17 de October, 2009

ENAEX receives Carbon Credit Certificates from the UN.

It is the largest project in Chile. The issuance of carbon credits from the Panna 3 plant of Mejillones means an annual reduction of about 800,000 tons of CO2 and is the largest project of its kind in Chile.

Enaex -a company subsidiary of the Sigdo Koppers Group - received official notification by the United Nations (UN) of the issuance of the first 189,100 Certified Emission Reduction certificates (CERs) generated by the company, through its Carbon Credit Project developed at its Panna 3 plant in the city of Mejillones, 2nd Region in Chile.

The Carbon Credit Project developed by Enaex is considered the most important in Chile, accounting for more than 20% of the reduction of greenhouse gases of all such initiatives approved in the country, which means an annual decline of approximately 800,000 tons of carbon dioxide (CO2).

The general manager of Enaex, Juan Andrés Errázuriz, noted that "obtaining this certification confirms the commitment of Enaex to decrease greenhouse gases and their decision to make a significant environmental contribution to the community." He added that the joint work of professionals and operators of the company allowed the success of this project.

Noteworthy is that if the process of reductionis successfully completed up tothe year 2012, Enaex would receive additional profits of around an average of US $ 6 million per year.

The Carbon Credit Project of Enaex began in late 2006 with the signing of three contracts. The first, with Uhde Gmbh (Germany) for abatement technology. The second, with Carbon GmbH (Austria), for the developmente of the project before the UN, and the third, with Mitsubishi Corporation (Japan), for the sale and purchase of the CERs.

In October of 2007 the project was registered at the United Nations, which meant being officially recognized by this entity through its organization specialized in climate change, the United Nations Framework Convention on Climate Change (UNFCCC). In June of 2008, the reduction system started operating.

For the issuance of the Carbon Credits the UNFCCC requestsperiodic audits, during which the amount of CERs generated are verified quarterly. For Enaex, this process is performed by the German company TUV-SUD, carrying out a comprehensive review that considers a physical analysis of the facilities, monitoring the systems that measure nitrous oxide, nitric acid, ammonia and a thorough inspection of the carbon counting software for Emission Reduction specially developed by the company.

Enaex is a subsidiary of Sigdo Koppers S.A., a Chilean conglomerate leader in the industrial, services and automotive sectors. With a history spanning over 85 years, Enaex has established itself as the most importan rock fragmentation service company of Chile and Latin America.