Sustainable infrastructure capital provider Nexus Development Capital announced a $5 million investment in carbon removal startup Standard Biocarbon, aimed at supporting the development and scaling of its new biochar production facility.
Biochar, or biological charcoal, is produced by heating biomass, such as forest residue, wood or crop waste, in the absence of oxygen, creating a stable form of carbon, which when buried in soil enables centuries-long carbon sequestration, in addition to leading to improved soil fertility.
Joshua Kaufman, CEO of Nexus Development Capital said:
“Biochar is one of the most cost-effective and commercially ready approaches for removing CO2 from the atmosphere. Scaling these types of carbon removal facilities is now one of our biggest opportunities. We see Standard Biocarbon as one of the first to bring these in-demand carbon sequestration solutions online to meet the huge appetite across multiple sectors.”
Founded in 2020 by veteran sustainability entrepreneurs and brothers Fred and Tom Horton, Maine-based Standard Biocarbon produces biochar from source-verified sawmill residuals from the working forests of Maine, enabling sawmill residuals to be converted into a higher value and versatile commodity, with applications ranging from soil improvement and animal feed additive to an alternative concrete ingredient and for PFAS (or “forever chemical”) and heavy metal remediation.
Continue reading at ESG Today