DLA Piper Advises Carbon Streaming on Stream with Restoration Bioproducts

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.”

DLA Piper’s Commodities group is made up of experienced and industry-focused attorneys, serving as a one-stop shop for traders, marketers, transporters, financiers and producers of commodities by providing assistance with regulatory and compliance issues, transactions of all types and dispute resolution. The firm’s core team of commodity-focused lawyers regularly counsels on matters central to the commodity business, including regulatory and compliance obligations, materials and training; OTC and on-exchange trading, hedging and risk issues; structured deal-making and trade finance, including cross-border transactions; vessel-owning and chartering matters; physical infrastructure development and utilization; and litigation and arbitration throughout the world. For more information regarding DLA Piper’s Commodities group, please contact CommoditiesGroup@us.dlapiper.com.