Blaine, Washington-based Greenlite Ventures launches website to sell voluntary carbon offsets from 4,199-acre teak plantation in southern Panama
March 12, 2012
– Greenlite Ventures Inc. ("Greenlite") (OTCBB: GLTV) announced today that it has commenced sales of voluntary carbon offsets through its Website at www.greenlitecarboncredits.com. The carbon offsets being sold are from carbon sequestration by teak trees planted by United Nature in Panama. Greenlite has an agreement with United Nature to market carbon offsets produced by their reforestation projects in Panama's Darien region, the most southern region of Panama. United Nature has 1700 hectares (4199 acres) under ownership and management in Panama. Each hectare sequesters approximately 10 tons of atmospheric carbon per year. United Nature plants in jungle areas that have been damaged as a result of illegal or unethical tree harvesting practices such as clear cutting. Teak is the preferred wood for the plantations because it is resistant to disease and forest fires. Due to its high value for boat decks and other manufactured wood products it is not burned as firewood which would return carbon sequestered to the atmosphere. Details on United Nature's plantations can be found at their website www.UnitedNature.com.
Greenlite is a carbon offsets marketing company. We market carbon offsets through our website to voluntary markets where no verification is required. Greenlite has the exclusive agreement to sell offsets generated by United Nature. United Nature owns and manages sustainable teak plantations and invests in buying rainforest for reforestation. Their projects are located in Darien Province, Panama.
Greenlite's longer term plan is to market and sell verified Deforestation and Degradation (REDD) carbon offsets from global restoration projects. Our focus is on reforestation, ideally with producers, similar to United Nature who provide work opportunities and benefits to the indigenous people.
Greenlite's longer term plans also include seeking to join carbon exchanges and marketing other forms of verified carbon credits.
Greenlite's shares are traded in the United States on the OTC Bulletin Board (OTCBB: GLTV).
SOURCE: Greenlite Ventures Inc.