Monday, November 21, 2022
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Treemetrics, a company that develops software for forestry management with headquarters in Cork, will be crucial to a new initiative to give the European Space Agency (ESA) more precise estimations of forest carbon credits. The company signed a €1.2m deal with the European Space Agency. The new project will be important in fostering greater transparency and trust in the expanding market for forest carbon credits, according to Treemetrics CEO Enda Keane.
Expanding market for forest carbon credits
Enda Kane and Garret Mullooly formed Treemetrics in 2005, which has created innovative technology to replace conventional forestry practices. Treemetrics will use satellite photography, data analytics, and its forest measuring technology to produce estimations of the value of forest carbon credits under a new two-year, €1.2 million contract with the ESA.
“The measurement and management of forests will be a key factor in the global community’s efforts to tackle the effects of climate change and to live and operate sustainably. It is essential that we accurately measure and harness one of our greatest natural resources, forests, and this is what Treemetrics has been working on since its foundation,” he said.
In years of collaboration with the ESA, the company developed the technology that speaks directly with harvest cutting machines, provides driver-operators with positioning and mapping services, and allows them to share real-time information about the tree-logs with forest managers and sawmill wood buyers. The newest agreement with ESA was originally made public last week. A total of €3 million was given to Treemetrics and the Irish IoT company Davra through the ESA’s Earth Observation initiative.
Welcoming the announcement, Minister of State for Business, Employment and Retail Damien English said: “This announcement highlights the importance of our Government’s continued investment in the ESA which provides companies like Treemetrics with free access to space data in order to develop their innovative technologies.
Tags: carbon credits, European Space Agency, Forestry, Treemetrics, wood, woodworking and manufacturing, woodworking event, woodworking industry
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