Woodbois Limited Woodbois partners with World Forest ID

TIDMWBI

Woodbois Limited

16 May 2022

Woodbois Limited

("Woodbois", the "Group" or the "Company")

Woodbois partners with World Forest ID

Woodbois Limited (AIM: WBI), the African focused forestry, timber trading, reforestation and voluntary carbon credit company, is pleased to announce a new partnership with World Forest ID, which will enhance the traceability and identification of timber, originating from the company's forest concessions in Gabon.

World Forest ID is an international organisation which is revolutionizing the protection of forests through the application of science-based origin tracing and species identification. World Forest ID is building an extensive global library of reference samples, from various forest regions, for use in cross verification.

Woodbois Limited is supporting World Forest ID's mission in Gabon by coordinating the collection of samples from within its concession areas. World Forest ID's science-based analyses provide irrefutable verification of species identification and origin, meaning Woodbois Limited will be able to provide proof that wood originates from its concessions, as well as confirmation of botanical species.

CEO, Paul Dolan, said:

This partnership with World Forest ID represents a critical building block in the Woodbois suite of services for the sustainable management of Africa's forests.

We will continue to dedicate time and resources to the research and engagement of best in class partners to enable us to scale our sustainable forestry operations and carbon projects in Africa.

Enquiries:

 
Woodbois Limited 
 Paul Dolan - CEO                                    + 44 (0)20 7099 1940 
Canaccord Genuity (Nominated Advisor and Broker) 
 Henry Fitzgerald-O'Connor 
 James Asensio 
 Gordon Hamilton                                   + 44 (0)20 7523 8000

Background on Woodbois

Woodbois Limited (AIM:WBI) is an African-focused forestry company, divided into three distinct, but highly complementary divisions comprising the production and supply of sustainable African hardwood products, the trading of hardwood and hardwood products, and a reforestation and carbon credit division.

Woodbois' forestry division has production facilities in Gabon and Mozambique, managing a total of c470,000 hectares of natural forest concessions. The trading division comprises a highly experienced team of timber specialists, who source and supply sustainable timber to a global customer base. Its proprietary technology developed in house, captures, stores and presents data, providing a matching engine to build scale and optimise trading opportunities with its global customer base.

The Company's carbon sequestration and trading division was formed in March 2021 and aims to generate voluntary carbon credits for corporate partners through the delivery of large-scale reforestation projects.

The Company's focus on the transparency and sustainability of its timber operations has been recognised by The Zoological Society of London, which ranked Woodbois joint sixth in its Sustainability Policy Transparency Toolkit ('SPOTT") ESG policy transparency assessments for the worldwide timber and pulp industries for 2021.

Please follow the Company on Twitter: @WoodboisLtd

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May 16, 2022 02:02 ET (06:02 GMT)

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