The Next 150 Agrees Deal to Supply Carbon Credits to Shell Environmental Products

Mar 6, 2024

The Next 150 has entered into a 5-year agreement to supply Shell Environmental Products with carbon removal credits, generated from biochar at its large-scale commercial facility in Mexico.

The deal for up to 22,500 CO2 removal credits is amongst the first purchases of carbon removal credits from Mexico’s largest biochar project.

“Shell Environmental Products’ support marks a significant step forward in our strategy to scale the biochar pathway of carbon removal across Latin America. Large volume as well as long-term offtake agreements from global companies are key to unlocking growth capital and project finance in the global south,” said Patrick Atanasije Pineda, Managing Partner at The Next 150.

Biochar production is a technological approach in which carbon is captured from the atmosphere through photosynthesis by biomass. The biomass, in this case agricultural waste, is then thermochemically processed into stable carbon that can be stored long-term in soil or incorporated in construction materials.

Continue reading at the next 150