Treemetrics signs €1.2 Million Contract with the European Space Agency

CORK, Ireland, Oct. 11, 2022 /PRNewswire/ -- Treemetrics, a global leader in forestry management software, has signed a contract with the European Space Agency (ESA) valued at €1.2 million. Under the two-year contract, Treemetrics will be utilising satellite imaging, data analytics and its advanced forest measurement technology to provide more accurate forest carbon credit estimates. 

The global demand for forest carbon credits is growing larger every year, having nearly quadrupled in 2021, driven by an increasing desire from companies and individuals to reduce their carbon footprint. Many organisations across the globe are voluntarily committing to this and investors are demanding the utilisation of high-quality carbon projects. The planting of trees and the restoration of forests is an important part of the global fight against climate change and accurate forest measurement is imperative to this.

Treemetrics, which is headquartered in Cork, Ireland, has been providing technology-based solutions to the global forestry industry for the past 18 years. The company provides solutions to clients in over 40 countries by utilising mobile applications, remote sensing, data mining and satellite communications technology and tailors them for maximum benefit for the forestry industry.

Enda Keane, CEO of Treemetrics said: "Treemetrics is delighted to work with the European Space Agency on this new project, which will play an essential role in building greater trust and transparency in this rapidly growing forest carbon credit market.

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."

Welcoming the announcement, Minister of State for Business, Employment and Retail, Damien English, TD, said: "This announcement highlights the importance of the Government's continued investment in the ESA which provides companies like Treemetrics with free access to space data to develop their innovative technologies. Treemetrics is a fantastic example of an innovative Irish company playing its part in helping to reduce greenhouse gases by helping to provide more accurate carbon capture data for forest owners."

In June, Treemetrics announced that the company's forest management software platform will harness European Space Agency technology to bring greater transparency to forestry certification.

Visit: www.treemetrics.com

Issued on behalf of Treemetrics by Heneghan

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SOURCE Treemetrics