Nexus Development Capital Invests $5M in Standard Biocarbon
Nexus Development Capital, a catalytic capital provider for sustainable infrastructure projects, has invested $5 million in Standard Biocarbon, a biochar producer based in Portland, Maine. The infusion of funds aims to facilitate the expansion of Standard Biocarbon’s Enfield facility, responding to the rising demand for carbon capture and biochar. Commencing production in Q1 2024, Standard is projected to yield 16,000 cubic yards of biochar annually, capturing an estimated 3,000 tons of carbon.
Standard Biocarbon, established in 2020 by sustainability entrepreneurs Fred Horton and Tom Horton, focuses on creating scalable commercial biochar manufacturing capabilities in North America. Biochar, a charcoal-like substance produced by heating organic matter at high temperatures in a low-oxygen environment, serves as a long-term carbon storage solution. By reintroducing biochar into the soil, carbon is permanently sequestered, presenting an immediate and commercially scalable approach to carbon removal. Beyond its established applications in agriculture, biochar finds utility in hazardous waste remediation, stormwater management, and as a component in low-carbon cement, pavement, and polymers.
Utilizing advanced technology, Standard Biocarbon’s plant ensures efficient production of consistently high-quality biochar, contributing to the highest value in Carbon Dioxide Removal (CDR).
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