Aerial view of a lush green forest or woodland looking down on the tree tops in a full frame view
Our Work

Latham & Watkins Advises Ponterra on Agreement With Microsoft, Rubicon Carbon, and Carbon Streaming for Azuero Reforestation Carbon Removal Project

May 23, 2024
Firm represents the developer and operator of carbon and biodiversity projects.

Ponterra, a developer and operator of large-scale biodiversity-rich forest restoration projects, has announced an agreement with Rubicon Carbon, Carbon Streaming (Cboe CA: NETZ), and Microsoft to deliver high-quality reforestation carbon credits from its ARC Restaura Azuero Project (ARC Project) in the Azuero Peninsula of Panama. The ARC Project is planned to involve planting over 6 million trees from over 75 native species to restore a tropical rain forest. The project is expected to issue 3.24 million tonnes of carbon removal credits over the 30-year contract.

Latham & Watkins represented Ponterra in the transaction, with a corporate deal team led by Los Angeles counsel Michael Dreibelbis. Advice was also provided on financing matters by San Diego counsel Sosi Biricik; on regulatory matters by Washington, D.C. partner Joe Bargnesi; and on restructuring matters by Los Angeles counsel Jeff Mispagel.

Endnotes