Carbon Removal Startup Standard Biocarbon Raises $5 Million to Launch U.S. Biochar Production Facility
Sustainable infrastructure capital provider Nexus Development Capital announced a $5 million investment in carbon removal startup Standard Biocarbon, aimed at supporting the development and scaling of its new biochar production facility.
Biochar, or biological charcoal, is produced by heating biomass, such as forest residue, wood or crop waste, in the absence of oxygen, creating a stable form of carbon, which when buried in soil enables centuries-long carbon sequestration, in addition to leading to improved soil fertility.
Joshua Kaufman, CEO of Nexus Development Capital said:
“Biochar is one of the most cost-effective and commercially ready approaches for removing CO2 from the atmosphere. Scaling these types of carbon removal facilities is now one of our biggest opportunities. We see Standard Biocarbon as one of the first to bring these in-demand carbon sequestration solutions online to meet the huge appetite across multiple sectors.”
Founded in 2020 by veteran sustainability entrepreneurs and brothers Fred and Tom Horton, Maine-based Standard Biocarbon produces biochar from source-verified sawmill residuals from the working forests of Maine, enabling sawmill residuals to be converted into a higher value and versatile commodity, with applications ranging from soil improvement and animal feed additive to an alternative concrete ingredient and for PFAS (or “forever chemical”) and heavy metal remediation.
According to the company, the new investment will be used to scale operations at its facility in Enfield, Maine. Standard Biochar expects to begin producing biochar in the first quarter of 2024 and is estimated to produce 16,000 cubic yards of biochar and capture 3,000 tons of carbon a year.
Fred Horton, CEO and co-founder of Standard Biocarbon said:
“This investment by Nexus Development Capital has enabled Standard Biocarbon to complete one of the most advanced and efficient biochar plants in the world. We’re seeing incredible interest in a consistent supply of our high-quality purpose-made biochar, which until now has been nearly impossible to find.”