LONDON (ShareCast) - Shares in Camco Clean Energy rose sharply on Thursday after the company said it has reached a deal to sell its US carbon credit portfolio for $2.24m.
The clean energy and energy storage company said that as part of the transaction, it has received an initial cash payment of $1.74m. Additionally, Camco may receive a deferred and conditional payment of up to $0.5m by 31 December 2015.

The deal has been signed with an unnamed major multinational corporation and will see Camco assign the buyer its rights to the future stream of certain California Cabon Offsets generated between 2015 and 2020 from the majority of Agricultural Methane projects that it manages on behalf of its dairy partners.

Chief executive officer Scott McGregor said: "This is a landmark transaction and we believe it to be the first of its type in the California Carbon Offset market underpinning our expertise in the area."

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