Climate Friendly announces strategic investment from Adamantem Capital

Carbon farming project developer Climate Friendly today announces that Australian private equity firm Adamantem Capital (Adamantem) has joined the business as a majority strategic investor. Adamantem’s plan is to support Climate Friendly’s growth and purpose to tackle the climate challenge by making a material contribution to a sustainable net-zero emissions Australian land sector by 2050.

Climate Friendly works with land holders, managers and Traditional Custodians to regenerate their land and improve productivity by adopting land management practices that reduce emissions and capture carbon in the land, earning Australian Carbon Credit Units and securing them more sustainable and diversified revenue. The company is also pioneering a new approach to carbon farming that is more holistic and facilitates active landscape management across Australia’s vast rangelands as well as the productive agricultural landscapes.

Climate Friendly supports the widest range of project types of any Australian carbon farming business, and in 2020 achieved its first medium term target having delivered 20 Mt of carbon abatement. With Adamantem’s support, Climate Friendly plans to continue growing its impact and scale up the business to meet its carbon abatement target of 100 Mt by 2025, in partnership with its carbon farming and carbon offset partners. That target is the equivalent to planting a native forest plantation of over 125 million mature eucalypt trees (or 125,000 hectares).[1]

Skye Glenday, CEO of Climate Friendly, noted that “Strategic investment from Adamantem enables us to partner with more land managers and Traditional Custodians on carbon farming. It is a great way to mark the start of Climate Friendly’s 18th year in business, and we are very excited to think about meeting and even exceeding our ambitious impact goal together.  This investment recognises the value in the ‘profit for purpose’ goals that drive Climate Friendly’s  team and culture and which have been embraced by Adamantem.”

Rob Koczkar, Managing Director at Adamantem, said the firm is very proud to be partnering with a team leading carbon project development in Australia.

“Climate Friendly’s team collectively bring more than 75 years’ experience working in carbon markets in Australia. We look forward to working together to continue innovating, onboarding more project partners and helping drive the industry’s growth.  In particular, we look forward to supporting Climate Friendly’s focus on active landscape management which enables carbon farming partners the freedom and flexibility to regenerate the landscape in balance with sustainable agricultural production.”

Global climate change advisory and investment firm, Pollination, acted as sell side financial advisors in the transaction. Grant Samuel advised Adamantem.

Climate Friendly is the first investment to close in Adamantem’s second Fund (Fund II). Climate Friendly founder, Freddy Sharpe, along with the current management team, remain shareholders in the business.

19 March 2021.

Media Enquiries:

Climate Friendly:

Nigel Smith +61 491 638 615

nigel.smith@climatefriendly.com

Adamantem:

Courtney Howe +61 404 310 364

courtney@domestiqueconsulting.com.au

[1] Williams et al, 2005, Allometry for estimating aboveground tree biomass in tropical and subtropical eucalypt woodlands: towards general predictive equations, Australian Journal of Botany, 53: 607-619.

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