Chestnut carbon gets $ 160 million to turn old farms into forests

Nature-based carbon removal increased by $ 160 million to the financing of the starting chestnut carbon, the company told Techcrunch. The starting marginal and broken farming, plants with their native trees and the resulting carbon loans.

Carbon loans have become a hot commodity, especially in a hot commodity, especially to prevent the offset of skyreaking waste, which resulted in the expansion of data centers that serve Cloud and AI customers.

In the new round, the Canadian Pension Plan includes investment in the investment council, Cloverlay and DBL partners, not disclosed university contributions, family departments, funds and other institutional investors.

For Chestnut carbon$ 160 million is in fact a slightly modest amount. When the company is established, a private capital company Kimmeridge gives up to $ 200 million. The firm usually invests in oil and gas companies, but managed by partner Ben Dell, the growing carbon has the opportunity to make a claim in the credit market.

To take place, a start of forest carbon work, a beginner established by Kyle Holland, a start to manage to sell carbon loans to families. The Netherlands continued with Chestnut, where the chief crop officer is currently.

The team with Chestnut has expanded their attention to enter projects developed by the company only by managing existing forests.

Chestnut currently owns 35,000 acres of extreme marginal and overgrown in the US southeastern United States. Part of the purpose of fundraise is to significantly magnify the chestnut holdings. The beginning, until 2030, expanding the carbon loan force up to 100 million metrics to expand its credit power, which must turn into forests from hundreds of thousands of hectares.

Last month, chestnuts made a payment on this target with sale 7 million carbon loans to Microsoft. (A carbon loan has a metric tone of carbon. Chestnut uses a gold standard to confirm carbon loans for 100 years.

The new financing tour should help you drastically expand the start operations. Although there are many high quality carbon loans today, chestnuts are 100 million metric tone target in 2023, a part of the annual carbon emissions with 37.4 billion metric tons. according to To IEA.

Again, if the chestnut carbon can supply its support in the credit market, the forking and fortroduction has great potential to prick up the impact of climate warming pollution.

One Education in 2019 He found that the world could support 2.2 billion acres than today. After these forests are adult, 205 billion metric tons of carbon or currently one-quarter of the carbon in the atmosphere.