ImpactAlpha, March 8 – Reforestation in California. Mangrove restoration in Mexico. Regeneration of mining land in Jamaica. Colorado-based RenewWest is vetting, developing and tracking landscape restoration projects worldwide to rebuild ecosystems, capture carbon and improve community resilience.
The startup has secured $3.2 million in a round led by green bank Aspiration and the venture fund of nonprofit One Small Planet. RenewWest will use the capital to grow its team and pipeline of projects, which include rainforest restoration in Peru, tropical forest conservation in Papua New Guinea, and wetland preservation in Tennessee.
One Small Planet’s Jack Wielebinksi said its investment is about accelerating “the harmony of environmental and economic wealth.”
RenewWest has two projects underway: the Collins-Modoc Reforestation Project, which is reforesting 10,000 acres in northern California. The company says it’s “the largest single-site carbon-focused reforestation project in U.S. history.” It’s also engaged in mangrove restoration on Mexico’s Yucatán peninsula.
Capturing carbon and trading carbon credits is one of the most tangible ways to monetize natural capital investments. “Investing in environmental repair is an effective way to do this,” said Olivia Albrecht, who took the helm of Aspiration in October. “Healthy ecosystems are the world’s most powerful carbon sink.”