Brazilian climate tech Mombak raised $17M in debt financing, receiving $13.5M from the federal government’s Climate Fund and $3.5M from the Brazilian Development Bank’s Entrepreneurship Financing program (Finem).
Mombak focuses on large-scale carbon removal through the reforestation of degraded land in the Amazon, with ongoing projects in Pará and partnerships with local landowners.
Mombak will use the funds to expand its reforestation efforts, support biodiversity recovery, and strengthen the local economy through job creation and supply chain development.
“This financing is a milestone for the carbon removal sector in Brazil. It shows that reforestation is not just an environmental priority, but a scalable business with strong market demand,” said Peter Fernandez, CEO and co-founder of Mombak.
Founded in 2021, Mombak has raised over $200M and works with buyers including Microsoft, Google, McLaren Racing, and the World Bank.
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