Press Release Source: GS Carbon Trading, Inc.
TerraPass and Expedia Partner to Bring Travelers Carbon Balanced Flight Tuesday October 17, 9:54 am ET
NEW YORK--(BUSINESS WIRE)--GS Carbon Trading, Inc. (OTC Bulletin Board: DRVW - News) announced that its TerraPass division teamed up last month with Expedia (NASDAQ: EXPE - News) to decrease the amount of carbon emissions released into the environment from air travel.
ADVERTISEMENT Air travel generates as much as 10% of the total U.S. transportation-based emissions of carbon dioxide, which is the primary greenhouse gas responsible for global warming, according to the U.S. Department of Transportation Center for Climate Change and Environmental Forecasting.
Air travel is a major source of the greenhouse gas emissions that contribute to global warming. A single cross-country plane flight burns about 100 gallons of fuel per passenger and generates about 1 ton of carbon dioxide per passenger. That's as much as most people use in four months of driving.
Expedia and TerraPass have partnered to offer consumers "passes" to help offset the greenhouse-gas emissions caused by their travel. For a round-trip cross-country flight of about 6,500 miles, a TerraPass costs about $17. Expedia gives all of the sales directly to TerraPass, which invests in projects designed to decrease carbon emissions in other industries. TerraPass funds clean energy projects throughout the U.S., including wind farms and biomass energy.
The program enables consumers to balance out their "carbon footprint." By funding clean energy and conservation projects through Expedia and TerraPass, air travel consumers can sponsor a reduction in greenhouse gas emissions that is directly proportional to the emissions created by their plane flights.
How to Purchase
Expedia.com travelers can choose from three levels of TerraPass to purchase during the process of booking a flight or package, or as a standalone component on Expedia's Activities page (http://www.expedia.com/activities). Prior to checkout, Expedia customers are offered a chance to purchase a TerraPass that funds enough clean energy to balance out the carbon dioxide emissions caused by their flights.
Pricing starts at $5.99 per passenger to offset about 1,000 pounds of carbon dioxide, the approximate amount per passenger emitted during a 2,200 mile round-trip. A TerraPass to cover cross-country and international flights is $16.99 for up to 6,500 flight miles, and $29.99 for up to 13,000 flight miles. Travelers who purchase a TerraPass for cross-country or international flights will receive a luggage tag that indicates their contribution to green travel.
TerraPass is the leading consumer retailer of greenhouse gas reduction programs in the U.S. Thousands of individuals and businesses use TerraPass to balance out the global warming impact of their flying and driving. Collectively, TerraPass members have funded the reduction of over 150 million pounds of carbon dioxide emissions.
TerraPass' mission is to put practical tools for fighting climate change in the hands of ordinary citizens. Recognizing their success, last year Ford Motor Company chose TerraPass in a first-of-its-kind partnership to reduce greenhouse gas emissions. Now Expedia has picked TerraPass for another pioneering program dedicated to positive environmental action.
Only two years old, TerraPass has received a lot of attention for its innovative model and message, including stories in the New York Times, Business Week, USA Today, Wired Magazine, and on CBS.
TerraPass is committed to accountability and all TerraPass purchases are verified by the non-profit Center for Resource Solutions, the creator of the Green-e program, the leading U.S. certification standard for renewable energy. TerraPass is the only member of the industry to have a published verification report created by an independent third-party auditor.
Where the Money Goes
Through their purchases, TerraPass members fund several different kinds of projects, carefully chosen for their environmental benefit. For example:
* Ainsworth wind facility in Ainsworth, Nebraska. The plains states have a great natural resource that they've only begun to tap: abundant wind. For the past year, the 36 1.65-megawatt wind turbines in Ainsworth have been generating enough clean electricity to power 19,000 homes. * Haubenschild Dairy Farm in Princeton, Minnesota. Haubenschild produces 6,000 gallons of milk every day-and 21,000 gallons of cow manure. By harvesting the methane from this waste product, the farm is able to prevent the emission of a harmful greenhouse gas and create clean energy at the same time. * Chicago Climate Exchange. TerraPass supports industrial efficiency projects by purchasing and retiring carbon offsets on the Chicago Climate Exchange, a voluntary cap-and-trade system for carbon dioxide emissions. Companies who join the exchange agree to reduce their greenhouse gas emissions each year. By retiring these offsets, TerraPass ensures that the reductions are permanent.
Additional information on TerraPass and its innovative programs is available online at www.terrapass.com.
About GS Carbon Trading
GS Carbon Trading, Inc., a wholly-owned subsidiary of DirectView, Inc., is a development stage company that was founded to facilitate decarbonization in ways that cost-effectively capitalize on the evolving carbon markets. GS Carbon owns about 10% of TerraPass, Inc. DirectView is in the process of changing its name to "GS Carbon Corporation" and is a GreenShift portfolio company (OTC Bulletin Board: GSHF - News).
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of DirectView, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
GreenShift Corporation 212-994-5374 Fax: 646-572-6336 investorrelations*greenshift.com www.greenshift.com or Investor Relations: CEOcast, Inc. Andrew Hellman, 212-732-4300 or Public Relations: Walek & Associates Deborah McCandless, 212-590-0523 Fax: 212-889-7174 dmccandless*walek.com www.walek.com
Source: GS Carbon Trading, Inc.
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