Sustainable forest management company and REDD+ project developer Amazonas Florestal Ltd on Tuesday said it had completed the acquisition of Earth Pass LLC, which owns 64,000 acres of Brazilian forest eligible for carbon credits.
The deal included a wood products division called Amazon Sustainable Development Corp., Miami-headquartered Amazonas Florestal said in a statement.
“Amazonas Florestal, through its new subsidiary ASD, can now officially begin work on the studies that will certify the carbon credits available on the ASD properties. All of the necessary vehicles are now in place to begin the studies in February,” said Ricardo Cortez, the company’s chairman.
“This opens many potentially lucrative doors in the large Brazilian nation. We have already been contacted by a number of agencies requesting information and offering project ideas to begin our carbon studies next month,” added company IRO J.C. Ubieto.
Amazonas Florestal is also involved in the growth, harvesting, research and development of industrial hemp and related products in the US.