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Link Capital, Circonomy and Eco-Solutise Sign MoU to Develop Biochar Project in Laos
Singapore, May 24, 2024 – Link Capital Pte Ltd, Circonomy Pte Ltd and Eco-Solutise Pte Ltd have entered into a Memorandum of Understanding (MoU) to jointly develop an artisanal biochar project in Laos. This project aims to valorise unused wood, produce soil amendments, and generate carbon credits to support tree planting activities and local communities.
The primary objective of this collaboration is to leverage on the combined expertise of Link Capital, Circonomy and Eco-Solutise to develop a long-term sustainable biochar project in the agarwood industry.
This initiative will focus on the development of carbon credits that includes the exchange of knowledge and expertise, implementation, certification, compliance documentation, educational training, and monitoring of the biochar projects in Laos, certified under the Global Artisan C-Sink framework from Carbon Standards International.
The biochar project will be developed using residues from Link Capital’s Agarwood plantation in Laos. The biochar produced will be inoculated with nutrients to create soil amendments, generating carbon credits to subsidize production and support local communities.
Link Capital will provide the biochar production site, feedstock with full implementation, and manage the operations to ensure ground production processes, including the sourcing of feedstock and biochar commercial distribution.
Circonomy is responsible for project registration and certification, knowledge sharing, training, monitoring, and marketing the sale of carbon credits, including technical-economic assessments, project registration-certification, and biochar production training.
Eco-Solutise will coordinate internal compliance among all the parties and stakeholders, ensuring the smooth development and implementation, including project governance, risk management, stakeholder engagement, and compliance with local and international regulations.
This MoU signifies a strong commitment to sustainable development and environmental stewardship among the three parties, with the aim to foster long-term partnerships and create a positive impact on local communities and our environment.
SOURCE: Circonomy
