LONDON (ShareCast) - Camco Clean Energy has sold off another slice of its carbon credit portfolio raising an initial $0.3m.
The group will receive a further deferred conditional payment of up to $0.4m by the year end.

It follows the first sale announced last month, which saw it receive an initial $1.74m together with up to a further $0.5m in conditional deferred payments.

Camco will also receive up to a further $1.0m over the period to 2020, depending on the delivery of California carbon offsets from a limited number of projects. It will retain its rights to credits generated after 2020 from all the projects included in the portfolio sale.

The company confirmed that it has decided to explore strategic alternatives for whether additional value can also be realised from the other US business activities.

"This would provide additional resource to enable further investment in Camco's other activities, namely REDT, its clean energy and storage business," it said.

That came as the firm also announced that its chief financial officer, Jonathan Marren, has acquired 178,041 shares at 5.32p a share.

The deal takes his interest in the group to 4.7m shares.

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