TFS Energy Brokers First Approved CDM Project by Singaporean Designated National Authority
NEW YORK, November 6, 2007 – TFS Energy, LLC, a subsidiary of Compagnie Financière Tradition and a leading Certified Emission Reductions (CER) broker in Southeast Asia and China, has brokered the first Clean Development Mechanism (CDM) project approved by Singaporean Designated National Authority (DNA). The project is between Kansai Electric Power Co. Inc. (the leading electric power company in Western Japan) and Bee Joo Industries Pte Ltd, a wholly-owned subsidiary of ecoWise Holdings Limited (a Singapore-based integrated environmental solutions provider listed on SESDAQ). Kansai will initially purchase CERs from a thermal energy recovery project in Singapore and will later purchase up to 95,000 CERs over a period of five years from early 2008.
Although the project is expected to generate a relatively small volume of CERs, the deal is not only significant for being the first approved project in Singapore, but also for Kansai’s participation in the transaction, highlighting the vital support for smaller, good quality CDM projects from such a significant player in the market.
Inquiries
| Eric Klein, TFS Senior Environmental Products Broker | +1.212.943.2883 |
| Jennifer Van Hofwegen, TFS Head of Marketing and Communications | +1.212.791.6491 |
About Kansai Electric Power Co. Inc.
Kansai EP (www.kepco.co.jp/english/), headquartered in Osaka, Japan was established on May 1st, 1951 and is the leading electricity power company in Western Japan. As of March 31st, 2007 Kansai EP’s total consolidated assets were ¥682,720 million with consolidated operating revenues at ¥259,630 million. With over 29,000 employees, Kansai EP’s power generation facility capacity is derived from a diverse generation portfolio and totals 34.86M kW. In 2004, the company established its Corporate Social Responsibility (CSR) Action Charter with a strong emphasis on environmental issues.
About ecoWise Holdings Limited
ecoWise (www.ecowise.com.sg) was founded in 1979 and listed on SGX-SESDAQ in 2003. ecoWise Group is a Singapore based integrated environmental solutions provider whose strategy is focused on four key businesses – renewable energy, recovery of industrial materials, recycling of organic materials and provision of integrated environmental management solutions. The company is a member of the Waste Management and Recycling Association of Singapore (WMRAS), the Sustainable Energy Association of Singapore (SEAS) and the Singapore Water Association (SWA).
About TFS
Founded in 1985, TFS is a market leader in the brokering of financial and non-financial products. With offices worldwide, the Company covers currency options, equity and property derivatives, freight, precious metals, energy and pulp & paper markets. TFS Energy brokers a full spectrum of OTC energy and energy-related physical and derivative products, including electricity, natural gas, crude oil and refined products, coal, environmental products, weather derivatives, and exchange-traded futures and options. TFS Energy was awarded ‘Broker of the Year-Asia’ by Energy Risk in 2007. In the 2007 Energy Risk/Risk’s Commodity Rankings, TFS won 15 1st places. In Commodities Now’s 2006 broker rankings, TFS Energy was awarded ‘The Energy Broker of the Year’ for the second successive year. In Energy Risk’s 2006 commodity rankings, TFS Energy was ranked in 36 categories with nine No. 1 places. In Environmental Finance’s 2006 survey, TFS Energy won seven 1st places, including best broker in weather derivatives globally and best broker in four environmental products categories. TFS is a subsidiary of Compagnie Financière Tradition (CFT), one of the world’s top three interdealer brokers in financial and commodity-related products with a presence in 24 countries and 2,200 employees. CFT is listed on the Swiss Exchange (Symbol: CFT). For further information, please visit www.tfsenergy.com.