the region.
  • A project on 1,362 acres of the Hinson Haulover Tract in Georgetown County, for which an easement is held by the federal government through the Wetlands Reserve Program, is expected to generate nearly 84,000 carbon offsets in the first 10 years.
  • The Cleveland Swamp in Richland County is the site of a project that involves 1,152 acres of bottom land near the Wateree River. The tract, primarily red oak and sweet gum trees, also has a federally held WRP easement that prohibits harvesting of the timber. It is forecasted to generate more than 84,000 carbon offsets in the first 10 years.
  • Allendale County is the site of a project involving a 5,003-acre mature forest that is part of the 23,000-acre Groton Plantation. That project is expected to have a 10-year yield in excess of 509,000 carbon offsets.

To date, Finite Carbon projects comprise 2 million carbon offsets

“In recent months we’ve experienced a quickened pace in the number of forest landowners seeking to participate in the carbon market, which can provide them with a new income stream for keeping forest carbon sequestered,” said Finite Carbon President Scott Nissenbaum. “The combination of our experienced team of forestry and financial experts and our unique model that shifts the risk from landowners to Finite Carbon continues to gain traction with both owners and consulting foresters.”

Nissenbaum noted that in less than a year and a half since Finite Carbon began operation, the company has evaluated more than 2.5 million acres of forest land in the United States and signed contracts for two million carbon offsets, valued at $12 million, at current carbon prices.

About Finite Carbon Corporation

Forestry and finance experts established Finite Carbon in 2009 to facilitate U.S. landowners’ participation in carbon offset markets. The company, which is solely focused on forest carbon and offers the most comprehensive forest carbon project development and commercialization service in the country, provides a single-source, end-to-end solution that includes all the in-house expertise and capital needed to take a landowner from a forest carbon inventory to selling offsets. The company is headquartered in Wayne, Pa., and has offices in San Francisco, Calif., and Cherry Creek, N.Y. For more information, please visit www.finitecarbon.com

Note: Finite Carbon is a trademark of Finite Carbon Corporation. The names of other actual companies, organizations and/or products/services mentioned herein may be the trademarks of their respective owners.

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