Chestnut Carbon, a nature-based carbon-removal developer, has raised $160 million in a series B financing to grow its afforestation capacity and sequester an estimated 100 million tons of carbon throughout the life of its sustainable restoration project.
The financing round includes existing investor Canada Pension Plan Investment Board, as well as new investors Cloverlay and DBL Partners. Additional participation came from limited partners of Chestnut’s founding firm, Kimmeridge, including university endowments, family offices, funds of funds and other institutional investors.
Chestnut develops new forests on marginal crop and pasture lands and is distinguished among afforestation project developers, given its U.S. focus and emphasis on creating long-lasting ecosystems and extensive co-benefits. The Sustainable Restoration Project generates rigorous, verified carbon credits to support sustainability-oriented corporations committed to decarbonization and net-zero goa
