BP has acquired a majority stake in the carbon offset project facilitator, just over a year after investing $5m in the company.
Petroleum supplier BP paid an undisclosed amount yesterday for a majority stake in one of its portfolio companies, US-based carbon offset facilitator Finite Carbon.
Finite Carbon partners forest landowners to develop carbon offset projects that enable them to receive money by selling the resulting carbon credits to polluters. BP will integrate the company into its business accelerator, BP Launchpad, and fund its international growth.
The company raised $5m from BP in October 2019, roughly a decade after raising $2m…
