Known as biological charcoal, biochar is generated by heating biomass without oxygen, which creates a stable form of carbon, which is then buried underground to capture CO2 emissions.

As per ESG Today, Standard Biocarbon is a Maine-based startup founded in 2020 by Fred and Tom Horton, who have a vast experience as sustainability entrepreneurs.

Fred Horton, CEO and co-founder of Standard Biocarbon said that "this investment by Nexus Development Capital has enabled Standard Biocarbon to complete one of the most advanced and efficient biochar plants in the world. We’re seeing incredible interest in a consistent supply of our high-quality purpose-made biochar, which until now has been nearly impossible to find."

Company officials said that the recent investment will be used to scale operations at Standard Biocarbon's biochar production facility, located in Maine. Biochar production is expected to start in the first quarter of this year with an initial annual capacity of 12.200 cubic meters, which will also result in capturing around 3.000 tons of CO2.

Joshua Kaufman, CEO of Nexus Development Capital, said that "biochar is one of the most cost-effective and commercially ready approaches for removing CO2 from the atmosphere. Scaling these types of carbon removal facilities is now one of our biggest opportunities. We see Standard Biocarbon as one of the first to bring these in-demand carbon sequestration solutions online to meet the huge appetite across multiple sectors."