- $160M Series B Raise: Chestnut Carbon to scale afforestation projects and sequester 100M tons of carbon.
- Strategic Growth: Funding supports land acquisitions, tech innovations, and talent expansion.
- High-Integrity Carbon Credits: Projects generate Gold Standard® verified credits for sustainability-driven corporations.
Chestnut Carbon, a U.S.-focused nature-based carbon removal developer, has raised $160 million in a Series B round. The investment will accelerate its afforestation initiatives, targeting the sequestration of 100 million tons of carbon over the lifespan of its Sustainable Restoration Project.
Who’s investing:
The financing round includes existing investor Canada Pension Plan Investment Board, along with new investors Cloverlay and DBL Partners. Additional backing comes from university endowments, family offices, funds of funds, and institutional investors via Chestnut’s founding firm, Kimmeridge.
Related Article: KIMMERIDGE LAUNCHES CHESTNUT CARBON TO CREATE HIGH-QUALITY NATURE-BASED CARBON OFFSETS
Why it matters:
Chestnut transforms underutilized agricultural and pastureland into sustainable forests, generating high-integrity, Gold Standard® verified carbon credits. These credits support corporations striving for decarbonization and net zero commitments.
“When we launched Chestnut in 2022, we endeavored to fill a critical void by offering high-integrity, nature-based carbon offset solutions. It is extremely rewarding to see what we have achieved since then, bringing a differentiated offering to the market,” said Ben Dell, CEO of Chestnut and Founder and Managing Partner of Kimmeridge.
Where the capital goes:
- Land Purchases: Since 2022, Chestnut has acquired 35,000+ acres of land across six states (AR, LA, AL, MS, OK, TX) to fast-track project execution.
- Tech Innovation: Proprietary data models and patented technology optimize land selection, forest inventory collection, and carbon modeling, ensuring accuracy and efficiency.
- Talent Expansion: Chestnut continues to build a high-caliber team across forestry, carbon regulation, finance, and land management.
“With our investment in Chestnut, we see the potential to raise the bar by helping to create the industry leader in providing high-quality carbon offsets at scale, delivering economic and quality-of-life benefits to rural communities, and opportunities to strengthen the health and resilience of our land,” said Nancy Pfund, Founder and Managing Partner at DBL Partners.
“Chestnut’s innovative approach to carbon removal solutions and measurable environmental impact are paving the way for a more sustainable future, and we are proud to partner with them to help scale their efforts and drive meaningful progress,” said Kendra Corbett, Partner at Cloverlay.
The big picture:
Chestnut Carbon’s latest funding reinforces its position as a leader in the carbon offset market, providing scalable solutions for businesses committed to sustainability and climate action.
Follow ESG News on LinkedIn
The post Chestnut Carbon Secures $160M to Expand U.S. Afforestation Projects and Carbon Removal Efforts appeared first on ESG News.
