HPUT Carbon Project Schedule 1

HPUT Carbon Project Schedule 1 is a plantation forestry carbon project located at Stonehenge, approximately 55km north of Hobart and 25km from Oatlands in the Southern Midlands region of Tasmania. It was registered in November 2023 and covers 2,142.47 hectares.

The plantation forestry methodology allows projects to sequester carbon by establishing and maintaining a new plantation forest for the commercial harvesting of wood products. In this project, it also includes converting an existing short-rotation plantation to a long-rotation plantation to maximize biomass.

The Stonehenge area in the Southern Midlands is historically known for sheep grazing, fine wool production, and diverse cropping operations. The region typically falls in a rain shadow, receiving a relatively low to moderate average annual rainfall of around 550mm to 716mm. The local environment consists of varied soil types, commonly including sandy soils over mudstone, alluvial river flats, and areas of Tertiary basalt.

Interestingly, the project encompasses parts of the historic "Stonehenge" estate, a 170-year-old trophy sheep farm featuring an 1879 sandstone mansion. In June 2023, the 3,386-hectare property (which was previously operated under the name "Eastern Tiers") was purchased by Sydney fund manager Allan Fife for approximately $25 million. In May 2025, the project's proponent officially changed from Eastern Tiers Pty Ltd to Fife AMI 2303 Inglewood Road Pty Limited, marking the site's transition from local family ownership into an institutional investment portfolio that now integrates traditional agriculture with commercial forestry and carbon offsets. The project is also being supported by The Carbon Farming Foundation Ltd.