BOULDER, Colo. and BRISBANE, Australia, July 16, 2009 (GLOBE NEWSWIRE) -- Save The World Technologies Inc. (Other OTC:SWTG), an international alternative forestry company focused on reforestation and carbon sequestration projects, has reached a multi-million dollar agreement for the sale of carbon credits created through their Global Forestry Plan projects.
The agreement with a US-based Green Venture Fund confirms the strong corporate confidence in Save The World Technologies' Global Forestry Plan and its offering to the burgeoning carbon market.
The Global Forestry Plan delivers large scale reforestation projects with a positive environmental and economic impact for shareholders, and the global environment. The high level of carbon sequestration is derived from the Kiri Tree, a tree developed by the company over the last 20 years.
"The Kiri Tree is an intrinsic element of the Global Forestry Plan; it is a fast growth tree ready for mature harvest in just seven years. It regrows from the stump after harvest and has among the highest levels of carbon dioxide (CO2) sequestration of any tree on earth. It is this sequestration direct from our polluted atmosphere where we generate carbon credits," Save The World CEO Martin Tindall said today.
"This deal, at such an early stage of our company's growth, confirms the amazing confidence in our business model and the Global Forestry Plan from investors and the business community. This contract will pave the way for us to secure land for our forests and begin planting as early as 2010, confident in the fact we have already secured a large portion of our cash flow for each project."
While forestry has traditionally relied solely upon revenue from harvests often decades after initial planting, the Save The World Technologies' Global Forestry Plan generates cash flow from the beginning of the forests life-cycle by way of carbon credit sales.
"This agreement highlights how revenue can be created from the start of our forests' life cycle and generates a positive cashflow within 18-24 months. Significantly, this is done by creating a positive environmental outcome through the millions of tonnes of CO2 sequestration."
The Global Forestry Plan is based on replicating 1000 acre modules using the Kiri Tree. A single module will result in the carbon sequestration of over 500,000 tonnes of CO2 directly from the atmosphere and US$6m in carbon credit revenue alone. It is the carbon revenue that creates a cash flow positive forest within 18-24 month of planting, well before any tree is harvested.
Negotiations are currently in place for a total of 71,000 acres of projects around the world, and with a carbon agreement in place and a current capital raising offer nearing completion, the company is confident of securing some significant land parcels for reforestation.
"We're currently working with key accredited investors raise capital to fund the initial planting of our forests with the first offer closing shortly. We are very confident that the strength of our Global Forestry Plan, coupled with this carbon agreement and future capital raising offers that are planned, we will see a number of successful Global Forestry Plan projects created in the near future," Tindall said.
Interested eligible investors should contact Save The World Technologies on US - (303) 586 1648 or AU - 1800 783 770, email invest@savetheworldtech.com or through the 'Invest' link on the company website, www.savetheworldtech.com.
About Save The World Technologies Inc.
Save the World Technologies Inc. (Other OTC:SWTG) is an international alternative forestry company focused on reforestation projects for positive environmental and economic impact through large scale bio-sequestration of carbon dioxide greenhouse gases and delivery of sustainable timber to global markets.
Headquartered in Queensland, Australia and Boulder, Colorado, the company, with its unique IP vested in its Kiri Tree and Global Forestry Plan, is well-positioned to take advantage of the emerging demand for renewable forests and the burgeoning carbon market.
For more information, please visit www.savetheworldtech.com.
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