The Inlandsis Fund and GECA join forces to accelerate the energy transition thanks to biochar
Montréal, May 9, 2024 — The Inlandsis Fund, which specializes in financing projects that reduce greenhouse gas emissions, is pleased to announce a strategic partnership with GECA, an internationally recognized consulting firm based in Québec specializing in the field of pyrolysis and biochar technologies.
Using its financial expertise, the Inlandsis Fund with GECA, will strive to increase investments and foster the development and implementation of innovative biochar projects that will contribute to the fight against climate change in Québec, Canada and North America.
Inlandsis and GECA will support the developers of biochar project with financing and technical consultancy services, applying industry best practices and standards. The partnership will also help guide local Québec project proponents in the evolving voluntary carbon market, carbon sequestration, and the various biochar technologies and their applications.
Known for its significant carbon sequestration potential, biochar is a by-product derived from the pyrolysis of biomass residues. Classified by the Intergovernmental Panel on Climate Change as a negative emission technology, this decarbonization solution sequesters 2.5 to 3 tonnes of CO2 per tonne of biochar, while providing significant environmental benefits such as air and water purification and enhancement of soil health. Biochar also has a wide range of applications and can be used as a substitute for fossil coal in various industries, or as a means of improving the quality of concrete and asphalt building materials while sequestering carbon.
“This partnership will allow us to accelerate and support our strategy of investing in biochar projects, a promising carbon sequestration solution for the climate. Our cooperation is essential and demonstrates our desire to strengthen our impact in Québec and beyond,” explains Mark Netto, Managing Director of Inlandsis.
Suzanne Allaire, CEO of GECA, concludes: “This partnership with Inlandsis is exciting for the biochar industry. GECA and Inlandsis, two Québec-based organizations that are unique in the world, play an important complementary role in the success of biochar projects. GECA offers innovative solutions to developers and Inlandsis supports them financially. What better way to fight against climate change while processing residues?”
Québec’s expertise in carbon finance
Inlandsis is a fund managed by Fondaction Asset Management, an impact manager that creates innovative, high-impact financial solutions to accelerate the profound and sustainable transformation of the economy. Launched in partnership with Priori-T Capital, Inlandsis is the first Canadian fund, and one of only a few in the world, to provide project financing tied exclusively to environmental credits. Following the closing of the Inlandsis Fund II last December with commitments of nearly $130 million, Inlandsis continues its efforts to deploy capital for carbon reduction or sequestration projects, with more than 40 projects funded since 2017.