Environmental services company CO2 Group Ltd
(ASX:COZ) says it will expand into New Zealand in June this year.
The move into New Zealand follows the passing of the New Zealand Emissions Trading Scheme which will be introduced from July 1, 2010.
CO2 says it has formed a partnership with Maori commercial development company Tukia Group and New Zealand based investment and advisory firm Carbon & Energy Partners.
The company says a key feature of the New Zealand ETS is the ability to generate and sell carbon credits into the international carbon market which in 2009 had a market value of US$143 billion.
The partnership will trade in New Zealand under the name CO2 New Zealand, with CO2 holding a 45% interest, and Tukia Group and Carbon & Energy Partners with the other 55% stake.
CO2 booked a profit for fiscal 2009, although down on the previous year’s result.
