Standard Biocarbon Raises $5M in Funding
Summary
Nexus Development Capital, a provider of catalytic capital for sustainable infrastructure project developers, made a $5M investment in Portland, ME-based biochar producer Standard Biocarbon. The funding will enable the company to scale operations at its facility in Enfield, Maine to meet the growing demand for carbon capture and biochar. Biochar, a charcoal-like material, is produced by heating organic matter to an extremely high temperature in a low-oxygen environment. In addition to the multiple established agricultural applications, biochar can be used in hazardous waste remediation, stormwater management and in low-carbon cement, pavement and polymers. Standard Biocarbon’s plant utilizes state-of-the-art technology to efficiently produce biochar of consistently high quality and to create the highest value CDR.