Latest news with #ChestnutCarbon
Indian Express
15-05-2025
- Automotive
- Indian Express
How Mercedes' latest material innovation pushes F1 sustainability forward
Written by Somya Panwar For 75 years, Formula One has thrived on innovation — much of it engineered for performance, speed, and spectacle. But the Mercedes-AMG PETRONAS F1 Team is adding another layer to that legacy: sustainability. In a landmark move that aligns with F1's shifting environmental priorities, Mercedes announced that by 2025, their W16 challenger will feature use of sustainable carbon fibre composites — marking the first time in the sport's history that this scale of sustainable material will be integrated into a Formula One car. The initiative, driven in part by Mercedes' commitment to achieving net-zero carbon by 2040, isn't just about optics. Roughly 75% of the team's race car will soon be composed of sustainable carbon fibre. 'When you combine performance and innovation, you create progress,' Toto Wolff, CEO of Mercedes-AMG PETRONAS F1 Team and Head of Mercedes-Benz Motorsport, said in a statement. 'I am proud to lead a team of problem solvers who are committed to driving sustainable changes.' The material itself is engineered from two essential components — fibres and a resin system. Typically, the composite is made up of 60% fibres and 40% resin, cured into a lightweight but durable material capable of withstanding the stress of elite motorsport competition. Mercedes' longstanding partner, Petronas, is onboard as well, aligning its own green fuel development with the team's sustainability push. The latest project sees Mercedes collaborate with Chestnut Carbon, an organization focused on ecological restoration and carbon removal. Two separate programs are underway: one targeting the carbon fibre material and another improving the sustainability of the resin system. 'This commitment is reflected in our ownership of the land and our 100-year project design,' said Ben Dell, CEO of Chestnut Carbon. 'We have developed a comprehensive Community Engagement plan to ensure transparent communication and positive relationships with the local stakeholders, reinforcing our dedication to both environmental stewardship and community support.' As part of this effort, Mercedes has committed to purchasing 5,500 tonnes of carbon removal credits between 2027 and 2030. The project is supported by a network of four to eight suppliers for each component of the composite material, and each part must still pass the FIA's rigorous performance testing before hitting the grid. 'We are proud to be at the forefront of sustainable innovation within our sport,' said Alice Ashpitel, Head of Sustainability at Mercedes. 'Leadership must be driven by innovation, and our team's efforts in this space are the latest demonstration of our ambition to become one of the world's most sustainable global sports teams.' Mercedes is exploring applications of these sustainable materials in industries like aviation and aerospace—an evolution of F1's role as a high-speed laboratory for change. As per sustainability magazine, Ben Dell, CEO of Chestnut Carbon commented: 'This commitment is reflected in our ownership of the land and our 100-year project design. Additionally, we have developed a comprehensive Community Engagement plan to ensure transparent communication and positive relationships with the local stakeholders, reinforcing our dedication to both environmental stewardship and community support.' (The writer in an intern with the Indian Express)
Yahoo
24-03-2025
- Business
- Yahoo
Developer scores $160 million to revitalize degraded farmland: 'Another positive step'
Nature-based carbon removal developer Chestnut Carbon scored two big wins to push it closer to its carbon credit capacity goal. With more companies committed to reducing their pollution, demand has surged for high-quality carbon credits. Carbon removal companies such as Chestnut are stepping up by selling credits to companies seeking to cancel out the pollution they generate through high-emission activities such as data center operations. Chestnut, in particular, acquires old and degraded farmland and plants trees to transform those areas into forests. From 35,000 acres in the Southeastern United States, Chestnut hopes to have more than 100,000 acres of restored forest by 2030, according to TechCrunch. Its main goal is to increase its carbon credit capacity to around 110 million tons — a huge step toward reducing carbon pollution and achieving cleaner air. In January, Microsoft signed a 25-year deal with Chestnut, essentially expanding an earlier agreement the two parties inked in 2023. "This agreement with Chestnut Carbon is another positive step towards Microsoft's goal to become carbon negative by 2030," Brian Marrs, senior director of energy and carbon removal at Microsoft, said. The deal grants Microsoft seven million carbon credits, according to TechCrunch. Chestnut has already allocated funds to purchase and rehabilitate 60,000 acres of land in Arkansas, Texas, and Louisiana. A couple of weeks after the Microsoft deal, Chestnut announced it raised $160 million in Series B funding for expanding its mission of restoring degraded farmland into thriving forests. Led by the Canada Pension Plan Investment Board, which committed $30 million, the investment round also included backing from Cloverlay, DBL Partners, and others. Chestnut's goal to reach roughly 110 million tons in carbon credits represents a meaningful contribution to a more resilient future. Its efforts also benefit consumers by helping create cleaner air and contributing to healthier communities. With increasing investments in carbon removal strategies, the transition to a greener Earth is becoming more feasible. As corporations such as Chestnut and Microsoft take action and lead the way to a more eco-friendly future, consumers can also do their part by supporting eco-friendly initiatives. Does seeing a product labeled with its carbon footprint make you more likely to buy it? Definitely Only if the carbon footprint is small Only if I understand the label Not at all Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Associated Press
26-02-2025
- Business
- Associated Press
Chestnut Carbon Announces First Issuance of Credits from Forest Conservation Membership Program
Chestnut Carbon has issued and sold more than 64,000 tons of Improved Forest Management (IFM) carbon removal credits totaling $2.2 million to global financial services companies. NEW YORK, Feb. 26, 2025 /PRNewswire/ -- Chestnut Carbon ('Chestnut'), a leading developer of nature-based carbon removal solutions, announced today that they have completed the first issuance and sale of Improved Forest Management (IFM) credits sourced from their conservation membership program branded as Forest Carbon Works. The issuance of more than 64,000 credits, or tons of carbon removal, were sold to multiple corporate buyers, including JPMorganChase. These transactions totaled $2.2 million. Chestnut's U.S.-based IFM membership program, Forest Carbon Works, provides an opportunity for private forest owners to access income-generating carbon markets while preserving the integrity and legacy of their land. The program includes landowners in 36 states with more than 150,000 acres enrolled as of February 2025. These carbon removal credits are certified through Verra on the voluntary carbon market (VCM) and undergo rigorous third-party audits. Chestnut's conservative methodology underlies carbon removal credits which are highly additional and more durable than most IFM projects in the market today. 'We're extremely proud to bring this issuance of IFM carbon removal credits to market,' said Ben Dell, CEO of Chestnut Carbon and Managing Partner of Kimmeridge. 'The high quality and integrity of our product offering is reflected in the premium pricing we're receiving for our credits.' Chestnut's carbon removal represents the highest quality IFM product available: 100% Carbon Removal: Unlike most IFM credits, which represent a blend of avoidance and removal measurement, Chestnut only sells credits measuring carbon removal. These represent emissions removed from the atmosphere and sequestered in new growth, aligning with what many sustainability-focused buyers are looking for today; Highly Additional: Chestnut's conservation membership program protects at-risk forests across the U.S. and provides landowners with an alternative revenue stream for conservation instead of harvesting their timber; and Longer Duration: Long-term conservation easements attached to member land deeds ensure carbon is stored for 60+ years. This extended timeframe surpasses most existing IFM programs available in the market (typically 40 years), providing buyers with a reliable and lasting impact on carbon removal. About Chestnut Carbon Chestnut Carbon ('Chestnut') is a leading developer of nature-based carbon removal credits. Founded in 2022 with the support of energy-focused alternative asset manager Kimmeridge, Chestnut generates U.S.-based, high-quality forest carbon offsets that are additional and verifiable to accelerate the path to net zero across a range of industries. Chestnut uses a proprietary, technology-enabled approach to developing forest carbon offset projects on family-owned forestland and marginal crop and pastureland. Chestnut's expertise is driven by an experienced team, whose diverse backgrounds include forestry, carbon regulation, environment, finance and land management. For additional information on Chestnut, its strategies and environmental stewardship, please visit
Yahoo
30-01-2025
- Business
- Yahoo
Chestnut Carbon Inks Deal with Microsoft for Groundbreaking New Carbon Removal Project
Chestnut Carbon has entered a new long-term agreement with Microsoft to provide high-quality, nature-based carbon removal from its afforestation, reforestation, and revegetation (ARR) project in the Southern U.S. This agreement, one of the largest ARR offtakes in the U.S., spans 25 years and will deliver over 7 million tons of carbon removal credits. NEW YORK, Jan. 30, 2025 /PRNewswire/ -- Chestnut Carbon ("Chestnut"), a nature-based carbon removal developer, today announced a new long-term offtake agreement to provide Microsoft with high-quality, nature-based carbon removal derived entirely from Chestnut's ARR project located in the Southern United States, including Arkansas, Texas, and Louisiana. This agreement reflects one of the largest carbon removal projects in the U.S., inclusive of both nature-based and engineered solutions, and is in addition to the initial agreement executed between Chestnut and Microsoft in December 2023. This new carbon removal purchase agreement involves multiple phases with forward-starting 25-year terms that will result in more than 7 million tons of U.S.-based carbon removal credits delivered to Microsoft over the offtake term. The agreement is estimated to restore roughly 60,000 acres of land by planting over 35 million native, biodiverse hardwood and softwood trees. "We're excited to be expanding our collaboration with Microsoft given their market leadership in net zero commitments and the signing of a second agreement within the span of a year reaffirms their view that Chestnut is delivering high quality removal credits," said Ben Dell, CEO of Chestnut and Managing Partner of Kimmeridge. "We're confident in our belief that nature-based afforestation solutions are the most attractive, scalable, and cost-effective means for removing carbon from the atmosphere today. We continue to bring high-quality credits to market for discerning customers and look forward to building on our leading position in the market." The Chestnut Sustainable Restoration Project is distinguished among nature-based projects in the U.S. due to its focus on creating a long-lasting ecosystem of native forests at scale. With Microsoft's offtake from the project, Chestnut is on track to grow its ARR portfolio to 500,000 acres by 2030 and remove 100 million tons of CO2 from the atmosphere over a 50-year crediting period. "This agreement with Chestnut Carbon is another positive step towards Microsoft's goal to become carbon negative by 2030. We look forward to the prospect of scaling forest restoration within the United States, attracting sophisticated private capital in the process. We are glad to see the Sustainable Restoration Project diversify the ecological impact of our global carbon removal portfolio," said Brian Marrs, Senior Director of Energy & Carbon Removal at Microsoft. Key to Chestnut's Sustainable Restoration Project: High quality, removal-based credits: The project is registered with Gold Standard. Resulting credits are issued per carbon removal measurements, not emissions avoidance; Durability: Chestnut stands behind the durability of its carbon sequestration through long-term conservation of the land, planting biodiversity and risk mitigation practices; Additionality: The project restores marginal agricultural lands to native forests. These lands would not be restored in the absence of the global carbon credit market; and Environmental and stakeholder benefits: The project delivers improvements to native wildlife habitats and air and water quality; expands land use alternatives; and emphasizes ongoing community engagement and economic development. About Chestnut CarbonChestnut Carbon ("Chestnut") is a leading developer of nature-based carbon removal credits. Founded in 2022 with the support of energy-focused alternative asset manager Kimmeridge, Chestnut generates high-quality U.S.-based forest carbon offsets that are additional and verifiable to accelerate the path to net zero across a range of industries. Chestnut uses a proprietary approach to developing forest carbon offset projects on family-owned forestland and marginal crop and pastureland. Chestnut's expertise is driven by an experienced team, whose diverse backgrounds include forestry, carbon regulation, environment, finance and land management. For additional information on Chestnut, its strategies and environmental stewardship, please visit Media:Chris AllieriMulberry & Astorchris@ View original content to download multimedia: SOURCE Chestnut Carbon Sign in to access your portfolio
