Brazil’s Mombak raises new fund, adds Salesforce as carbon credit buyer
Brazilian carbon removal startup Mombak said on Monday it secured the first close of its second reforestation fund and signed a new carbon credit purchase agreement with Salesforce, while betting demand will expand beyond the technology companies that helped build the market.
The company said its Amazon Reforestation Fund II aims to raise $150 million to finance restoration projects in the Brazilian Amazon and will have access to a 200-million-real ($38.88 million) credit line from Brazil’s Climate Fund, operated by state development bank BNDES.
