✉news BusinessStartups first seen 4 d ago, last 4 d ago, peak #2
Citi closes $72M carbon-removal note for Applied Carbon
Original: Citi closes first $72M carbon-removal note for Texas biochar startup Applied Carbon
Citi has completed its first $72 million carbon-removal note, with the proceeds going to Applied Carbon, a Texas startup that produces biochar to lock carbon into soil. The deal is being noted as an early example of structured finance being used to fund carbon removal, and a signal that banks are becoming more directly involved in the climate-finance market.
Why now: It marks Citi's first use of this financing structure for carbon removal, a notable step in climate finance.
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