NextGen Announces Plans to Purchase $1 Million CDRs
07-12-2023
White Castle, LA (July 12, 2023) The carbon credit market is growing! As the Wall Street Journal recently reported, NextGen, a joint venture between Swiss climate developer South Pole and Mitsubishi Corp. just completed the advance purchase of 193,000 metric tons of carbon dioxide removal credits (CDRs).
By 2025, NextGen plans to purchase more than $1 million CDRs. All projects will be certified by the International Carbon Reduction and Offsetting Accreditation. Their goal is to have the highest environmental integrity and local community benefit.
The advance purchase demonstrates corporate interest for a variety of CDR technologies that offer long-term removal of CO2 – and reinforces the opportunity for American BioCarbon to be the largest producer of carbon credits in North America.
American BioCarbon’s first commercial facility will produce 240,000 carbon credits annually.
About American BioCarbon
American BioCarbon is a carbon removal and renewable bioproducts company which offers a multi-pronged approach to scaling renewable bioenergy carbon capture. Our biochar is third-party certified by Puro.earth to remove and sequester carbon from the atmosphere. We are co-located with the Cora Texas Sugar Mill in White Castle, LA, and use patented biomass separation technology to make biochar and other products from sugar cane bagasse. We use an agricultural waste product in a unique way to eliminate legacy environmental impacts while helping customers meet environmental, social, and governance goals.