Hy-Drive enters GHG reduction credit trading market
TORONTO, ONT-With the formal launch of its ISO 14064 process-compliant greenhouse gas (GHG) reduction program, Hy-Drive Technologies is now in a position to facilitate the trading of GHG credits. The energy technology firm is working in partnership with Jomini Environmental, a consulting firm specializing in quantification of GHG emission reductions and removals through the ISO 14064 process. Jomini will be responsible for maximizing the GHG reduction credits obtainable from use of Hy-Drive's Clean Air Operating System(TM). Effective immediately, representative commercial trucks making full use of the Hy-Drive operating system are eligible to earn up to 16 tonnes of carbon dioxide equivalent (CO2e) reductions and removals for each year of operation. It is expected that the 16-tonne rating will be substantially increased as Hy-Drive and Jomini continue the validation and verification programs. The GHG reductions can be publicly traded on registered exchanges such as the European Union Emission Trading Scheme (ETS), where credits have traded as high as 34 euros ($45.77 U.S.) per 1,000 kg. The carbon removals can also be sold privately in wholesale agreements with larger consumers of petroleum fuel. Hy-Drive's patented hydrogen generating system generates and injects hydrogen gas into a regular internal combustion engine, enhancing the combustion process by allowing fuel to burn more efficiently and completely. More information is available on the companies' Web sites, www.hy-drive.com, www.jomini-international.com.