AirSeed Technologies germinates Series A fund up to AU$200 mln

 

Caption: AirSeed Drone 2 

KUALA LUMPUR, March 27 (Bernama) -- Environmental restoration disruptor, AirSeed Technologies has announced its partnership with leading impact investment manager Conscious Investment Management (CIM) establishing a carbon sequestration fund of up to AU$200 million. (AU$1=RM2.94)

According to a statement, AirSeed and CIM expect the restoration and carbon sequestration projects to generate meaningful upfront revenue to AirSeed over the next five years in service provider revenue to conduct planting.

This is AirSeed's first large-scale contract with a leading impact investment manager and will be key to creating one of the largest carbon sequestration funds of its kind. It validates the company’s value proposition for large-scale application of its hyper productive planting solution.

To support this, AirSeed is launching its Series A capital raise to provide additional funds to execute this milestone contract and scale the business to maximise on this transformative opportunity.

“Securing an agreement to work with CIM as it establishes one of the largest carbon sequestration funds of this type is important validation of our value proposition for large-scale application of our solution and brings us significantly closer to our 100 million planting goal by 2024.

“Launching our Series A funding round will drive AirSeed's delivery of this massive opportunity and continue the transformation of our business to meet the rapidly growing appetite for reforestation and replanting opportunities at the scale necessary to help shift the dial on climate change,” said its Chief Executive Officer & Co-Founder Andrew Walker.

Meanwhile, CIM's Partner Alex Debney said: “We are delighted to welcome AirSeed as a new impact partner in the environmental sector. We look forward to delivering carbon sequestration and native Australian reforestation at institutional scale by working closely with AirSeed.”

AirSeed has also confirmed highly respected climate transition and business specialist Mara Bún as the latest addition to the Board.

With a long track record in climate, nature and impact campaigns and solutions, Bún is Chair of Australian Impact Investments and a non-executive Director of Australian Ethical Investments and GreenCollar, Australia's largest environmental markets investor.

AirSeed is on track to achieve 100 million pods planted by 2024. Pilot projects already underway in Australia across Victoria, New South Wales and Queensland covering more than 650 hectares and include one of the largest environmental planting to date in Australia.

-- BERNAMA