Brazilian carbon removal firm Mombak has secured the first close of its second Amazon reforestation fund, targeting $150 million to expand restoration projects. The fund also gains access to a roughly $39 million credit line from Brazil's Climate Fund, operated by BNDES. This follows the company's first $120 million fund that financed restoration across 15 farms and planted nearly 15 million native trees. Salesforce has signed a multiyear carbon removal purchase agreement with Mombak, joining Google and Microsoft as buyers. Mombak expects to issue about 80,000 metric tons of reforestation carbon removal credits by the end of 2026. The company is betting that demand from oil, mining, and steel industries will grow, a view echoed by BNDES.
