DGB Group N.V. (“DGB” or “the Group”) (Euronext: DGB: NL0009169515), a leading carbon project developer and ecosystem restoration company, in collaboration with project partner the Bulindi Chimpanzee & Community Project, successfully received certification and registration from the Gold Standard for its Bulindi Agroforestry and Chimpanzee Conservation Project in Uganda, Project ID GS 12226 (“the Project”). By completing the validation phase, the project is now eligible to claim verified carbon units over its lifetime.
Key highlights
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Project scope: The Project is implemented in Uganda’s Budongo–Bugoma Corridor. This large-scale, nature-based initiative aims to restore degraded habitats, plant trees, and enhance biodiversity while providing sustainable livelihoods for local communities. The Project is dedicated to protecting the critically important Bulindi chimpanzee population, which faces increasing threats from habitat loss and human-wildlife conflict. The chimpanzee conservation project featured on BBC’s Planet Earth III, narrated by the iconic Sir David Attenborough, spotlighting the extraordinary journey of the Bulindi chimpanzees in Uganda. The episode, which premiered on 19 November 2023, explores the interconnected world of forests and highlights the crucial reforestation and conservation efforts of the project.
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Expected units: The Project aims to plant over 31.5 million trees and bushes across 22,700 hectares, capturing a total of 10.1 million tonnes of CO₂ over the Project’s lifetime, producing an estimated average of 241,000 high-quality Afforestation/Reforestation (AR) carbon units annually.
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Unit sales: On 19 October 2023, DGB entered into an option agreement with a leading car manufacturer for the sale of 240,000 carbon units from this Project. Following payment of the €40,000 option premium and the exercise of the option in January 2024, the buyer ultimately did not proceed with the purchase. While DGB retains full legal rights under the agreement, the Board of Directors is currently evaluating the most commercially appropriate course of action. DGB retains full ownership of all anticipated carbon units from the Project and anticipates achieving a more favourable price.
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Timeline and prospects: The feasibility study was finalised in Q2 2022 with the first planting season in 2023. 530 hectares have now been planted. An additional 275 hectares will be planted this season, and another 275 hectares are planned for Q3 and Q4, bringing the total to 1,080 hectares planted by the end of 2025. DGB is dedicated to scaling the Project’s impact through maximised tree-planting efforts, aiming to reforest as much of the designated area as possible in the coming years. The first issuance of verified carbon units is projected for 2027, encompassing all vintages accrued since the Project's initiation.
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Valuation and risk: As of 30 June 2024, the total value of DGB’s project pipeline reached €29.55 million (+24.8% year-on-year (“YoY”) growth). The Group's total asset value rose to €34.93 million (+19.7% YoY growth), bringing DGB’s net asset value (NAV or ‘book value’) per share to €2.31. The successful validation of the Project lowers its risk parameters, raising the Project’s estimated total asset value—adjusted for risk—from €12.65 million to €17.68 million, increasing the asset value per share by €0.3720.
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Scale and funding: Following the validation of the Project, DGB will now actively engage with carbon credit buyers to scale its impact. At this stage, every €1 million investment enables the planting of approximately 2,317 hectares, generating an average of 26,670 carbon units annually—totaling 1,066,799 units over a 41-year project lifetime. Operationally, DGB is ready to deploy up to €5 million immediately for planting activities scheduled in the second half of 2025 and the first half of 2026. With adequate planning, the Project can absorb an additional €5 million later in 2026 from investors to join a high-integrity, scalable carbon initiative with measurable long-term returns.
Project issuance profile
Since initiating its first project in 2020, DGB has expanded to oversee a portfolio of large-scale projects under management and in operation. Given the two to six-year design, development, and financing period required before projects begin generating carbon units, DGB is now entering the revenue-generating phase. DGB’s first carbon units from its own pipeline were issued in December 2024. For further details on our active projects and development pipeline, please refer to our Projects page and Pipeline page.
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Contact for press enquiries
For more information about DGB's initiatives, please contact:
DGB GROUP NV
press@green.earth
+31320788118
Visit our website: https://www.green.earth/
About DGB
DGB is a project developer of high-quality, large-scale carbon and biodiversity projects accredited by third parties. The Group is focused on nature conservation and helping biodiversity flourish by assisting governments and corporations in achieving net zero. Global megatrends drive the demand for carbon units and underpin growth opportunities. DGB GROUP NV is a public company traded on the main Dutch stock exchange Euronext Amsterdam under the ticker symbol AEX:DGB and ISIN code NL0009169515. www.green.earth
About the Bulindi Chimpanzee & Community Project
The Bulindi Chimpanzee & Community Project (BCCP) is dedicated to conserving chimpanzees where they live alongside village farming communities, outside formally protected areas. The project was established in response to the urgent conservation situation facing wild chimpanzees regionally. Their approach recognises that sustainable coexistence between people and chimpanzees is possible only by enhancing the lives of local people substantially. They support communities living in chimpanzee habitat zones through various integrated conservation and development benefits that address people’s priorities, in parallel with the conservation of chimpanzees and their habitat. To learn more, visit https://bulindichimpanzees.org/
Disclaimer
This press release does not contain an (invitation to make an) offer to buy or sell or otherwise acquire or subscribe to shares in DGB and is not an advice or recommendation to take or refrain from taking any action. This press release contains statements that could be construed as forward-looking statements, including about the financial position of DGB, the results it achieved and the business(es) it runs. Forward-looking statements are all statements that do not relate to historical facts. These statements are based on information currently available and forecasts and estimates made by DGB’s management. Although DGB believes that these statements are based on reasonable assumptions, it cannot guarantee that the ultimate results will not differ materially from those statements that could be construed as forward-looking statements. Factors that may lead to or contribute to differences in current expectations include, but are not limited to: developments in legislation, technology, tax, regulation, stock market price fluctuations, legal proceedings, regulatory investigations, competitive relationships and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of DGB are discussed in the annual report. The forward-looking statements in this document speak only as of the date of this document. Subject to any legal obligation, DGB assumes no obligation or responsibility to update the forward-looking statements contained in this document, whether related to new information, future events or otherwise. The provision of DGB’s services and products is subject to its General Terms and Conditions.
