Green Earth Group N.V. (“Green Earth” or “the Group”) (Euronext: EARTH: NL0009169515), a leading end-to-end project developer of nature-based solutions, entered into a binding sales agreement with a large international buyer for the future delivery of up to 100,000 carbon credits from its Hongera Energy Efficient Cookstoves Project in Kenya (“Project”). Based on the commercial terms agreed, the transaction represents a value exceeding €1 million, subject to final certification and delivery.
Payment and delivery under the agreement are contingent upon the Project achieving full CORSIA eligibility (Carbon Offsetting and Reduction Scheme for International Aviation). Delivery is scheduled for 30 September 2026. The buyer may extend this deadline by up to 12 months should the CORSIA eligibility process at government level still be pending. This reflects standard practice for compliance-linked carbon transactions, which must align with independent certification and regulatory approval timelines.
Credits issued under the Gold Standard are fully recognised as verified carbon credits. However, compliance programmes such as CORSIA require an additional eligibility step. After issuance, a separate assessment is conducted to confirm that credits meet CORSIA requirements, including integrity checks and a Letter of Authorisation (“LoA”) from the host government. Green Earth has completed all project-level requirements and is currently awaiting the LoA from the Government of Kenya, the final step before CORSIA recognition can be granted.
The Project began development in March 2022, achieved Gold Standard validation in May 2024, and completed its first issuance of 49,000 carbon credits in December 2024. The next issuance is expected between now and February 2026 based on current monitoring and verification schedules.
Chief Executive Officer Selwyn Duijvestijn remarked:
“A project of this scale must move through a defined multi-year sequence of development steps—design, validation, verification, and issuance. Our cookstove project has progressed through each of these stages exactly as planned. Now issuing fully verified credits, securing forward sales is the natural next milestone in its commercial rollout. As we complete the final requirements for CORSIA eligibility, this project is positioned to become a reliable supplier of high-integrity, Gold Standard credits to the aviation market.”
This agreement complements the Group’s broader carbon project portfolio. In September 2025, Green Earth launched the Sauki Cookstove Project in Nigeria, which is also expected to generate CORSIA-eligible credits once issuance begins.
Green Earth will continue to inform the market of material developments in accordance with the EU Market Abuse Regulation (MAR) and other applicable regulatory requirements.
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Disclaimer
This press release does not contain an (invitation to make an) offer to buy or sell or otherwise acquire or subscribe to shares in Green Earth and is not an advice or recommendation to take or refrain from taking any action. This press release contains statements that could be construed as forward-looking statements, including about the financial position of Green Earth, the results it achieved and the business(es) it runs. Forward-looking statements are all statements that do not relate to historical facts. These statements are based on information currently available and forecasts and estimates made by Green Earth’s management. Although Green Earth believes that these statements are based on reasonable assumptions, it cannot guarantee that the ultimate results will not differ materially from those statements that could be construed as forward-looking statements. Factors that may lead to or contribute to differences in current expectations include, but are not limited to: developments in legislation, technology, tax, regulation, stock market price fluctuations, legal proceedings, regulatory investigations, competitive relationships and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of Green Earth are discussed in the annual report. The forward-looking statements in this document speak only as of the date of this document. Subject to any legal obligation, Green Earth assumes no obligation or responsibility to update the forward-looking statements contained in this document, whether related to new information, future events or otherwise. The provision of Green Earth’s services and products is subject to its General Terms and Conditions.
