FARMINGDALE, N.Y.--(BUSINESS WIRE)--Cemtrex, Inc. (NASDAQ:CETX) (www.cemtrex.com) today announced that the company sees favorable business opportunities with new global initiatives on cap and Trade Program to curb carbon emissions.
During the past several years we had developed VAMOX technology to economically control Greenhouse gases emissions and generate carbon credits; however the regulatory climate was not there to fully exploit the business potential of this proprietary technology
Recently, Chinese President Xi Jinping and U.S. President Barack Obama jointly made an announcement to reach a global carbon emissions agreement at the Paris climate negotiations in December. The U.S. and China are the top greenhouse gas emitting nations in the world.
"During the past several years we had developed VAMOX technology to economically control Greenhouse gases emissions and generate carbon credits; however the regulatory climate was not there to fully exploit the business potential of this proprietary technology," said Saagar Govil, Chairman and CEO of Cemtrex. "We are very excited with these new global initiatives and renewed emphasis to curb carbon emissions," continued Mr. Govil.
China plans to launch the world s largest emissions trading program in 2017, creating a carbon credits market for power, steel, cement, coal mines and other industries generating the most greenhouse gas emissions. The program is designed to complement USA s Clean Power Plan, which was finalized in August and is expected to reduce global carbon emissions from power plants by 32 percent by 2030.
Cemtrex, Inc. (NASDAQ:CETX) is a world leading diversified industrial and manufacturing company that provides a wide array of solutions to meet today's technology challenges. Cemtrex provides manufacturing services of advanced custom engineered electronics, monitoring instruments for industrial processes and environmental compliance, and systems for controlling particulates, hazardous gases, emissions of Greenhouse gases, and other regulated pollutants used in emissions trading globally.
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