Green Earth Group N.V. ("Green Earth" or "the Group") (Euronext: EARTH, ISIN: NL0009169515), a leading end-to-end developer of nature-based solutions, announces that it has entered into a long-term Verified Emission Reduction Purchase Agreement ("VERPA") with a leading international energy company for carbon credits generated by its Bulindi Agroforestry and Chimpanzee Conservation Project in Uganda.
The Bulindi Agroforestry and Chimpanzee Conservation Project is a Gold Standard registered project in Western Uganda focused on agroforestry, ecosystem restoration, biodiversity conservation, and community development. Its work to restore and protect critical chimpanzee habitat was featured in the BBC's Planet Earth III series, narrated by Sir David Attenborough.
Under the VERPA, the buyer has committed to purchasing 262,400 verified carbon credits for delivery between 2027 and 2031, representing approximately $4.8 million (USD) in contracted future sales. The buyer has also paid a $141,600 premium for the option to purchase up to an additional 566,400 carbon credits through 2035. If the option is exercised in full, the total potential value of the agreement would increase to approximately $16.3 million, including the option premium.
Selwyn Duijvestijn, Chief Executive Officer of Green Earth, commented: “This agreement takes Green Earth’s total sales pipeline to more than €50 million. Bulindi is now the second project in our portfolio to secure a substantial long-term offtake agreement and the third to secure multi-million contracted sales. As we accelerate the commercialisation of our wider project portfolio, we expect the other projects in our pipeline to follow, while maintaining a clear focus on successful implementation, verification, and delivery.”
Green Earth utilises two primary commercial models to finance and monetise its project portfolio.
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Forward sales (prepayment): Buyers commit to future carbon credit deliveries and make payments upfront before credits are issued.
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Payment-on-delivery offtake agreements: Buyers commit today to purchase future carbon credits, but payment occurs only after credits have been independently verified, issued and delivered. This agreement falls within this category.
This agreement follows a period of significant commercial progress for Green Earth.
Earlier this year, Green Earth announced a similar substantial long-term offtake agreement for its Mount Kenya Regenerative Agroforestry Project in Kenya. That agreement covers more than 1.5 million projected carbon credits and has an indicative contract value of approximately €35 million.
Green Earth also reported record commercial performance during Q1 and Q2 of 2026. Its sales order book reached €41.5 million as of 30 June 2026, comprising €5.9 million in prepaid contracted sales and €35.6 million in contracted sales on delivery. During the first half of 2026, the Group secured approximately €4.1 million in prepaid contracted sales, around twice the prepaid sales achieved across the previous five years combined.
This new agreement adds approximately $4.8 million in firm contracted future sales to the Group’s existing order book. In addition, the paid option, if exercised in full, could increase the total potential value of the new agreement to approximately $16.3 million.
Frequently asked questions
What is a long-term offtake agreement, and how does the payment structure work?
A long-term offtake agreement is a binding purchase agreement under which a buyer commits to purchase future carbon credits from a project once they are independently verified and issued. This specific contract utilises a payment-on-delivery model. This means Green Earth secures future demand and revenue, but the buyer only pays after the credits have been officially verified by the Gold Standard and delivered. This model allows Green Earth to build a highly predictable, diversified commercial pipeline without taking on premature financial risk.
What is the total financial value and volume covered by this agreement?
The agreement secures a firm volume of 262,400 verified carbon credits to be delivered between 2027 and 2031, representing $4.8 million in future contracted sales.
Additionally, the contract includes option volumes allowing the buyer to purchase up to 566,400 extra carbon credits through 2035. If the buyer exercises all options, the total potential value of this contract scales to approximately $16.3 million (including option premiums).
Why is the name of the international energy company not disclosed?
While Green Earth prioritises transparency regarding contract volumes, project locations, and financial metrics, specific buyer names are occasionally withheld due to commercial sensitivities and strict contractual confidentiality clauses. This allows both parties to execute large-scale, multi-party environmental investments while protecting proprietary market positions.
When are the first carbon credits from the Bulindi Project expected to be issued?
Based on the current project monitoring, growth rates, and Gold Standard certification timeline, the first deliveries and corresponding revenue generation are scheduled to begin in 2027, running through the firm contract period to 2031 (and up to 2035 if options are exercised).
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About Green Earth
Green Earth is an end-to-end project developer of high-quality, large-scale nature-based solutions accredited by leading standards. The company is driven by a mission to make regeneration scalable and investable for people and the planet. Green Earth’s projects enhance biodiversity, restore ecosystems, and improve community livelihoods worldwide. Green Earth oversees the full project lifecycle, from initial design to long-term monitoring and credit issuance, ensuring integrity and transparency at every stage.
The company’s global team of specialists combines world-class expertise with a local presence to deliver measurable environmental and social outcomes that enable businesses and governments to achieve net zero while creating lasting economic value. Green Earth Group is publicly listed on Euronext Amsterdam under the ticker symbol AEX:EARTH and ISIN code NL0009169515. www.green.earth
Contact for press enquiries
For more information, please contact:
GREEN EARTH
press@green.earth
+31320788118
Or visit: https://www.green.earth
Disclaimer
This press release qualifies as a disclosure within the meaning of Article 17 paragraph 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) and contains inside information within the meaning of Article 7 paragraph 1 MAR. 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.
