AirSeed Technologies, an environmental restoration company, has partnered with Conscious Investment Management (CIM) to establish a carbon sequestration fund of up to $200 million, according to a press release.
This marks AirSeed's first large-scale contract with a leading impact investment manager and is expected to generate meaningful upfront revenue for the company over the next five years.
Largest Carbon Sequestration Fund
The partnership between AirSeed and CIM is seen as key to creating one of the largest carbon sequestration funds of its kind. AirSeed's hyper-productive planting solution has been validated by the partnership, which further strengthens its value proposition for large-scale applications.
In order to execute this milestone contract and scale the business to maximize this transformative opportunity, AirSeed is launching its Series A capital raise to provide additional funds.
AirSeed is already partnering with leading Australian brands, including Telstra and Treasury Wine Estates' brand St Hubert's The Stag. It is collaborating with Telstra to establish environmental plantings for a 240-hectare project that will capture approximately 160,000 tons of carbon over 25 years.
Meanwhile, it will plant 100,000 seed pods for St Hubert's The Stag brand this year.
AirSeed said it is experiencing growing demand for its rapid-response large-scale reforestation and revegetation solutions. The company's individual and business sustainability memberships have been in high demand as well, as the world is starting to take climate change seriously.
100 Million Pods
The company is on track to achieve 100 million pods planted by 2024. Pilot projects are already underway in Australia, covering more than 650 hectares, including one of the largest environmental plantings to date in the country.
"Securing an agreement to work with CIM as it establishes one of the largest carbon sequestration funds of this type is important validation of our value proposition for large-scale application of our solution and brings us significantly closer to our 100 million planting goal by 2024," said AirSeed CEO and Co-Founder Andrew Walker.
The partnership with CIM has also attracted the attention of corporate investors who see the same economic and environmental opportunities. AirSeed is currently in dialogue with a number of these investors and is capitalizing on this unique and critical opportunity at scale.
The company's launch of its Series A funding round will help drive AirSeed's delivery of this massive opportunity and continue the transformation of its business to meet the rapidly growing demand for reforestation and replanting opportunities at the scale necessary to shift the dial on climate change.
AirSeed and CIM's restoration and carbon sequestration projects are expected to have a positive impact on the environment and will generate significant upfront revenue for AirSeed. The partnership is also expected to attract more investors to the cause of mitigating climate change.
Related Article : This Montreal Tech Company is Producing Concrete Blocks that Remove Carbon Dioxide from the Atmosphere
