Boreal well-positioned to become a leading developer of carbon credits in North America
TORONTO, Oct. 18, 2021 - Boreal Carbon Corporation ("Boreal" or the "company") has closed its $4 million seed financing round led by investors Senvest Capital Inc. and Osmington Inc., and included Nordstar Capital.
Boreal is an impact-driven company and has been created as a pure-play forest carbon credit developer. Through the acquisition and management of forestry projects in North America, Boreal will build a portfolio which generates long-term recurring revenues for the company, while at the same time making a positive impact on the environment and the communities in which it invests.
"This is an exciting day for Boreal as we begin our journey towards becoming a leading carbon credit developer through the acquisition and management of forestry projects in North America. We have assembled a strong leadership team, and with the support of our investors, we are well-positioned to execute on our vision for the benefit of all stakeholders," said Boreal Chairman Paul Rivett.
Brendon Abrams, Boreal CEO, said "As the world moves towards a net zero GHG economy, carbon credits will play an integral role to facilitate governments and corporations in meeting their GHG emissions targets. Combined with the growing influence of ESG investing, an increase in the cost to pollute, and the prospect for significant regulatory changes in Canada and the United States, we believe the value of high-quality verifiable carbon credits will increase over the coming years."
Mr. Abrams continued, "The global market for carbon credits is expected to grow exponentially with some projections reaching $50 billion by the end of the decade. We believe this presents an attractive opportunity to build a Canadian champion in the field of carbon credits and invest in this nascent and high-growth asset class. We are currently evaluating potential forestry projects that are consistent with our target criteria and look forward to advancing these opportunities in the coming months."
"Sustainable forest management provides many benefits including enhanced carbon sequestration, improved habitat for wildlife, employment opportunities in remote communities, and mitigating the risk and impacts from wildfires and infestation. Following a science-based approach, we intend to implement best practices from around the world to improve the health and quality of forests that we manage, while also maximizing the carbon credit potential from our projects," said Boreal Vice-Chair Rick Doman.
In addition, Boreal is pleased to announce it has entered into strategic relationships with Nordstar Capital and GreenFirst Forest Products Inc., which will support the company's growth through silverculture expertise, forestry personnel, and top-tier finance and legal teams.
About Boreal Carbon Corporation
Boreal Carbon Corporation is a Canadian private company with a vision to become a leading carbon credit developer through the acquisition and management of forestry projects in North America. On behalf of Boreal and our partners, we take projects through the entire carbon capture lifecycle; this includes the sourcing, evaluation, acquisition, execution, and long-term management of forestry projects for carbon credits. Boreal is led by an experienced team in the fields of forestry, carbon credits, business, and stakeholder relations.
Visit www.borealcarbon.com to learn more.
For further information: Brendon Abrams, CEO, firstname.lastname@example.org