– Greenpla, a Gyeonggi-based Environmental SME, Enters into MOU with CDM Stater, an Organization Specialized in CDM in Shandong

Gyeonggi Province has announced that Greenpla (CEO Song Jin-ho), an Gyeonggi-based environmental SME, recently advanced into the CDM industry by winning a contract to supply nitrous oxide (N2O) emissions reduction technology to Shandong, China.

From 2004 to 2006, Greenpla focused on the development of catalytic technology for the reduction of N2O emissions, one of six greenhouse gases, and its technology was recognized by the Korea Institute of Environmental Science and Technology in October 2007.

Since January 2008, Gyeonggi Province has made several proposals for the transfer of this technology to CDM Starter, a governmental organization specializing in CDM in Shandong, China. In February 2008, Gyeonggi Province officials, members of Greenpla, and CEO Seo Dong-gyun of UPC, a Korean consulting firm dedicated to CDM consulting, visited Shandong to give a technology presentation.

All parties have collaborated to reach an agreement on technological cooperation, which culminated in the recent visit to Shandong by representatives of Greenpla and UPC to enter into an MOU for technological cooperation in the reduction of nitrous oxide emissions with CDM Stater. This marks the first time that Korean nitrous oxide reduction technology has been exported to an overseas CDM market.

During 2008, Greenpla will supply facilities built with its technology to reduce emissions to two nitrous oxide plants located in Shandong, China. The annual economic benefits of the certified emissions reduction resulting from the annual nitrous oxide reduction of 1,000 tons (310,000 tons of carbon dioxide) will reach KRW 6 billion.

As the contribution of nitrous oxide to global warming is 310 times of that of carbon dioxide the economic benefits from certified emissions reduction through the reduction of nitrous oxide emissions are enormous.

As an official from Gyeonggi Province said, “As China emits a massive volume of greenhouse gases, emissions reduction companies from advanced European nations and Japan are now competing to enter the Chinese market. The recent achievement of Greenpla is particularly meaningful in the sense that a small company from Gyeonggi Province was able to prevail in fierce competition with these established global companies based primarily on its technological competency.”