GreenAngel Energy has reported that investee company Habitat Carbon Assets have partnered with Brazil's pig iron producer to reduce greenhouse gas emissions and in the process generate up to $4m worth of UN certified carbon credits.

The project involves the replacement of old wood burning kilns with energy-efficient kiln technology, reducing carbon emissions by over 200,000 tonnes.

Because the installation will also lead to reductions in other gases, including methane, and the offsets will be certified through the United Nations, the resulting carbon credits are considered to be of premium value.

Habitat will share 48% of the expected $4m worth of credits created in the project.