Camco buys out Chinese joint-venture

Camco has completed the acquisition of a 49% minority interest in ESD Sinosphere, the Chinese subsidiary of Energy for Sustainable Development (ESD), for US$246,823. Camco acquired its initial 51% stake in the Chinese venture via the purchase of UK-based consultancy ESD in May 2007 (EA Newslink).

ESD Sinosphere provides technical due diligence, emissions assessments, carbon management and sustainable development advisory services in China. Camco CEO Jeff Kenna comments: "The purchase of the minority interests demonstrates Camco's ongoing desire to grow our Chinese operations. We have continued to see the benefits of a global consulting platform with a range of new opportunities emerging."

In the year ending 31 December 2007, ESD Sinosphere earned a pre-tax profit of US$160,942. The transaction places a value on the business of US$603,721, or which US$100,000 is debt.

Camco is focussed is the provision of carbon-related services, with three main business segments: Camco carbon assets (a project developer with one of the world' largest carbon credit portfolios), Camco consulting practice (consisting of Bradshaw, ECCM, ESD and ESD Sinosphere) and Camco ventures (which works with project developers, early stage businesses and investors to commercialise climate change mitigation technologies, projects and services).

• News release