- Viridios Capital and WealthCheck purchase Conways Station for AU$20 million.
- Conways Station is a 139,200 hectare property south-east of Katherine in the Northern Territory, bordering Arnhem Land and the Kakadu National Park.
- The property currently has 4,700 head of cattle and has significant potential for carbon project development.
AUSTRALIA – Viridios Capital and WealthCheck have purchased Conways Station in the Northern Territory for AU$20 million with a view to developing a large scale carbon project and sustainable cattle operation.
The 139,200 hectare property is south-east of Katherine, bordering Arnhem Land and the Kakadu National Park, and has significant potential for ecosystem restoration following years of cattle grazing and the impact of wild buffalo.
“We’re excited to be working with WealthCheck to develop a carbon project on Conways Station. After years of intense cattle grazing we see significant potential to restore this amazing land which borders some of Australia’s most iconic and biodiversity rich ecosystems,” says Viridios Group CEO, Eddie Listorti.
The intention is to invest in the development of a Human Induced Regeneration (HIR) and Integrated Farm and Land Management (IFLM) project on the property as well as adopting sustainable cattle grazing practices.
Following the recent changes to Australia’s carbon market, there has been strong demand for carbon credits developed under the HIR methodology, which is expected to continue under the new IFLM framework.
Viridios AI (VAI) data shows that HIR credits trade at a significant premium to generic Australian Carbon Credit Units (ACCUs), with the latest data showing the market willing to pay AU$34.62 for HIR ACCUs compared to AU$31.50 for generic.
“As we head towards 2030, we expect the carbon credits we generate from this unique property in the Northern Territory will help satisfy the increasing demand for high quality ACCUs,” says Listorti.
Contact: Tom Godfrey | +61 (0)419 313 101 | [email protected]
Viridios Capital (viridioscapital.com) is a specialist climate change investment manager founded in 2019. It has two main activities: Capital Markets: Advisory, managed accounts, registry and risk management, trade execution, and structured products and Origination: Focussing on sourcing carbon credits in the primary markets and generating low term customer value by working directly with project developers. It is headquartered in Sydney, Australia and holds Australian Financial Services Licence #521837.
WealthCheck (wealthcheck.com.au) is an Investment and Property Manager that sources opportunities to invest in the Australian Agricultural Property Sector. It has a ‘hands-on’ approach and a proven background in actively managing farms from the ground level up. Its approach, combined with its structured finance and business expertise, drives performance and gives its clients the option of actively or passively managed investments. It also has experience and a proven track record in livestock, rain fed cropping, irrigated cropping and horticulture across Australia.