View original ↗on chestnutcarbon.com
deal · 20 December 2023
Microsoft ↔ Chestnut Carbon
Microsoft: a stated intent to buy of 362,000 to 2,700,000 t of afforestation/reforestation removal from Chestnut Carbon.
BuyerMicrosoft
SupplierChestnut Carbon
Tonnes362,000 to 2,700,000 t
Capture pathwayAfforestation/reforestation
Storage mediumunknown
Commitment typeintent (a memorandum or letter, not a contract)
Deal structureofftake
Transaction evidenceNEW YORK, Dec. 20, 2023 /PRNewswire/ Chestnut Carbon ( Chestnut ), a nature-based carbon removal developer founded by private investment firm Kimmeridge Energy Management Company, LLC ( Kimmeridge ), today announced that it has entered into a multi-year offtake agreement to provide Microsoft (NASDAQ: MSFT) with high-quality, nature-based carbon removal derived entirely from a novel afforestation p
Source pathway descriptionhigh-quality, nature-based carbon removal derived entirely from a novel afforestation project based in the United States
Delivery window15-year offtake agreement
Project locationUnited States
NotesVolumes are stated in 'tons', and the source does not say whether these are metric tonnes. Phase I volume is 362,000 tons of 'projected' carbon removal from the Sustainable Restoration Project Phase I. The figure of 'up to 2.7 million tons in aggregate across subsequent phases' is ambiguous: it is unclear whether it includes Phase I and whether the later phases are firm or optional. tonnes_max ref
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