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Chestnut Carbon to Deliver High-Quality Carbon Removal Credits through a Multi-year Offtake Agreement with Microsoft

December 20, 2023

Chestnut will Remove 362,000 Tons of Carbon for Microsoft in Phase I of the Largest U.S. Gold Standard-Registered Afforestation Project

NEW YORK, Dec. 20, 2023 /PRNewswire/ -- Chestnut Carbon ("Chestnut"), a nature-based carbon removal developer founded by private investment firm Kimmeridge Energy Management Company, LLC ("Kimmeridge"), today announced that it has entered into a multi-year offtake agreement to provide Microsoft (NASDAQ: MSFT) with high-quality, nature-based carbon removal derived entirely from a novel afforestation project based in the United States.

This is the largest afforestation project certified under the Gold Standard to date, and a testament to the scalability of high-quality nature-based solutions. Through a first-of-its-kind 15-year offtake agreement for nature-based credits, Chestnut will deliver 362,000 tons of projected carbon removal from its Sustainable Restoration Project Phase I and up to 2.7 million tons in aggregate across subsequent phases. Chestnut's differentiated focus on positive impact, verifiability and execution aligns with Microsoft's criteria for high-quality carbon removals.

Chestnut is growing its capacity to 500,000 acres and 100 million tons of carbon removal in order to meet the increasing demand for high-quality, cost-effective carbon removal solutions by corporations and governments across the globe.

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