UK Investment Banking Group Climate Change Capital (CCC) and its funds have acquired the business and assets of US-based carbon project developer Quality Tonnes.

UK Investment Banking Group Climate Change Capital (CCC) and its funds have acquired the business and assets of US-based carbon project developer Quality Tonnes. The acquisition, for an undisclosed sum, gives CCC access to emission reduction projects in new carbon rich markets whilst also deepening its capacity to work in energy efficiency projects.

Quality Tonnes' two founders, Seth Baruch and Kevin James, are joining CCC. Quality Tonnes are specialists in analysing, developing and implementing projects that reduce greenhouse gases. They are also recognised as world leaders in identifying and developing new methodologies for reducing carbon emissions which are accepted and verified by the UN as part of the Kyoto Protocol.

CCC chief executive Mark Woodall said: "Quality Tonnes is one of the most productive of all the independent CDM methodology developers in terms of the number of approved methodologies and those under active review. Combined with CCC's existing capacity for innovation in high quality carbon asset creation, the acquisition puts CCC in a leading position in the carbon market as a high value partner for large industrial enterprises and investors in clean technology and sustainable energy systems."