Ponterra, a developer and operator of large-scale biodiversity-rich forest restoration projects, has announced an agreement with Rubicon Carbon, Carbon Streaming (Cboe CA: NETZ), and Microsoft to deliver high-quality reforestation carbon credits from its ARC Restaura Azuero Project (ARC Project) in the Azuero Peninsula of Panama. The ARC Project is planned to involve planting over 6 million trees from over 75 native species to restore a tropical rain forest. The project is expected to issue 3.24 million tonnes of carbon removal credits over the 30-year contract.
Latham & Watkins represented Ponterra in the transaction, with a corporate deal team led by Los Angeles counsel Michael Dreibelbis. Advice was also provided on financing matters by San Diego counsel Sosi Biricik; on regulatory matters by Washington, D.C. partner Joe Bargnesi; and on restructuring matters by Los Angeles counsel Jeff Mispagel.
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