Credits generated through 2026 are paid under the current contract, unchanged. About
7,900 credits are expected for those vintages, so the 7,000-credit opening tranche at $30.00 is
paid in full, with the balance at $10.00 and the 30% share above $10.00 on both. Nothing already being produced is
reopened.
From 2027, one fixed price plus a share of the upside applies to every credit, from the existing
operation and the expansion alike. The share is taken on what Virridy receives above $15.00, the
same measure Virridy is paid on under its own agreement with LDC, which gives it a $13.00 floor and half of
anything above $15.00. Below $15.00 the fixed price is paid on its own. The $1,000,000 Virridy pays up front in 2027 funds expansion for a further
300,000 people, fully online by 1 March 2028. Asili's own programme reaches
100,000 people on 1 January 2028 either way, so the funded project serves 400,000. The amount owed
for the 2026 credits is paid out of that same $1,000,000.
Asili accepts a lower fixed price on the production it has today. In return that production quadruples.
Without this deal Asili's programme still reaches 100,000 people on 1 January 2028 and the current
contract keeps applying, which is the left column. The expansion adds 300,000 on top, online 1 March 2028, so 2028
earns on 306 of that leap year's 366 days. Credits are population served times the Gold Standard SDWS V2.0 yield of
0.41392 per person per year adopted in August 2026.
The fixed price is paid whatever happens. Only the share moves with the price Virridy
achieves, so the two options carry different amounts of risk for Asili. They pay the same at a $17.00 credit; below
that the higher fixed price is worth more, above it the larger share is. The CORSIA market is at $12.25 today, and
the cases below differ in where it goes and on what terms these credits reach it.
- Vintages through 2026
- Paid at the current contract rate. The amount is settled out of the $1,000,000 rather than invoiced
separately, so Asili receives one payment in 2027 covering both.
- The advance
- What remains of the $1,000,000 after settling 2026 prepays future credits at the fixed price. Deliveries are
applied against that balance until it is used up, and those credits still earn the upside share when they sell.
- Condition
- The expansion funding and the advance depend on Virridy signing its debt facility with Bridges Outcome
Partnership. If that is not signed by 31 March 2027, the current contract simply continues for all vintages.
- While the advance is outstanding
- Credits from the project are not sold or pledged elsewhere. If the balance is not used up by 2030, Virridy may
take a refund on the remainder or continue at a reduced share until it clears.
- Minimum sale price
- Credits are not sold below $15.00 without Asili's agreement.
The volumes are indicative. They are Virridy's current projection on the Gold
Standard SDWS V2.0 basis adopted in August 2026. The project's first monitoring period has not been verified, so no
volume here is a figure either party should rely on, and nothing commits either party to a delivery quantity.