News, Events & Insights

The Mercedes Formula 1 team has announced a new green initiative with United States-based firm Chestnut Carbon, with an exciting transformation project set.

Few fans would associate Formula 1 racing with sustainability, but perhaps incongruously for a sport that glorifies combustion, the league has a goal to reach net-zero carbon emissions by 2030.

The Mercedes-AMG PETRONAS F1 Team has joined forces with nature-based carbon developer Chestnut Carbon to support high-quality carbon removal projects across the Southeastern United States.

Chestnut Carbon announces a major new funding round on the heels of its deal with Microsoft.

Nature-based carbon removal startup Chestnut Carbon has raised $160 million in Series B financing, the company told TechCrunch. The startup buys marginal and degraded farmland, plants them with native trees, and harvests the resulting carbon credits.

Chestnut Carbon has raised $160 million to plant, restore and manage trees on degraded farmland, generating carbon credits for customers that include Microsoft Corp.

 Chestnut Carbon announced that it has completed a raise of $160 million in a Series B financing. The proceeds will be used to grow its afforestation capacity and sequester an estimated 100 million tons of carbon over the life of Chestnut’s Sustainable Restoration Project.

Chestnut Carbon has verified its Sustainable Restoration Project through the FSC, certifying that the project will have quantified positive impacts on biodiversity by restoring over 16,000 acres (6,500 ha) to native forestlands.

Chestnut’s Sustainable Restoration Project became the first U.S.-based project verified through the Forest Stewardship Council ® Verified Impact program for Biodiversity Conservation – Restoration of Natural Forest Cover.

Microsoft announced Thursday that it’s buying over 7 million tons of carbon credits from Chestnut Carbon.

Microsoft has struck a long-term agreement with Chestnut Carbon, a US-based developer of nature-based carbon projects, to restore 60,000 acres of forest over the next quarter century.

Microsoft has signed a new deal with nature-based carbon removal provider Chestnut for the purchase of 7 million tons of high-quality credits from the Gold Standard-verified Sustainable Restoration project. 

The 25-year offtake agreement is among the largest U.S. afforestation, reforestation, and revegetation (ARR) projects to date.

Chestnut Carbon has entered a new long-term agreement with Microsoft to provide high-quality, nature-based carbon removal from its afforestation, reforestation, and revegetation (ARR) project in the Southern U.S. This agreement, one of the largest ARR offtakes in the U.S., spans 25 years and will deliver over 7 million tons of carbon removal credits.

The climate-driven wildfire crisis calls for a comprehensive, cross-sector approach to funding, research, and action. Chestnut Carbon is proud to be one of the private sector companies helping manage and conserve at-risk forestlands.

Chestnut Carbon, a leading developer of nature-based carbon removal solutions, today announced its expansion into Texas, marking the fifth state in its Chestnut Restoration Project.

A New York-based developer of nature-based carbon projects announced on Wednesday the sale of its first batch of Improved Forest Management (IFM) offsets for $34 each.

NEW YORK, April 17, 2024 /PRNewswire/ — Chestnut Carbon (“Chestnut”), a leading developer of nature-based carbon removal solutions, today announced the sale of its first Improved Forest Management (IFM) carbon removal credits to a large corporate buyer at a price of $34 per credit, a premium to recent publicly announced transactions. These IFM credits are…

Kimmeridge Energy Management, the New York-based firm pledged up to $200 million to forest manager Chestnut Carbon about two years ago. Chestnut Carbon focuses on reforestation projects.

Chestnut Carbon, a pioneering nature-based carbon removal developer, announced the completion of the second phase of its US afforestation project, which includes the planting of 10 million trees and the acquisition of over 21,000 acres of marginal crop and pasturel, an area equivalent to 1.5x the size of Manhattan.

“Our 15-year offtake agreement with Microsoft remains one of the longest contracted delivery schedules in the market today”, said Shannon Smith, Chief Commercial Officer of Chestnut, referencing the deal inked at the very end of last year.

“From a carbon removal standpoint, discerning buyers want high-quality projects that have true additionality and durability, which, in this market, is very hard to find,” said Ben Dell, a managing partner at Kimmeridge and chief executive of Chestnut Carbon, referring to certified projects that involve planting new forests rather than just preserving existing woodlands.

U.S.-based Chestnut Carbon launched in 2022 and started to regrow land they own and manage. The company announced their first contract with Microsoft in December 2023 for the forward delivery of 362,000 ARR credits.

New York-based Kimmeridge Energy Management nearly two years ago committed $200 million to Chestnut Carbon, which generates carbon credits from forest projects. The business late last year signed a 15-year agreement with software giant Microsoft that includes the removal of the equivalent to 362,000 tons of carbon dioxide in its first stage and as much…

Chestnut Carbon, a nature-based carbon removal developer founded by private investment firm Kimmeridge Energy Management Company, LLC, today announced that it has entered into a multi-year offtake agreement to provide Microsoft 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…

The deal is covers the removal of 2.7 million tonnes of CO2 from the atmosphere over 15 years in order to support Microsoft’s climate ambitions. Read more

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…

Dec 20 (Reuters) – Microsoft Corp (MSFT.O) has struck a deal with offsets startup Chestnut Carbon to acquire credits linked to the removal of carbon dioxide from the atmosphere, the firms said Wednesday, as part of the tech giant’s push to meet its sustainability goals. Unlike other offset deals that generate credits by preserving trees,…

Microsoft and nature-based carbon removal startup Chestnut Carbon announced today a 15-year offtake agreement, with Chestnut providing Microsoft with potentially more than 3 million tons of nature based credits from its U.S.-based afforestation project. The deal includes the removal of 362,000 tons of carbon in its first phase, and up to 2.7 million tons in…

Greg Adams to serve as Chief Financial Officer; Shannon Smith to serve as Chief Commercial Officer Chestnut develops the highest-quality nature-based carbon credits to help sustainability-focused companies achieve their net zero goals NEW YORK, Sept. 22, 2023 /PRNewswire/ — Chestnut Carbon (“Chestnut”), a nature-based carbon offset developer founded by private investment firm Kimmeridge, today announced…

The carbon offset market receives another financial boost this month. The private-equity firm Kimmeridge Energy Management has invested up to $200 million into its own carbon offsets startup Chestnut Carbon. Chestnut Carbon is a leading nature-based carbon offsetting platform. It already has experience developing such projects from start to finish. It is a fully integrated…

Kimmeridge Energy Management has pledged up to $200 million to back Chestnut Carbon, The Wall Street Journal reported. The startup plans to develop new forests to help create carbon-offset credits. Read more

Energy investor has backed Chestnut Carbon, which recently bought credit facilitator Forest Carbon Works Private-equity firm Kimmeridge Energy Management has pledged as much as $200 million to back Chestnut Carbon LLC, a startup dedicated to generating carbon-offset credits from forests. Read more

Kimmeridge Carbon Solutions to seed Chestnut with up to $200 million Chestnut announces concurrent strategic acquisition of Forest Carbon Works, a differentiated developer of forest carbon offsets Forest Carbon Works focuses on ecological stewardship and unlocking access to carbon finance for small and family landowners – who collectively control nearly 300 million acres of U.S.…