Co-founder and non-executive director of European Green Transition PLC, Cathal Friel, informed in an interview with a media house about an agreement signed to investigate the potential to develop a peatland carbon sink programme in Ireland.
European Green Transition has taken on around 1,370 acres of peatland at the Altan farm in Donegal, Ireland. The company aims to generate carbon credits by rewetting the land and monetizing the credits. Friel emphasised that the method is less capital-intensive and has significant growth potential.
The company aims to front-load the work and share the revenue with landowners instead of directly purchasing the land. The model is expected to produce revenue from the first year and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) by the second year.
Following EGT’s IPO in April, Friel noted the company’s aim to double its share price within the first year and triple it within 18 months. The share price has increased by 68% since the IPO.
Watch full interview https://www.europeangreentransition.com/proactive-interviews-cathal-friel-about-egts-new-peatland-carbon-sink-programme/