Sofame mixes equipment making with carbon trading

Montreal, Canada-based heat-recovery equipment maker Sofame Technologies (TSX: SDW) said today it's seeking carbon credits based on its equipment's energy savings as a way to improve the return-on-investment for customers.

Sofame has established Sofame Carbon, a carbon credit division, enlisting the help of Torys, PricewaterhouseCoopers, ClimateCheck, and the Eco-Conseil Chair of UQAC. The division expects to receive carbon credits based on the equipment's energy-saving abilities and then pass those savings along to customers. Grouping the carbon credits under the Sofame umbrella would produce savings through economies of scale, the company said.

The company said the certification of investment-grade carbon credits would help customers maximize the benefits of the energy-saving equipment.

"Carbon saved is money earned," said Tom Baumann, CEO of ClimateCHECK, in a release. "Their clients stand to benefit directly through the leadership and innovation Sofame is demonstrating by bringing this top-notch team together to assist their new carbon credit division." 

Sofame, which stands for Solution for Achieving Maximum Eco-efficiency, said its products can extract up to 99 percent of heat from flue gases depending on the application, as well as from wastewater, and return the energy in the form of high temperature hot water or pre-heated make-up air.

The company has installed its units at a number of hospitals, universities and airports, including Trudeau International Airport in Montreal (see Cleantech on display in Brussels). Sofame estimates that each project typically saves 10,000 tons of carbon.

Sofame Carbon plans to work with customers to document and aggregate certified carbon credits over a number of years, and then share any gains with customers. Eventually, the company plans to bring the carbon credits to market.

The company said the plan takes advantage of the opportunities to monetize NOX reductions and carbon offset credits, as well as the forthcoming climate change legislation in the United States and Canada (see Obama administration could fast track cap-and-trade, RPS in '09 and Does Obama's win spell victory for ethanol and carbon trading?).

"We are encouraged by the renewed emphasis on energy efficiency as a way to conserve finite fuel resources and to protect the environment by reducing greenhouse gas emissions," Sofame CEO John Gocek said in a release.