4.6 C
London
Sunday, March 3, 2024
HomeBusinessBarclays and Shell fund carbon removal startup Agricarbon

Barclays and Shell fund carbon removal startup Agricarbon

  • Funding from FTSE 100 and Barclays
  • Agricarbon secures £9 million
  • Global market potential: $175 billion

In addition to units of two FTSE 100 companies, the Dundee-based startup has secured £9 million in Series A funding from these entities.

Two FTSE 100 companies are providing financial support to Agricarbon, a company specializing in soil carbon measurement. Agricarbon’s mission is to aid in accelerating efforts to achieve net-zero emissions objectives.

Agricarbon will announce a £9 million Series A financing round involving units of Barclays and Shell at the COP28 climate summit in Dubai this week.

Leadership and Growth

Established by Annie Leeson and Stewart Arbuckle to capitalize on the capacity of soil to sequester substantial amounts of carbon emissions, the organization has also received support from specialized agricultural funds, such as Ananke and the Nest family office.

In an unusual move for an early-stage firm, two of the UK’s largest public companies invested. It was led by Shell Ventures and included Barclays Sustainable Impact Capital.

By 2030, the global market for soil carbon removals could be worth $175 billion, according to estimates.

Agricarbon, whose clientele includes significant food and beverage companies and carbon project developers, reports a threefold increase in revenue this year due to businesses’ heightened demand for its measurement services as they strive to reduce carbon emissions in their supply chains.

“Take a step towards financial freedom – claim your free Webull shares now!”

In 2021, the Dundee-based company commenced commercial operations.

Ms. Leeson emphasizes that to secure additional funding for extensive soil carbon restoration, stakeholders must substantiate benefit claims and credits. This requires using primary data. The data should be independent, highly consistent, and possess high integrity.

“Investment from two major stakeholders, Shell and Barclays, validates the necessity for our data to instill food companies, carbon buyers, and financial markets with confidence in soil carbon removals.”

The expansion of Agricarbon’s service acts as a catalyst for the development of sustainable market incentives: it enables landowners and farmers to obtain more excellent value in the form of tangible carbon removals while also ensuring that investments in natural capital can be directed towards areas that provide authentic and significant climate benefits.

Broadening Agricarbon’s Reach

A US business that services significant US projects will be established with some of the additional money.

Additionally, the business is strategizing a broader geographic turnpike.
Adelpha, an advisory firm working with high-growth companies headquartered in the United Kingdom, advised Agricarbon on the transaction.

Adelpha’s founder and chief executive, Addie Pinkster, remarked, “The carbon removal infrastructure market is sizable and expanding, with a growing emphasis on the utilization of agricultural soils to extract additional carbon dioxide from the atmosphere.”

According to estimates, the implementation of regenerative farming practices on agricultural lands has the potential. It can sequester one to five gigatonnes (billion tonnes) of carbon dioxide annually.

Boris Johnson’s sister criticizes COVID inquiry ‘scapegoating’ senior officials

RELATED ARTICLES

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Popular

Drone hits Russian apartment block; Ukraine blamed

Early on Saturday, one hundred individuals were evacuated after a residential building in St. Petersburg was struck by a drone. On Saturday morning, a Russian apartment building consisting of five stories was struck by a drone, prompting certain Russian media outlets to attribute the incident to Ukraine. St. Petersburg building occupants reported an eerie explosion, followed by a fire, shortly after 7:00 a.m. local time.

Rare Werner goal ignites Tottenham comeback win over Palace

What was it like to witness the transformation of water into wine at that ceremony in Cana? How did it feel to be in Smyrna when the flames refused St. Polycarp's body to consume? Are the sacred waters of Lourdes truly curative for lameness? As it happens, miracles do occur, and one of the most unlikely occurred at the Tottenham Hotspur Stadium when Timo Werner scored.

Protection of climate refugees requires legal definition

Amidst the panels and meeting rooms of the United Nations Climate Conference (COP28) in Dubai the previous year, the phrases "climate migrants" and "climate refugees" reverberated significantly. Prominent United Nations officials, external stakeholders, academicians, and activists contending with climate change's repercussions enthusiastically employed these designations. 

Clapham shooting: Moped pursuit gun drops wound two women

Two women were injured when a fallen firearm discharged during a police pursuit of a moped. At 16:55 GMT on Friday, the Metropolitan Police reported that officers were pursuing two individuals who failed to stop in Clapham. According to the force, the moped also collided with an individual from the public and subsequently crashed.

Recent Comments