Contents

Outline of Funds

page 3

FUND FACT SHEET (provisional and proposals)

page 4 - 5

Summary table of proposed Funds

page 6

CapIraq - Iraq Capacity Building - 50 million USD

page 7 - 8

DuPrime - Dubai prime bespoke residential properties - 20 million USD

page 9

BritHouse - UK Private Rented sector Housing guarantee Scheme - 120 million GB Pounds sterling

page 10

SovGarant - Emerging and frontier market infrastructure and housing built under Sovereign guaranteed deferred payment
schemes -300 million USD.

page 11

Hotel Dubai (Dubtel) - 4 star business hotel on plot adjacent to Dubai Metro station - 75 million USD

page 12

Hotel Basra (Bastel) - 4 star business hotel in Basra, southern Iraq -90 million USD

page 13

TourBF - Barrier-free, assisted living, short and mid-term residential apartments in Dubai- 65 million USD

page 14

ITC-Dules - International Trading Center Dules, Washington USA -325 million USD

page 15

ResMarine - Residential Marinas -150 million USD

page 16

SASE - Sports and Athletics School of Excellence- Academic City, Dubai - 100 plus 65 million USD

page 17

WesHafen - Development of the River Rhein Dockland area in Wesel, North Rhein Westfalia, Germany - 60 million euro

page 18

ResDefer -Management accommodation for Major UAE Corporate, International City, Dubai- 35 million USD

page 19

Euroshale - Provisional lease and drilling options in Germany, North Rhein Westphalia - 15 million Euro

page 20 - 21

TransAfrik - All- weather All- terrain sub-saharan logistics - 25 Million USD

page 22

NigerMines - Mining and Export of Lead/Zinc ores in Ebonyi State, Nigeria - 40 million USD

page 23

EnergyFM - Revenue generated through building energy savings-Dubai, GCC - 35 million USD

page 24-25

Outline of Funds
The funds are private equity collective investments each incorporated as an International Limited Partnership
Partnership Act 1996, regulations and rules of the British Virgin Islands (BVI).

under the laws - The

There is a separation of the roles of fund management and operation and fund administration.
The funds uncommitted properties will be domiciled with a custodian that is the wealth management division of an authorized international
bank. The property so domiciled will be invested by the custodian in accordance with the partnerships constitution.
The minimum subscription to each partnership at inception shall be 50,000 USD
The partnerships may:

Invest in unlisted companies, or incorporate and invest in companies by means of shares, convertible debt or other instruments
carrying equity participation rights or reward.

Participate in management buy-outs or buy-ins.

Invest in real properties and infrastructures or properties and infrastructures under development and construction

In general to engage in any lawful act or activity for which partnerships may be organised under the Law

The General Partner will act as and control the Fund Operator (Fund Operator) of each fund. The Fund Operator may be a special purpose
company or other corporate vehicle of a jurisdiction most suited to the legally effective operation of each fund.
Investment opportunities are shown below. The selection and timing of launch of these or any other investments will be determined by the
funds officers perception of market appetite and tolerance.
The fund may use Special Purpose Companies/Vehicles to retain ownership of the fund assets
The Fund Operator shall receive a performance based remuneration .The costs to the Fund Operator associated with the operational
management of each fund will be reimbursed by the fund.
The Fund Operator will in the case of each fund be at least 51% owned by Otus Services (OS) a vehicle that will be incorporated solely for the
operational management of the funds. The remainder of the shareholding of each funds Fund Operator may be distributed to persons or
companies that in the opinion of HS may secure or enhance the sub-funds return or may be in possession of any licenses or permitting that
may be required and availed of by the fund.

FUND FACT SHEET (provisional and proposals)

Name of each Fund: The short form as shown in summary table below e.g. Otus CapIraq
Investment objective: To achieve a return in excess of 8% per annum
Fund Type: British Virgin Island International Limited Partnership
Domicile: British Virgin Islands
Regulator: BVI Financial Services Commission
Primary Listing: A liquidity program for limited partnerships on a private equity electronic exchange
Secondary listing: An American and Global Deposit Receipts program (ADR and GDR) for limited partnership interests with listings on AIM
(London), CISX (Channel Islands) and elsewhere as may be appropriate
Currency: USD, Euro and GBP
Subscription: At inception - 50,000 USD/Euro/GBP then increments of 1,000 USD/Euro/GBP
Classes of Ownership: All limited liability partners are ranked equally and represent a proportionate share of the partnership.
Fund Manager: The General Partner - Otus Services led by Ken Bearder
Fund Administrator: Intertrust led by Alice Read
Fund Operator: Majority owned by the General Partner
Legal advisors: King and Spalding led by Philip Sacks
Harney Westwood & Riegels led by Philip Graham

Active Custodian: Barclays Wealth

Marketing and Placement: Unassigned at present
Registrar: BVI Registrar of Corporate affairs, corporate services by Intertrust
External Auditor: KPMG
Subscription Fee: The actual costs of subscription expected to be under 2.5% for minimum investment of 50,000 USD
Redemption Fee prior to closing: The actual costs associated with any redemption prior to closing
Fund administration expenses:
Asset Value

The actual costs associated with the administration. Expected to be approximately 1 to 1.25% p.a. of Net

Performance Fee: The General Partner shall receive no remuneration from the fund
The Fund Operator (FO) shall be remunerated for the operational management of the sub-funds under an incentive
arrangement. It will however only come into effect once the fund has achieved a total return of at least 8 % for a financial
year and calculated as an Internal Rate of Return for the property of the fund. Above this level limited partners benefit from
80% of the return between 8% and12% per annum and 65% of the return above that level. The balance of the return is
payable to the Fund Operator annually in arrears.

Fund Summary Table

Fund

Value
Description
'000,000 s
USD GBP Euro

CapIraq

50

Iraq Capacity Building - participation in the Iraq oil and gas construction service industry

DuPrime

20

Dubai prime bespoke residential properties - design and build

BritHouse

120

UK Private Rented sector Housing guarantee scheme

SovGarant

300

Infrastructure and housing built under sovereign guaranteed deferred payment schemes

Dubtel

75

4 star business hotel on plot adjacent to Dubai Metro station

Bastel

90

4 star business hotel in Basra, southern Iraq

TourBF

65

Barrier-free, assisted living, short and mid-term residential apartments in Dubai

ITC-Dules

325

International Trading Centre Dules, Washington USA

ResMarine

150

Residential Marinas adjacent to the Lagoons Project on the Creek, Dubai

SASE

165

Sports and Athletics Scholarship Boarding School of Excellence - Academic City, Dubai

WesHafen
ResDefer

60
35

Euroshale

Development of the River Rhein Dockland area in Wesel, North Rhine Westfalia, Germany
Management accommodation for Major UAE Corporate, International City, Dubai, UAE

15

Provisional lease and drilling options for shale gas and oil in Germany, NRW.

TransAfrik

25

All- weather All- terrain sub-saharan logistics with All-Wheel-Drive Trucks

NigerMines

40

Mining and Export of Lead/Zinc ores in Ebonyi State, Nigeria

EnergyFM

35

Revenue generated through building energy savings-Dubai, GCC

CapIraq - Iraq Capacity Building - 50 million USD

There is an opportunity within a construction industry based consortium in which the Fund Operator is an interested party to take up the 51%
shareholding of a registered but unencumbered oil field services and general contracting company (OFSC ) in order to expand opportunities
within the oil gas and construction industry in southern Iraq.
The shareholding shall be acquired for low six figure USD amount.
The capital raised shall remain domiciled and invested by the active custodian .It shall be used as collateral to provide performance and
advance payment guarantees and to secure working capital facilities.
The remaining 49% shareholders are consortium members engaged in construction contracts for major oil industry players in the geographic
area around Basra.
These members shall carry out construction works for the OFSC at audited cost. They will however not be required to fund the works at any
time with their own financial resources. Their participation in any profit will be through their shareholding in OFSC.
The Master Joint Venture Agreement associated with the participation has been drafted.
The funds strategy will be re-considered after three years of operation. It may be either a divestment or preparation for a public offering on
Nasdaq-Dubai or other regional exchange
Details of the Consortium are:
Trapp Construction International, established 1872, http://www.trappco.de/trapp-website, present in Iraq since 1957 during which
time we were involved in several industrial and infrastructure projects and were the technical joint venture partners in the
construction of the Mosul Dam project in the 1980s.

The Alateia Group www.alateiagroup.com, local contractors, who also provide Oilfield Services & Supplies. They have plot number 15
at Al Rumaylah, where we are building an oilfield service base comprising of a vehicle maintenance centre, medical centre with
armoured ambulance service , offices and accommodation, catering, gymn, etc., which is ready for occupation and is also available for
use by third parties. Adjacent to these facilities is the construction operations yard see photos below

SARCO of Dubai www.sultangroup.ae , contractors and designers, who provide back office assistance such as designs, pricing,
procurement, supply, shipping, management, liaison, etc.

Design services to the consortium, when required, are lead by BH-NS http://www.bh-architects.com/site.html., whose management
has previous and recent experience of operating in Iraq

Security Services as might be necessary are provided by Edinburgh International http://www.edinburghint.com/

DuPrime - Dubai prime bespoke residential properties - 20 million USD

This fund will enter into prime land acquisition, design and construction of bespoke single dwellings for high net worth individuals wishing to
own a residence in the United Arab Emirates - primarily Dubai. Funds will only be committed to acquisition and construction on closure of a
sales agreement for the concerned property with secured payment terms.
Land will most likely be acquired on the secondary market. It is presently intended that design and construction of the dwellings will be
carried out on behalf of the fund by Messrs Sarco of Dubai, who were established in 1957, have an unlimited construction license and a
reputation for quality. The Fund Operator is an interested party in Messrs SARCO.
The construction shall be carried out at audited cost plus a sliding fee based on closeness to the agreed target cost price and be in accordance
with US Green Building Counsels LEED standards
There are, for example, front - end plots available from Nakheel on the Palm Jumeirah

BritHouse - UK Private Rented sector Housing guarantee scheme - 120 million GB Pounds sterling
This will be low energy usage, affordable housing built for rent in satisfaction of the eligibility requirements for the UK Governments
guarantee scheme. Please see:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/70274/Housing_Guarantees_-PRS_Scheme_Rules.pdf

The guarantees will support new-build projects, located in the United Kingdom. The private rented sector guarantee will back a variety of
options to invest in new homes for private rent, from building new homes to converting existing commercial spaces into rental properties.
The guarantees will support investors in a variety of ways. For example:
An investor wants to build a block of 100 flats that they will then offer for private rent. The value of the built flats will be 20 million. They can
apply to the guarantee scheme for up to 16 million, or 80% of the end value.
To qualify, the homes must not yet have started on site, be well-designed and commercially viable with a plan for rental management, and
meet the schemes stated criteria.
The properties will be designed and built on an audited cost plus fee basis.
They shall be low-energy utilization residences constructed to the Passivhaus standards http://en.wikipedia.org/wiki/Passive_house and to
US Green Building Counsels LEED standards on an audited cost plus fee basis by , as currently intended, Messrs. Trapp of Wesel, Germany
http://www.trappco.de/trapp-website and, as an example, Messrs Henry Boot of Sheffield, UK http://www.henryboot.co.uk/ in joint
venture.

SovGarant - Emerging and frontier market infrastructure and housing built under sovereign guaranteed deferred payment schemes - 300
million USD.
These will typically be a three / four year construction period with a seven/six year deferred payment period, totaling 10 years.
The works shall be constructed for the fund on an audited cost plus fee basis.
Funds that are drawn down from the active custodian to pay for the works under construction shall be subject to an interest charge to the
client that will accumulate and be payable on completion of the works.
This will take the form of monthly percentage completion certification of the project which said percentage completion will be applied to the
agreed total principal value of the project and such amount will be considered to be drawn down and subject to an accruing interest charge
during the remainder of the construction period.
Thereafter loan principal shall be repaid and interest paid over the remaining six or seven year period.
The interest and loan principal payments will be subject of a sovereign guarantee or other irrevocable top tier security.
Such a scheme is currently being explored with the Governments of Iraq and Nigeria.
It would also be possible to introduce same for road and bridge construction and rehabilitation in other frontier and emerging market
economies.

Hotel Dubai (Dubtel) - 4 star business hotel on plot adjacent to Dubai Metro station - 75 million USD
One of the world's largest hotel companies which owns, operates, franchises and manages over 1,110 hotels, resorts, spas, residences, and
vacation ownership properties worldwide under several brands employing over 170,000 people is considering entering into a management
contract for a hotel to be built to their specifications on a plot in which the Fund Operator has an indirect interest. Beneficial ownership and
title of the plot and the hotel will be with the fund.
The negotiations are subject to a confidentiality agreement
The hotel will be constructed to the US Green Building Counsels LEED standards on an audited cost plus fee basis by Messrs. Sarco of Dubai;
www.sultangroup.ae

Hotel Basra (Bastel) - 4 star business hotel in Basra, southern Iraq - 90 million USD
The fund has approached one of the world's largest hotel companies which owns, operates, franchises and manages over 1,100 hotels,
resorts, spas, residences, and vacation ownership properties worldwide under several brands employing over 170,000 people in order to
explore entering into a management contract for a hotel to be built to their specifications on a plot adjacent to the expressway between
Basra international airport and the Al Rumaylah - Um Qasr intersection and in which the Fund Operator has an indirect interest. Beneficial
ownership and title of the plot and the hotel will be with the fund.
The negotiations will be subject to a confidentiality agreement.
The hotel will be constructed to the US Green Building Counsels LEED standards on an audited cost plus fee basis by Messrs Trapp of Germany
http://www.trappco.de/trapp-website in consortium with Messrs Sarco, Dubai www.sultangroup.ae and the Alateia Group of Iraq
www.alateiagroup.com,

TourBF - Barrier-free, assisted, short and mid-term residential apartments in Dubai -65 million USD
{Guidance: 7.3 million people live in Germany that are officially handicapped that is 8.7% of the population. 46% of those people are between
the ages of 55 and 75 (Official figures as at 2011).
By 2030, 47% of the german population will be over 65. As at today there are seniors that would like to travel but cannot because the facilities
are not available. The situation in Germany is typical for many mature economies}
A low rise block of serviced, assisted living, barrier free residential apartments shall be built in a Dubai free zone. This will be targeted at the 55
to 75 year old age group where one or both the partners may need assistance or be rehabilitating from a health set-back. The residential units
shall accommodate wheelchairs and shall have a call button to resident nurses preferably with mastery of the residents own language who
may also take custody of and administer any medicinal regimes for the residents.
There will also be the possibility to purchase the apartment with an assisted living service contract for those who may wish to relocate
permanently.
The residences shall be built to the US Green Building Counsels LEED standards on an audited cost plus fee basis by Messrs. Sarco of Dubai;
www.sultangroup.ae and in accordance with the latest design philosophy on homes for the aged:

ITC-Dules - International Trading Center Dules, Washington USA -325 million USD

ITC_080129_ITC_ko
mplett_A4_kl.pdf

This is an exhibition, hotel, retail and entertainment complex to be built on a plot of land adjacent to Dules Airport, Washington, USA of which
the controlling interest shall be transferred to the fund. See details in PDF
The complex shall be constructed to United States LEED Green Building standards on an audited cost plus fee basis by Messrs Trapp of
Germany, http://www.trappco.de/trapp-website, a current beneficial owner of the land, in association with Messrs Skinker & Garrett of
Washington DC.
It shall be designed and built to US Green Building Counsels LEED standards.

ResMarine - Residential Marinas -150 million USD

This will be on a plot of land adjacent to the Lagoons Project, being developed on the Creek in Dubai, UAE
These will be low rise residences built on land fingers protruding from the two longer sides of the broadly rectangular marina with berthing on
each side of each finger.
This will be targeted at the cruising couple sailing fraternity who may see the added advantages of a tax free residence associated with a
marina berth.
Berths will be principally for 35 to 60 foot monohulls and some similar sized catamaran berthing.
The residences will be constructed to the US Green Building Counsels LEED standards on an audited cost plus fee basis by Messrs. Sarco of
Dubai; www.sultangroup.ae

SASE Sports and Athletics School of Excellence - Academic City, Dubai - 100 plus 65 million USD
This will be a twinned fund not requiring co-investment. SASEbuild of value 100million will build and own the school property which will be
rented to the SASEops fund of value 65 million which will be concerned with the operation and commercial success of the school.
The school shall be an invitational scholarship only secondary boarding school. It shall use existing youth sport federations, video upload
portals, etc. to identify young sporting talent firstly in Africa, the Middle East and Asia, southern America and southern Europe.
The scholars will be taken in by the school. Their talent shall be nurtured and they shall receive a British curriculum secondary education
concentrating on traditional core maths and science subjects, English, Spanish and mandarin. They will be taught the necessary social skills and
manners to enable them to be competent ambassadors of the school.
A condition for scholarship will be that the scholar , his/her guardian or parents shall sign an undertaking with the school that 20% of the
scholars direct and indirect earnings from sport, endorsements, advertising, etc. and 10% of any none sport related direct or on direct income
from the age of 16 till 65 shall be assigned to the school.
The sporting facilities at SASE will also be made available for rent to visiting professional players and teams for training retreats.
The residences will be constructed to the US Green Building Counsels LEED standards on an audited cost plus fee basis by Messrs. Sarco of
Dubai; www.sultangroup.ae

lage_2004-Model.pdf

WesHafen - Development of the River Rhein Dockland area in Wesel, North Rhein Westfalia, Germany - 60 million euro
Referring to the link: http://www.wesel-an-den-rhein.de/ziel.html
This is an area of dockland on the Rhein waterfront made available by the city municipality for mixed use development. The Fund shall build
for sale a collection of apartments and lofts to the highest standards of energy efficiency and conservation. They shall be barrier free and
suitable for assisted living for the aged. The target groups shall be: people who are willing to relocate from Wesels surrounds, the Ruhr area
and Rheinland from as far as Duesseldorf to Wesel for the water front living lifestyle; older persons who wish to exchange their house for a
less demanding apartment, investors, regional pensioners with their own boat, local well-to-do families.
The properties shall be marketed through the property departments of the local and regional building societies (Sparkassen) in the Ruhr area
Rheinland and Wesel surrounds from Kleve to Coesfeld, Borken etc.

They shall be low-energy utilization residences constructed to the Passivhaus standards http://en.wikipedia.org/wiki/Passive_house and to
US Green Building Counsels LEED standards on an audited cost plus fee basis by , as currently intended , Messrs. Trapp of Wesel, Germany
http://www.trappco.de/trapp-website

ResDefer - Management accommodation for Major UAE Corporate, International City, Dubai - 35 million USD
The Fund Operator is negotiating with a major conglomerate headquartered in the UAE and employing over 50,000 people for the
construction of a first phase of residential apartments for their middle management; comprising four adjacent basement plus ground plus four
floor buildings each with 46 one bedroom and 15 two bedroom apartments. The payment will be by secured deferral over a period of 8 years.
The residences shall be constructed to the US Green Building Counsels LEED standards on an audited cost plus fee basis by Messrs. Sarco of
Dubai; www.sultangroup.ae

Euroshale - Provisional lease and drilling options in Germany, North Rhein Westphalia - 15 million Euro
According to the U.S. Energy Information Administration, Germany has technically recoverable shale gas reserves of 230 billion cubic meters.
In summer 2012 this figure was revised, The Federal Institute for Geosciences and Natural Resources estimated that Germany's level of shale
gas that could be extracted is between 0.7 and 2.3 trillion cubic meters. Of these, the deposits in North Rhein-Westphalia are considered the
most promising. The state of North Rhine - Westphalia have issued a total of 19 permits but has recently put in place a drilling moratorium.
The moratorium was put in place following a study in September 2012 commissioned by the state that concluded that hydraulic fracturing
should not be allowed to take place for the time being until there is further research regarding the safety of hydraulic fracturing.
Germany's Ministry for Environment has published a study in August 2012 into the impact of hydraulic fracturing on water and the
environment. The study concluded that hydraulic fracturing should not be banned but recommended that shale gas operations should not
take place in water protection zones, Environmental Impact Assessments must be mandatory for drill sites and that the ingredients of
fracturing fluids must be disclosed.
Germany is heavily dependent on gas imports from Russia and Norway and is likely to become even more so with the early closure of old
nuclear power stations and dwindling conventional gas reserves. It consumes about 81 billion cubic metres of natural gas per year, accounting
for 23% of its gross inland consumption of energy. It must import 86.2% of this.
There is a gross disparity of gas prices between the USA and Europe.
Poland is displaying an apparent desire to create their own energy cost advantage by commencing an aggressive shale gas exploration
campaign. The United Kingdom is displaying a sense of urgency
There is an emerging Realpolitik across the political parties in Germany that such economic disadvantage cannot be allowed to take its course
and that rapid and concerted efforts must be made to ensure that unconventional drilling can be conducted safely and may then also
commence so as to remove the grave economic risk to the countrys manufacturing base of a resulting energy cost disadvantage if the shale
gas deposits are not exploited.
The fund shall enter into a technical service agreement with a drilling company operating in the Bakken Shale Gas fields of the USA. The fund
shall acquire the rights to a flagship plot of arable or industrial land of 15,000 to 25,000 sqm or more and negotiate options on further pieces
of land.
The fund shall proceed through the political and permitting process to obtain a license to drill for shale gas and/or oil on the flagship plot. The
land will be situated as close to the old industrial areas around the regional steel capital Duisburg as geology, price and permission may enable.

This will allow opportunity for the redevelopment of brown field industrial sites for petrochemical processes associated with shale gas and oil
and access to the river Rhine harbour facilities. The alternative opportunity will be around the regional capital and old Hansa city of Wesel
which also has land available but a considerably smaller Rhine harbour.
The fund value represents the campaign cost of the first drilling location .It is expected that financing of subsequent locations will be possible.

Original land usage = 8,208 Sqm; Restored = 1,435 Sqm

Drill is on location for 3 to 4 months only
Video: http://www.crzo.net/flash/shale_video.htm

TransAfrik - All- weather All- terrain sub-saharan logistics - 25 Million USD

Transportation in sub-saharan Africa is subject to the vagaries of inadequate roads which become impassable during periods of inclement
weather such as the rainy season .Any rail links are often badly maintained .The fund shall acquire a fleet of all wheel drive truck tractor units
to run a regular all year freight service along primary transport routes from the coastal areas to the hinterland or to complement existing and
operating rail and waterway services
Such a route would be for example a north south feeder Route through Tanzania complementing the east west rail network which stretches
from Dar es Salam on the coast of Tanzania to the inner rail terminals at Kigoma on lake Tanganyika and Mwanza on lake Victoria which
provides access to Burundi ,Rwanda ,Uganda and the Republic of Congo.
A similar route would be viable through the south, center and north of the Federal republic of Nigeria.
Trucks will be bought new using vendor financing; an example being Mercedes Benz Actros trucks Model 3341, 6X6 which will pull trailers and
semi-trailers with fleet financing from Mercedes Benz Financial services.
Where no mobile phone coverage is available the trucks will be equipped with VHF radios. There will be radio way stations along the routes
which will be staffed and equipped to carry out emergency repairs, tyre changes etc.

NigerMines - Mining and Export of Lead/Zinc ores in Ebonyi State, Nigeria - 40 million USD
The fund shall obtain licenses for the exploration mining and export of Lead-Zinc mineralizations in the lower Benue Trough located in Ebonyi
state of Nigeria
The deposits are familiar to the Fund Operator, having previously prospected in the Ishiagu lode.
The extracted ores shall be crushed at the lode and transported by road to the rail terminal at Enugu
Under an agreement with the Nigerian Railway and Ports Authorities and port terminal operators the crushed ore shall be transported by rail
from Enugu and offloaded into the ore hoppers at Port Harcourt Port for ship loading.
A contract for sale will be entered into with a European ore smelter for which the ore is suitable.

EnergyFM - Revenue generated through building energy savings-Dubai, GCC 35 million USD

ES Operation
Strategy.pdf

ES Outline Business
Strategy.pdf

Index.pdf

This is an opportunity developed by the Fund Operator

The attached Outline Business Strategy pdf document explains the business model.
It is an extract from a much larger documentation see Index attached.
This is a sub-fund that may be attractive to those professional and institutional investors assigning a portion of their portfolio to endeavours
with this combination of energy saving, reduction of carbon foot prints and green environmental attributes.
Prospective joint venture partners are Mace-Macro (www.macemacro.com) of the UK and Cofreth (www.cofreth.com.my) of Malaysia with
participation from the Sultan Group electro-mechanical contracting company http://www.alite.ae/NEW/Product/Home.html. Discussions had
also commenced with Trane (www.trane.com).
The technical partners will be accommodated within the equity in the Fund Operator incorporated for this fund.
Under the UNFCCC Kyoto Protocol Clean Development Mechanism, emission-reduction (or emission removal) this joint venture can earn
certified emission reduction credits. These saleable credits can be used by industrialized countries or more recently regional airlines to meet a
part of their emission reduction targets. Tuv Nord (www.tuvme.com) who are an UNFCCC accredited designated operational entity i.e. a thirdparty certifier, have been contacted in this regard and have vetted the operational strategy. They - or similar- will certify the emission
reductions.
The Fund Operator recently had discussions with the insurers Euler-Hermes who have studied the business model and they have undertaken
to insure the receivables http://www.eulerhermes.com/Pages/default.aspx
The Fund Operator is about to purchase a first set of monitoring and re-commissioning equipment and do some evaluation and testing using
own staff on typical buildings to which they have access.
The first third party target clients would be hotels in the region, then office buildings and so on.