In 2003, TASC shareholders established ICECAP, a pioneer in international carbon markets. ICECAP developed deep expertise in project origination, portfolio management and carbon credit trading:
• Managed €500m assets, generated 40m tonnes CO2 reductions
• Set up one of the first private sector carbon funds
• First to sell derivative contracts and to structure floating price ERPAs
ICECAP originated carbon credits from over 80 projects:
• Countries: China, India, Peru and South Africa
• Methodologies: Renewables, Landfill Gas, Waste Heat Recovery
• Counterparties: Investec, Enel, Marubeni, JP Morgan, Barcap
In 2007, ICECAP sold its carbon business and the principals set up 3 Rocks Ltd: a carbon project developer. 3 Rocks Ltd subsequently distributed 40,000 efficient cookstoves in Zambia and sold over 200,000 CERs to the Swedish Energy Agency. 3 Rocks is now owned by TASC.
In 2019, TASC was founded to explore new opportunities in global carbon markets. TASC is currently extending the Zambia project and starting new projects in Australia, South Africa and Zimbabwe. TASC now has subsidiaries in Australia and South Africa.