Green Earth Group N.V. (“Green Earth” or “the Group”) (Euronext: EARTH: NL0009169515), a leading end-to-end project developer of nature-based solutions, signed a non-binding exclusivity Letter of Intent (“LOI”) with a large international buyer for the future purchase of carbon credits from its Mount Kenya Regenerative Agroforestry Project in Kenya (the “Project”). The intended agreement represents a multi-year offtake arrangement with a material commercial value, in line with the Group’s strategic objectives.
Under the LOI, the prospective buyer receives exclusive rights to negotiate a long-term Emission Reduction Purchase Agreement (“ERPA”) with Green Earth until 31 March 2026. During this period, Green Earth will not engage in parallel discussions for a comparable transaction. Exclusivity frameworks of this kind are standard for large-scale environmental-credit procurements, where long-term delivery commitments require structured due diligence and detailed contractual preparation.
The Project began formal development in March 2022 and covers large-scale agroforestry and reforestation in the Mt Kenya and Aberdare regions. It achieved Verified Carbon Standard (VCS) validation and registration under Verra in October 2024, confirming that it has successfully passed the rigorous, independent assessment required to generate verified carbon units throughout its lifetime. The Project is now advancing towards its first issuance of credits in 2027, based on current monitoring and certification schedules.
The LOI relates to a long-term supply framework covering approximately 1.5 million projected carbon credits over the next 15 years, reflecting measurable climate and biodiversity benefits, including large-scale reforestation, enhanced ecological resilience, and long-term carbon sequestration. The agreement also includes an option for the buyer to increase contracted volumes if the project’s performance exceeds current expectations. Actual annual issuance will depend on independent verification outcomes and certification timelines.
While the LOI does not constitute a binding sales contract, it marks a significant commercial milestone in the Group’s efforts to establish long-term offtake agreements with reputable international buyers. Transactions of this nature involve multi-step certification processes, extensive due diligence, and structured contractual approvals, which inherently take time to complete.
Chief Executive Officer Selwyn Duijvestijn commented:
“Projects of this scale follow a defined, multi-year development cycle. We began building the Kenya reforestation project in 2022, achieved full VCS validation in 2024, and expect the first verified credits to be issued in 2027. Each stage requires careful preparation, independent assessment, and disciplined execution. With validation complete and issuance approaching, entering negotiations for a substantial multi-year offtake agreement is the logical next step. This agreement demonstrates that our disciplined, step-by-step approach is delivering exactly the kind of strategic outcomes we have planned for.”
The intended agreement supports the Group’s 12-month strategic plan published in June 2025. With an indicative value above €30 million, the potential transaction would exceed the Group’s contracted-sales target for the current strategic period. Successful conversion of the LOI into a binding ERPA would therefore mark a material acceleration of the Group’s commercial progress.
At this stage, and in line with market practice for early-stage negotiations of material transactions, the identity of the buyer and the detailed commercial terms are not being disclosed. These elements remain subject to ongoing negotiations, confidentiality arrangements agreed between the parties, and regulatory considerations, including ensuring that partial disclosure does not enable reverse-engineering of implied pricing or future issuance volumes. Green Earth will disclose additional information only when it is complete, accurate, and compliant with its obligations under the EU Market Abuse Regulation (“MAR”). Green Earth will provide further updates on the negotiation process and any material developments in accordance with its obligations under MAR and other applicable disclosure requirements.
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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.
