DLA Piper advised Carbon Streaming Corporation in its carbon credit streaming agreement with a subsidiary of Restoration Bioproducts LLC to support the construction of a biochar production facility in Virginia. This is Carbon Streaming’s first carbon stream on a biochar carbon removals project, and the company’s first carbon stream located in the United States.

Biochar, known as biological charcoal, is produced by heating organic feedstocks in a limited oxygen atmosphere, resulting in a very stable form of carbon that prevents the release of greenhouse gases into the atmosphere for centuries. The project is expected to remove 161,000 tons of carbon equivalent emissions and generate an equivalent number of CO2 Removal Certificates (CORCs). Carbon Streaming is making an initial upfront cash investment of US$0.6 million, with additional milestone payments of US$.75 million to be paid over the term of the Stream Agreement.

“As Carbon Streaming continues to expand its global footprint, we are excited to support its geographic diversification,” said DLA Piper of counsel Deanna Reitman who advised Carbon Streaming. “The developing climate market leverages our team’s expansive expertise in this industry, sharpening our capabilities to serve clients on these important efforts.”