SUNYA SCOOP

Microsoft and Chestnut Carbon

January 30, 2025

Chestnut Carbon Inks 25-Year Carbon Removal Deal with Microsoft

  • Large-Scale Commitment: 7M+ tons of CO₂ removed over 25 years, covering 60,000 acres with 35M trees planted.

  • Scaling Impact: Chestnut aims to restore 500,000 acres and remove 100M tons of CO₂ by 2030.

  • Microsoft’s Climate Strategy: Supports its net-negative carbon goal by 2030, diversifying its carbon removal portfolio.

  • Verified Carbon Credits: Project will register Gold Standard credits with biodiversity planting and land conservation.

Manulife Investment Closes $480M Forest Climate Fund

  • Fund Size: The Manulife Forest Climate Fund LP secured $480.1M in its final close from global institutional investors.

  • Carbon Sequestration: Targets 6M+ metric tons of CO₂ removal, providing durable carbon credits for offset sales and in-kind distributions.

  • Key Acquisitions: Eagle Cap (Oregon) for sustainable forestry, Siscowet (Michigan) for carbon credit generation, and Oak Bluff (MS, LA, AR) for mixed-income strategies.

  • Market Strategy: Manulife IM positions forests as a leading natural climate solution, offering investors diversified private market exposure.

Verde Clean Fuels Secures $50M Equity Investment from Diamondback's Cottonmouth Ventures

  • Strategic Investment: Cottonmouth Ventures, a subsidiary of Diamondback Energy, acquired 12.5M shares of Verde at $4.00/share, increasing its total investment to $70M.

  • Project Expansion: Funds will accelerate natural gas-to-gasoline plant development, utilizing Verde’s STG+ technology to convert Diamondback’s gas into refined gasoline.

  • Board Expansion: Cottonmouth gains Board representation, appointing Johnny Dossey as a director.

  • Sustainability Focus: Strengthens Diamondback’s low-carbon energy strategy while advancing Verde’s syngas-to-liquid fuels innovation.

Earth AI Closes $20M Round to Scale AI-Powered Mineral Exploration

  • Investor Backing: Series B round led by Tamarack Global & Cantos Ventures, with participation from Y Combinator, Overmatch, Alpaca, and Sparkwave.

  • Scaling Operations: Funding expands AI-driven drilling to 100,000+ meters/year, slashing exploration costs by 80%.

  • High Success Rate: Earth AI’s 75% mineral discovery success outperforms the 0.5% industry average.

  • Growth Plans: Targets 50+ mining sites, leveraging AI & satellite data for critical mineral discovery in the booming $10T clean energy metals market.

VEIR Secures $75M Series B to Revolutionize Power Infrastructure

  • Backed by Munich Re Ventures and Microsoft Climate Innovation Fund, VEIR aims to scale superconducting solutions for AI and utilities.

  • Technology delivers 10x power density of traditional cables, boosting grid efficiency and resilience.

  • Designed to address growing energy demand from AI models and renewable energy integration.

Snowfox Discovery Secures Series A from bp Ventures & Rio Tinto for Natural Hydrogen

  • Major Investment: Backed by bp Ventures, Rio Tinto, and Oxford Science Enterprises to scale natural hydrogen exploration.

  • Clean Hydrogen Focus: Targets low-carbon subterranean hydrogen as a viable alternative to fossil fuels.

  • Technology Development: Funds will expand operations, accelerate R&D, and reach commercialization milestones.

  • Academic & Industry Backing: Founded by Durham & Oxford scientists, combining geoscience with energy expertise.

National Grid Renewables Begins Operations at Two Minnesota Solar Projects

  • Project Scale: The Fillmore County Solar and Louise Solar projects generate a combined 95 MW of solar power.

  • Economic Impact: Expected to generate $30M+ in economic benefits, $4M in tax revenue, and $380K for local schools over 20 years.

  • Sustainability: The projects will prevent 2M metric tons of CO₂ emissions, equivalent to taking 568,000 cars off the road annually.

Hull Street Energy Acquires 300 MW of NY Power Plants from J-Power USA

  • Acquisition Scope: Hull Street Energy acquired four thermal power plants (Edgewood, Shoreham, Pinelawn, Equus Power I) totaling 300 MW in Long Island.

  • Expanding Portfolio: The acquisition boosts Hull Street’s energy assets to 2,590 MW of gas-fired and dual-fueled capacity.

  • Strategic Importance: The plants supply reliable power to Long Island, ensuring grid stability in a high-demand region.

Canadian Natural Resources Acquires Full Control of AOSP Mines in Swap with Shell

  • Asset Swap: Canadian Natural trades 10% of Scotford Upgrader & Quest CCS for Shell’s 10% stake in AOSP mines—bringing AOSP ownership to 100%.

  • Production Boost: The deal adds 31,000 bbl/d to Canadian Natural’s output, with no cash exchanged except for standard closing adjustments.

  • Strategic Positioning: Strengthens long-life oil sands holdings, enhances export flexibility via Trans Mountain Expansion & U.S. Gulf Coast.

Elk Range Royalties Expands Portfolio with Strategic Permian & Eagle Ford Acquisition

  • Asset Growth: Acquired 13,500 net royalty acres in Permian (4,500 acres) & Eagle Ford (3,000 acres), boosting Elk Range's 58,000-acre portfolio.

  • Production Potential: Includes 148 wells drilled annually since 2021, 28 DUCs, 76 permits, and over 2,800 identified undeveloped locations.

  • Key Operators: ExxonMobil, Apache, Diamondback, Occidental, ConocoPhillips, and Continental lead development on acquired assets.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.