Camco ( London: CAO ) announced a successful auction of 5.8 million [M] tons of carbon credit certificates yesterday, netting a better than expected $15M euros or $22M USD. The Company has gained over 11% in the last five trading days and over 46% in the last month, resulting in a market cap of about $185M USD. Another mover in the Global Carbon Trading Index this past week is Clean Energy Fuels (CLNE), which recently acquired Dallas Clean Energy, LLC, from Camco in a $19.1M cash deal. As part of the sale agreement, Camco and Clean Energy Fuels have agreed to enter into discussions for a deal in which Camco provides consulting services to determine the potential for the landfill gas operation to generate emission reduction credits.
Camco International +11.6%
Clean Energy Fuels + 19.7%
iPath Global Carbon ETN (GRN) +4.1%
PowerShares Clean Energy ETF (PBW) -1.1%
U.S. Oil Fund (USO) +0.9%
U.S. Natural Gas Fund (UNG) +0.2%
Camco plans to offer a another smaller placement of carbon credit certificates based on overwhelming demand in yesterday's auction which was over-subscribed by four-fold with demand for nearly 24M tons by European energy companies and utilities to comply with emission regulations and avoid fines. The certificates auctioned on Thursday were linked to nine projects, representing 5.8M tons of carbon from the Company's entire portfolio of 151M tons. Former U.S. Vice President and environmental advocate Al Gore's Generation Investment Management is a major shareholder of Camco with a 10% stake .
Camco International +11.6%
Clean Energy Fuels + 19.7%
iPath Global Carbon ETN (GRN) +4.1%
PowerShares Clean Energy ETF (PBW) -1.1%
U.S. Oil Fund (USO) +0.9%
U.S. Natural Gas Fund (UNG) +0.2%
Camco plans to offer a another smaller placement of carbon credit certificates based on overwhelming demand in yesterday's auction which was over-subscribed by four-fold with demand for nearly 24M tons by European energy companies and utilities to comply with emission regulations and avoid fines. The certificates auctioned on Thursday were linked to nine projects, representing 5.8M tons of carbon from the Company's entire portfolio of 151M tons. Former U.S. Vice President and environmental advocate Al Gore's Generation Investment Management is a major shareholder of Camco with a 10% stake .
$0.565 (08/29/08)
