Chestnut Carbon, a nature-based carbon removal startup, has raised $160 million in Series B funding to scale its operations. The company specializes in acquiring marginal and degraded farmland, planting native trees, and generating carbon credits. With the rising demand for carbon credits from tech companies amid increasing emissions from data centers, Chestnut aims to expand its carbon credit capacity significantly. The funding will allow the organization to manage over 35,000 acres and work towards a 2030 target of 100 million metric tons of carbon capacity, backed by a recent partnership with Microsoft.
"Chestnut Carbon aims to transform marginal farmland into forests, producing carbon credits to meet the demand from tech companies offsetting emissions caused by rapid data center expansion."
"The $160 million raised is a significant boost for Chestnut Carbon, aiming to expand its carbon credit capacity to 100 million metric tons by 2030."
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