Terms
- Announced
- 17 Sept 2026
- Instrument
- Equity
- Amount
- US$1.50mReported as $1.5m pre-seed
- Source
- techcabal.com
Parties
- Project developer
- Biochar Industrial Group
- Country
- Nigeria
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Breega Investor US$0.50m Estimated: an even share, 1 of 3 Catalyst Fund Investor US$0.50m Estimated: an even share, 1 of 3 Mulago Foundation Grantor US$0.50m Estimated: an even share, 1 of 3
Carbon
- Pathway
- Biochar
What happened
- Breega led, with participation from Catalyst Fund. The Mulago Foundation provided non-dilutive funding as part of the financing; no source discloses the split between equity and non-dilutive money, so the whole US$1.5m is recorded on this equity row, on the Carbogenics (EQ-205) precedent. Proceeds fund engineering, operations, logistics and carbon-verification hires and the systems to monitor and verify removals. BIG has run Nigeria's first industrial biochar plant since December 2024 and states it is incorporated in the USA. No company release located; trade press only.
Kumo note
- Biochar-as-a-Service: BIG finances, installs and operates continuous pyrolysis units inside food-processing plants handling 2,500t+ of agricultural waste a year, so the host factory carries no capex. The headline includes non-dilutive funding from the Mulago Foundation, with the grant and equity split undisclosed, so the commercial component cannot be separated from the philanthropic one.
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