Brazil startup re.green partners with Agro Penido to reforest land in Amazon; generating carbon credits

From Investing.com: 2025-01-13 04:10:37

Private equity-backed reforestation startup re.green partners with Agro Penido to restore 600 hectares of land in Brazil with Amazon rainforest species. This is part of a trend in Brazil involving startups and major companies buying land to restore forests, generating carbon credits. Google, Microsoft, Meta, and McLaren have purchased credits from Brazilian projects.

Re.green, supported by Brazilian billionaire Joao Moreira Salles and other investors, aims to restore 1 million hectares in Brazil. Their deal with Agro Penido near the Xingu Indigenous Park in Mato Grosso could produce 300,000 carbon credits over decades, each representing a metric ton of carbon dioxide removal. Credits can be sold at a premium of $50 to $100 each.

Agro Penido, with a joint venture with SLC Agricola, plans to expand its soybean, corn, and cotton production to 65,000 hectares by 2027/28. The company sees the partnership with re.green as a positive start and is considering expanding the project on their other lands.



Read more at Investing.com: Brazil startup partners with agro firm to reforest degraded Amazon land By Reuters