Aera and Ecosphere+ Extend Partnership For Additional Carbon Credits From Africa.20 July 2022
Aera Group SAS (“Aera”), the largest originator and trader of African carbon credits is pleased to announce the execution of a new transaction with Ecosphere+ Ltd (“Ecosphere+”), one of the largest worldwide nature-based solutions offsets provider.
The transaction covers the forward sale of Verra VCS credits generated by an efficient cookstoves program for households in Central Africa. The contract sets a fixed price per ton to support long term devices distribution effort. Partial prepayment supports short term deployment. Deliveries begin in 2024.
The deal announced this morning is the third one in a series between Aera and Ecosphere+ on the same cookstoves program. The volume has been increased twice since first contract signature back in January 2022. Contract value could be up to €5m.
The partnership between Aera and Ecosphere+ extends beyond cookstoves and other deals have been executed where each party acts on the sell or buy side. The companies have strong synergies as they both originate offsets with a strong specialization: Aera focusing on social impact and bottom of pyramid technologies in Africa and Ecosphere+ on Nature-Based Solutions worldwide.
Lisa Walker, CEO at Ecosphere+: “Very pleased to reinforce our relationship with Aera, a reliable and reputable partner with a strong track record in originating high-quality carbon projects that deliver impact at scale. Efficient cookstoves technologies are vital to reducing pressure on forest ecosystems, particularly in Africa, where wood energy for cooking is one of the main sources of deforestation. We’re thrilled to be deepening our partnership with AERA and expanding to new regions to continue to transform outcomes for climate, nature and people.
Fabrice Le Saché, Chairman of Aera Group: “Ecosphere+ is a twin business model and our spirit are very similar: bring the carbon finance down to earth and cash on ground as fast as possible to accelerate climate transition in Africa. Ecosphere+ team is efficient, fast and innovative in framing and crafting business relationships. It’s a pleasure to work along with them and we look to expand further our business lines.”