Adelaide-based carbon management company Carbon Planet, headed by regular Anthill contributor Dave Sag, is to merge with Melbourne-based telecommunications and investment company m2m Corporation Ltd.
Sag established Carbon Planet with Dr Ross Williams in 2000 to help businesses quantify the risks and explore the opportunities emerging in the carbon constrained economy.
It has since gone on to pursue a greater and more global ecological agenda in providing scientific and certification services that result in the awarding of carbon credits. It does so with its market mechanism entitled, ‘Reducing Emissions from Deforestation and Degredation’ (REDD). Carbon Planet’s predominant business is developing projects that protect the world’s rainforests.
Telecommunications investor m2m has a number of investments in the high-growth Asian region and a leading investment in ‘Bluefish’ technology that produces high and standard definition video cards and technology for the film and broadcasting industries, including clients such as Sony PCL and Channel 7.
The merged entity between m2m and Carbon Planet will have initial market capitalisation of more than $117 million and will make it the first Australian listed entity providing full services in carbon trading activities.
It will also mean that Carbon Planet becomes an (almost) 60 percent shareholder through the issue of 464m m2m shares.
