March 3, 2022—London, United Kingdom: Carbon Neutral Royalty Ltd. (“CNR” or the “Company”) (Private) is pleased to announce that it has entered into an Investment Agreement Partnership term sheet with Maris Ltd (“Maris”) and the Maris group of companies for the origination and co-development of Blue Carbon credit projects in coastal and marine ecosystems. The partnership will operate within the Maris group of companies’ operational zones including Kenya, Tanzania, Angola and the DRC (“Partnership Region”) and will exclude project locations where CNR has other international partners.
Enhanced Exposure to Blue Carbon Credit Portfolio: Partnership provides CNR exposure to future Blue Carbon project co-development concessions through government MOUs, targeting highly degraded areas.
High-Margin Projects: Partnership agreement will lock in planting costs for CNR on future projects at cost plus 10%. Blue Carbon restoration projects are up to ten times more productive at sequestering carbon per hectare than terrestrial forests at 1/3 of the planting cost. Existing mangrove restoration projects have recently traded up to US$34/t.
Blue Carbon Platform: Maris to benefit from CNR’s Blue Carbon Ecosystem, including operational best practice and R&D.
Significant Scalability: Maris’ pan-African expertise provides Carbon Neutral with the ability to implement projects across multiple countries in parallel.
Community Enrichment: Partnership will ensure a significant share of credit production will be allocated to project area communities and governments.
Brett Heath, non-executive chairman commented, “Maris is a highly reputable investor across Africa with a substantial portfolio of forestry and agroforestry businesses. CNR will benefit from Maris’s presence across vital African Blue Carbon jurisdictions, allowing CNR to co-develop mangrove restoration and seagrass conservation projects at scale”.
Charlie Tryon, co-founder & CEO of Maris commented “This partnership is an exciting opportunity to achieve significant environmental impact while benefitting local communities and generating attractive financial returns. We’re delighted to be working with such an experienced investor as CNR.”