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Dutch Green Business Group N.V. (Euronext: DGB, “DGB” or “the Group”), announces its end of year operational statement and Q4 trading update. DGB is a leading provider of verified emission reductions (“VERs”). Verified emission reductions are also commonly known as carbon offsets, carbon credits, or carbon offset credits. Each verified emission reduction represents one metric tonne of carbon dioxide equivalent emissions (mtCO2e).
The fourth quarter has seen a period of continued momentum as the Group pursues its strategic objective of becoming a leading high-impact investor in sustainably managed nature projects that generate VERs. DGB now holds over 13 million tons of VERs in its project pipeline making it the largest project developer of tradeable VERs in The Netherlands.
Selwyn Duijvestijn, Chief Executive of DGB, said:
“We are immensely proud of what DGB has achieved this year. Following increased awareness generated by COP26 of the net zero agenda, we have seen unprecedented demand for carbon credits which are being purchased by companies as quickly as they are being originated”.
With not enough ecosystem restoration taking place to satisfy the demand for carbon offsets to counter the 5 billion trees that are being destroyed every year, it’s vital corporates participate in efforts to increase the number of reforestation projects which will help to meet their net zero targets. Progress seen through the projects in Sierra Leone, Paraguay, Kenya and Cameroon are helping prevent deforestation and to deliver reforestation at scale.”
DGB is continuing to deliver impactful projects on the ground and generate returns for its shareholders. We are looking forward to building on this progress in 2022.”
Melissa Lindsay, CEO of Emstream who facilitates large carbon offset transactions, said:
“Prices for carbon offsets rallied this year and the outlook remains exceptionally bullish with an ever growing number of corporate pledges to net zero and demand for carbon neutral commodities. Ahead of the curve, DGB is one of the few project developers playing a crucial role in helping companies meet their climate goals through its portfolio of scalable, high quality reforestation projects which focus on biodiversity.”
Increase in binding offtake agreements
Target of 6 million carbon offsets achieved
Project milestones
Initiated €4.5 million Convertible Green Impact Bond fundraise
Launch of carbon calculator - CO2.expert
Launch of new retail platform - Corekees
Finance and Corporate Governance related matters:
Under the condition that the shareholders will vote in favour of the proposal to amend the Articles of Association of the Company which results in an extension of the reporting period to 18 months until 30 June 2022, we list below a number of financial highlights.
To inform the market in more detail about the financial position and performance of the company, second semi-annual interim financial statements will be issued within 3 months after the second semester ending on 31 December 2021.
The offtake agreements concluded in the second semester of 2021 will lead to a cash inflow upon delivery or retiring of the Verified Emission Reduction. This is expected in the third semester of the reporting period 2021/2022. At the same time the revenue is expected to be recognised.
The calendar year 2021 has been a year of investing in the development of the company. Most investment has been made in software development, market development and structuring the Group. These investments have been financed by the second tranche drawdown under the investment agreement signed between the Company and a consortium of Dutch-based accredited investors. After this second drawdown the agreement has been terminated with mutual understanding.
The Company has established in the second semester three 100% subsidiaries which are also representing the lines of business which reflects the strategy of the Company:
Furthermore the acquisition of Static Corporation BV has been closed in the second semester of 2021 and as a result control has been transferred. The Purchase Price Allocation is in progress and will be included in the second semi-annual interim financial statements.
During the Annual General Meeting of 15 September 2021 two non-executive Board Members have been appointed. With the appointment of Ms. van der Meulen and Mr. den Hartog the composition of the Board is in accordance with most of the Corporate Governance rules applicable in the Netherlands.
DGB continues to participate in the global discussion around the best way to value the price of carbon offsets - alongside leading accountancy firms - including their impact in contributing towards biodiversity and societal impact on the ground where reforestation projects are being developed.
Outlook:
Links:
Selwyn Duijvestijn, CEO
DGB GROUP N.V.
press@dgb.earth
+31 (0) 20 8080825 (NL)
+44 (0) 20 8064 0936 (EN)
Dutch Green Business Group N.V. is a public company traded on the main Dutch stock exchange Euronext Amsterdam under the ticker symbol AEX:DGB and ISIN-code NL0009169515. DGB’s strategy is to participate in large forest carbon offset projects around the world that deliver commercial and environmental benefits. DGB’s vision is to be a leading high-impact investor in sustainably managed forests by providing competitive real investment returns for shareholders combined with high social impact. www.dgb.earth.
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 Group N.V. 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 with regard to the financial position of the DGB Group, the results it achieved and the business (ies) it runs. Forward-looking statements are all statements that do not relate to historical fact. These statements are based on information currently available and on forecasts and estimates made by DGB Group management. Although the DGB Group 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 Group 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 to do so, the DGB Group assumes no obligation or responsibility to update the forward-looking statements contained in this document, whether related to new information, future events or otherwise.
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