LONDON, Feb. 1, 2007 (PRIME NEWSWIRE) -- CO2 Tech (Pink Sheets:CTTD) President, Ms. Helga Schotten, today announced that CO2 Tech will lead the analytical assessment phase of the Guyana Conservancy Adaptation Project, a large-scale World Bank environmental project, sponsored by the Global Environment Facility. The Special Climate Change Fund (SCCF) of the Global Environment Facility, of which the World Bank is a trustee, has granted $3.8 million in this project, with overall project costs estimated to reach $20 million.
The Guyana Conservancy Adaptation Project involves large infrastructure components aimed at strengthening physical assets and infrastructure to help reduce Guyana's vulnerability to intense climatic events. In view of global climate changes, and the impact of sea level rise, the current ad-hoc approach to flood control in Guyana is no longer viable.
CO2 Tech will lead specific actions, including a comprehensive analytical assessment, for upgrading the conservancy and strengthening drainage capacity in the face of increased sea levels and more variable rainfall. The project will target vulnerable coastal communities who stand to lose their homes and livelihoods due to flooding.
Helga Schotten, President of CO2 Tech notes, "CO2 Tech is proud to work with these global partners on projects that will solve the problems of Guyana and increase global awareness to the importance of worldwide physical infrastructure upgrades to reduce vulnerabilities brought on by global warming. The Guyana Conservancy Adaptation Project represents important opportunities for global learning and an outstanding opportunity for CO2 Tech to participate in its future applications as well. The project is expected to serve as a template that could be applied to countries with similar geographical attributes."
For more information on the Guyana Conservancy Adaptation Project, see the World Bank document at http://web.worldbank.org/external/projects/main?pagePK=104231&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P103539
The Special Climate Change Fund (SCCF) (http://unfccc.int/cooperation_and_support/financial_mechanism/special_climate_change_fund/items/3657.php) was established in 2001 to finance projects relating to adaptation, complementing other funding mechanisms for implementation of the United Nations Framework Convention on Climate Change. The Global Environment Facility (GEF) (http://thegef.org), which helps developing countries fund projects and programs that protect the global environment, has been entrusted to operate the SCCF. GEF supports projects related to biodiversity, climate change, the ozone layer, organic pollutants and other environmental issues with global implications. The World Bank serves as trustee of the Global Environmental Facility (GEF); at the same time it is jointly with the UN Development Programme (UNDP) and the UN Environment Programme (UNEP), one of the implementing agencies for GEF projects.
About CO2 Tech
CO2 Tech, a UK-based company, provides cutting-edge, sophisticated anti-global warming technologies along with a full range of environmental products and services to businesses, industries and governments. CO2 Tech's innovative approach provides high quality, maintenance-friendly system solutions that offer cutting-edge technological developments and outstanding reliability. CO2 Tech has extensive firsthand experience with all major air pollution control equipment including air pollution control systems, removal of fine solid particles from gas/air units, evaporator units, reduced CO2 emission units.
CO2 Tech offers its customers the benefits of its cutting-edge technological products, proprietary innovations and rich experience in industrial applications of control equipment, with petroleum, factories, mining, metals, boilers, glass, chemicals, woodworking, quarries, textiles and most other heavy industries. CO2 Tech fosters strong partnerships and alliances with leading environmental engineering companies and research institutions worldwide to develop, manufacture and market high-quality instruments, systems, and services for its clients.
You are invited to learn about CO2 Tech and the full range of its technologies and services at our website, http://www.co2-tech.com.
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