HOUSTON, March 26, 2010 (GLOBE NEWSWIRE) -- Element Markets, LLC, a Houston-based greenhouse gas project developer and supplier of environmental credits in North America, today announced that it has listed the first Climate Action Reserve (CAR) Organic Waste Digestion (OWD) Project through an asset management agreement with Environmental Management Corporation (EMC), a subsidiary of American Water. The new CAR OWD protocol was issued in October 2009, and the listing of this project for the generation of greenhouse gas credits showcases the benefits of wastewater methane destruction.
"We are thrilled to partner with Element Markets on this groundbreaking project that exemplifies our company's interest in maximizing all possible products and byproducts of the wastewater treatment process," said John Mitchell, President of Environmental Management Corporation. "Acceptance of this project by the Climate Action Reserve highlights our company's excellence in providing environmentally sustainable solutions."
The project came online March 2009, and was officially listed December 2009. Located in Texas, the EMC facility collects raw wastewater from onsite processes and pumps it to an anaerobic lagoon for treatment. The facility utilizes anaerobic digestion which is the treatment of industrial or agricultural waste in an oxygen-free environment to reduce organic strength and produce biogas. The biogas is a methane-rich gas which can be used to produce electricity and/or heat for industrial processes or exportation.
Element Markets serves as the asset manager for EMC, and manages the registration, verification and marketing of the greenhouse gas credits. Element Markets estimates that the facility will generate 20,000 to 25,000 metric tons of greenhouse gas offsets per year, created through the destruction of methane that would have otherwise been emitted.
"We are committed to developing and managing high quality greenhouse gas destruction projects and are pleased to be the first company to successfully list an OWD project on CAR," said Angela Schwarz, President and Chief Operating Officer of Element Markets. "The management of wastewater will be a growth sector for us and we are honored to be a partner with an industry leader such as EMC."
"We are pleased to see the application of the Organic Waste Digestion Project Protocol. The OWD protocol was a natural successor to the Landfill Project Protocol, which already has nearly 130 projects submitted under it. OWD could experience similar rapid industry application, and we congratulate Element Markets for being the first to venture into this area of emissions reductions," said Gary Gero, President of the Climate Action Reserve.
About Element Markets, LLC
Element Markets, LLC is the leading developer and supplier of environmental credits in North America, with integrated trading expertise in the greenhouse gas, renewable energy and emissions credit markets. Since its inception in 2005, Element Markets has built one of the industry's largest diversified development portfolios of wind, solar, methane and greenhouse gas mitigation projects. The company provides structured environmental compliance and optimization services to prominent corporate and institutional clients. Element Markets is based in Houston, Texas. More information is available at www.elementmarkets.com.
About Environmental Management Corporation
Environmental Management Corporation is headquartered in St. Louis, Missouri, and provides water and wastewater management solutions for industrial and municipal customers. The company pioneers solutions for optimizing the total water cycle, turning liquids, solids and gases to its customers' advantage. The company is a wholly owned subsidiary of American Water (NYSE:AWK). Founded in 1886, American Water is the largest investor-owned U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide drinking water, wastewater and other related services to approximately 16 million people in 35 states, as well as Ontario and Manitoba, Canada. More information can be found by visiting www.amwater.com.