TechCrunch Startup News Chestnut Carbon gets $160M to turn old farms into forests
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Feb 13, 2025 A company is revolutionizing the carbon credit market by turning degraded farmland into lush forests. They've just secured $160 million in funding to support their ambitious expansion efforts. As tech giants like Microsoft seek carbon credits, the demand is skyrocketing. This innovative approach not only benefits the environment but also meets the rising corporate need for sustainability.
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Carbon Removal Strategy
- Chestnut Carbon buys degraded farmland and plants trees to harvest carbon credits.
- This approach addresses the increasing demand for carbon offsets, especially from tech companies.
Carbon Credit Demand
- Carbon credits are in high demand, particularly among tech companies offsetting emissions.
- Data center expansion for cloud and AI contributes to this demand.
Chestnut Carbon's Origins
- Chestnut Carbon received initial funding from Kimmeridge, an oil and gas investment firm.
- Kimmeridge, seeing the potential in carbon credits, acquired Forest Carbon Works, expanding into carbon credit projects.