Brazil-based waste management specialist Orizon VR is in the final stages of offering CO2 offsets from its landfill projects for sale to the market during the next quarter of the year.
Orizon’s new projects are being driven forward
This announcement follows the completion of the transition of its carbon credits to the Gold Standard voluntary registry system at its waste deposit located in Joao Pessoa, in the state of Paraiba. Orizon’s expectation is to complete the commercialization of an estimated volume of 2 million tons of CO₂ equivalent (CO2e) at a price of between $6 and $7 per ton, in the second quarter.
[post_relacionado]In addition, the company is about to receive approval for carbon offsets generated at its other four landfills before the end of this year. During the past year, Orizon was able to produce offsets totaling 2.99 million tCO2e, which represents an increase compared to the 2.34 million tCO2e generated in 2022.
In preparation for these sales, Orizon has been accumulating carbon credits and is currently finalizing the details to be able to offer these offsets in the market over the next few years, once the projects have been officially certified by Gold Standard.
A significant provision in the sale of CO2 offsets
On the other hand, the company experienced a 28.28% increase in its biogas production during the last year, reaching 1.3 million cubic meters per day. A further increase in production is anticipated this year, after the company started operations at two additional landfills located in the states of Alagoas and Sergipe.
It also projects an increase in biomethane production with the start of renewable gas generation. renewable gas generation at its waste treatment plant in Jaboatao dos Guararapes, Pernambuco, later this year. at its waste treatment plant in Jaboatao dos Guararapes, Pernambuco, by the end of this year.
The company has entered into a supply agreement with Copergas, the Pernambuco gas distribution company, which is expected to come into effect by the end of the year. It should be noted that the biogas produced contains 50% methane, which can be processed into biomethane, a direct substitute for natural gas.
Finally, Orizon VR reported significant net revenues of approximately $9.9 million during 2023, marking a positive change from last year.
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Source and photo: Orizon Vr