Key Carbon (Carbon Neutral Royalty) - Beedie Capital facility of up to C$25m

Terms

Not ranked

Out of scope

Announced

28 Mar 2023

Instrument

Debt

Amount

US$18.3mReported as up to C$25 million (US$18.3 million); the US$ figure is the source's own

Source

carbonherald.com

Parties

Fund or vehicle

Key Carbon

Recipient type

Fund

Country

Canada

Capital providers

Capital providers and the amount counted for each

Party	Role	Amount	Basis
Beedie Investments Ltd.	Lender	Not credited	Not ranked

Carbon

Pathway

Carbon market infrastructure

Project type as recorded

Permanent capital vehicle that prepays carbon project developers for a share of future credits

Structure and cover

Structure flag

Fund raise / funding commitment

What happened

Carbon Neutral Royalty (now Key Carbon), the Vancouver-based permanent capital vehicle that finances voluntary carbon market projects by prepaying developers for a share of future credits, closed a facility worth an aggregate of up to C$25 million (US$18.3 million) with Beedie Investments Ltd. (Beedie Capital), reported by Carbon Herald on 28 March 2023. Proceeds fund existing partner commitments and pipeline projects, including future biodiversity and community projects, with mangrove planting in Asia and cookstove funding in eight African countries given as examples. The amount is a ceiling ('up to'); the amount drawn is not disclosed.

Kumo note

- Capital raised for a carbon finance vehicle rather than a project: Beedie Capital provided a facility of up to C$25m (US$18.3m) to Key Carbon, which prepays developers for a share of future credits. - The figure is a ceiling and the drawn amount is not disclosed; it is held out of the project league tables so the pool is not counted alongside the deals it funds.

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