NetZero Locks In $18M Investment from STOA To Open New Biochar Facilities In Brazil

NetZero Locks In $18M Investment from STOA To Open New Biochar Facilities In Brazil - Carbon Herald

NetZero – a leading biochar production company, announced a new investment agreement reached as part of French President Emmanuel Macron ‘s state visit in Brazil. The company has signed a deal with STOA – a French infrastructure and impact fund for 18 million euros ($19.4 million) to expand biochar production in tropical areas. 

NetZero is operating a full-scale pilot plant in Nkongsamba, in the Littoral region of Cameroon which is Africa’s first industrial-scale biochar production facility. It is next to Cameroon’s largest coffee-processing plant, which gives the company direct access to coffee husks and other abundant waste products from coffee. 

Relevant: NetZero Biochar Carbon Removal Startup Raises €11M In Series A

NetZero’s second production plant is located in Lajinha, Brazil and was officially inaugurated in April 2023. The company is building a second production plant in Brazil, currently under construction and plans to develop several new sites in Brazil in 2024 with some additional R&D improvements. 

The investment will facilitate the company’s production sites deployments at scale and will bring it closer to its goal of removing over 5 million tonnes of CO2 from the atmosphere by 2030. NetZero plans to deploy hundreds of production sites in the coming years n Brazil which is highlighted as a key market for the company. 

Relevant: NetZero Opens Second Biochar Factory In Brazil

“This transaction is an important step towards the concretisation of several of our objectives and, together, we will bring solutions to address some of the major stakes that developing countries currently face,” commented Axel Reinaud, Co-founder & CEO of NetZero. 

NetZero is also a new chapter for STOA, as it opens new opportunities for biochar infrastructure investments in emerging countries, according to Marie-Laure Mazaud, Managing Director of STOA.

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