LOS ANGELES BOYERTOWN, Pa. — Rentech Nitrogen Partners, L.P. (NYSE: RNF) and ClimeCo America Corporation (ClimeCo America) jointly announced today that ClimeCo America will deliver 120,000 Climate Reserve Tonnes (CRT) to Just Energy (NYSE:JE and TSX:JE), a leading competitive North American green energy retailer. Measured as a unit of offset credits used by the Climate Action Reserve (CAR), one CRT is equal to one metric ton of greenhouse gases reduced or sequestered. The carbon credits will be delivered to Just Energy by ClimeCo over a five-year period.
The carbon credits will be generated by Rentech Nitrogen as part of North America’s first voluntary tertiary Nitrous Oxide (N2O) abatement system constructed at the plant in East Dubuque, IL in the summer of 2011 under the leadership of ClimeCo America and Rentech Nitrogen. Nitrous oxide (N2O) has a Global Warming Potential (GWP) of 310 versus carbon dioxide with a GWP of one. Every ton of N2O destroyed by Rentech Nitrogen’s abatement system generates 310 tons of carbon dioxide equivalent credits (carbon credits).
The abatement system was developed according to the high standards of the Climate Action Reserve Nitric Acid Protocol, which enables Rentech Nitrogen to decrease its carbon footprint while producing nitrogen fertilizer. CAR issues an identification number to each credit to record information such as the source of generation and the issuance date.