NCX Raises $50m to Fund International Expansion and New Natural Capital Markets
Zack Parisa
Zack Parisa
2 March, 2022 min read

Series B financing round is led by Energize Ventures and joined by J.P. Morgan, TIME Ventures, among others.

SAN FRANCISCO–(BUSINESS WIRE)–NCX, the science-driven forest carbon marketplace delivering large-scale, immediate impact for climate and communities, announced a raise of $50 million dollars in a Series B round of financing led by energy and sustainability investor Energize Ventures. The round cements new partnerships with J.P. Morgan, Intercontinental Exchange (ICE), Dalus Capital, Clearvision Ventures; and also includes significant follow-on funding from existing investors Scribble Ventures, as well as Marc Benioff’s TIME Ventures. The financing round is expected to support expansion outside of the United States in addition to the formation of new natural capital markets created to serve the growing $1 billion voluntary carbon market.

“The Natural Capital Exchange has always been about enabling society to value all the benefits forests provide. We started with applying our forest data, AI-driven remote sensing, and rigorous accounting practices to carbon in the United States, but if we are going to make a significant impact on climate goals, it is going to take more than just US forests,” said Zack Parisa, Co-founder and CEO. “We also know that society values forests for reasons beyond carbon and timber, such as wildlife habitat and water yield. NCX is going to apply our data, science, and forestry practices to build markets that create the forests society wants and needs.”

Joining the NCX Board of Directors is Katie McClain, partner at Energize Ventures, who brings two decades of experience in clean energy policy and a background in scaling companies in the climate and sustainability space. “The global voluntary carbon market is growing rapidly as the private sector addresses the urgency of offsetting emissions,” said Katie. “When it comes to decarbonization, time is of the essence – and NCX’s solution reflects the importance of reducing emissions today while setting a new standard for transparency and quality. This market is still in its earliest of innings, and we’re excited to partner with NCX as they enable more companies and communities to take positive action towards climate change.”

“The development of easily accessed carbon and natural capital markets is key to meeting the significant demand for these sustainable investment options,” said Anton Pil, Head of Global Alternatives, J.P. Morgan Asset Management. “J.P. Morgan’s investment in NCX is the next step in our mission to be at the forefront of innovative carbon solutions.”

In its first year of the exchange, NCX generated participation from 2,470 landowners with a collective 4.3 million acres across 39 states. The result was 1.13 million MTCO2e of expected climate impact from forests across an area bigger than the state of Connecticut. Carbon credit buyers incentivising the delayed harvest of forests through the NCX marketplace include Microsoft, Rubicon, South Pole, Incyte, and others.

About NCX

NCX, formerly known as SilviaTerra, monetizes the benefits of forest stewardship through its natural capital marketplace. By using high integrity data and measurements to generate carbon credits, NCX is enabling corporations to meet ambitious net-zero goals with high quality offsets that support landowners of all sizes. In 2021 NCX broke records for the largest forest carbon project by acreage in the contiguous U.S. with its first program cycle.

About Energize Ventures

Energize Ventures is a leading global alternative investment manager focused on accelerating digital transformation in energy and sustainable industry. Founded in 2016, Energize now holds more than $700 million in assets under management and has funded 19 companies to date. With an unmatched depth and breadth of industry and operational expertise, Energize works in partnership with its portfolio companies to realize their full potential from early commercialization to growth scaling and into the public markets. For more information on Energize Ventures, please visit http://www.energize.vc.

Contacts

NCX Media Contact:
Cheryl Sansonetti, Director of Marketing, NCX
press@ncx.com

Energize Ventures Media Contact:
Kelly Lassing, Head of Marketing & Communications
kelly@energize.vc

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about the author

Zack Parisa

Zack Parisa

Co-Founder and CEO
Zack Parisa is the co-founder and CEO of NCX. Over the last decade, he has developed and pioneered precision forestry tools that are revolutionizing the way that forests can be measured, valued, and managed. Using satellites, cloud computing, and machine learning, NCX worked with Microsoft to create “Basemap,” the first high-resolution forest inventory of the United States. It is now using this data to build new markets for forest values beyond timber, such as carbon, wildlife habitat, and fire risk. Zack is a forester and biometrician by training. He earned an MFS from Yale University, and a BS in forestry from Mississippi State University.
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