Chestnut Carbon Bolsters Leadership Team to Accelerate Nature-Based Carbon Removal Projects

Greg Adams to serve as Chief Financial Officer; Shannon Smith to serve as Chief Commercial Officer

Chestnut develops the highest-quality nature-based carbon credits to help sustainability-focused companies achieve their net zero goals

NEW YORK, Sept. 22, 2023 /PRNewswire/ -- Chestnut Carbon ("Chestnut"), a nature-based carbon offset developer founded by private investment firm Kimmeridge, today announced that it has appointed Greg Adams as its Chief Financial Officer and Shannon Smith as its Chief Commercial Officer. Mr. Adams will drive Chestnut's financial and capital management strategy and business development efforts, while Ms. Smith will lead efforts to increase marketplace recognition, capitalize on growth opportunities and maximize the organization's commercial potential.

Chestnut's scalable and low-cost afforestation solution facilitates carbon abatement through the development of high-quality nature-based carbon removal credits. Through its target of planting 500,000 acres of land across the U.S., Chestnut supports not only the sequestration of carbon, but also increasing biodiversity, bolstering local communities and restoring natural habitats. Its projects support the future of sound corporate sustainability, helping companies across industries meet their net zero goals more efficiently and cost effectively through the production of high quality carbon removal credits.

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Ben Dell, Founder and Managing Partner of Kimmeridge, said: "When we launched Chestnut in 2022, we endeavored to fill a critical void by offering nature-based, high-integrity carbon offset solutions – and have done just that. We have brought a differentiated offering to the market and will continue to build out the platform to meet the growing needs of sustainability-conscious organizations and municipalities alike. We are very pleased to welcome Greg and Shannon and look forward to accelerating Chestnut's growth trajectory for the benefit of all stakeholders and the environment."

Greg Adams's Biography

Greg Adams is a finance, capital and commodities markets professional with over 25 years of risk management, business development, strategic planning and finance experience. He was most recently Senior Vice President of Finance and Risk Management and Treasurer of FuelCell Energy, a publicly traded clean energy company focused on decarbonizing power and making hydrogen. Prior to FuelCell, Mr. Adams spent nearly 17 years in commodities sales & trading and structured finance with J.P. Morgan Chase & Co., Morgan Stanley, Société Générale, and Goldman Sachs, working with institutional and corporate clients on complex risk management, financing and capital market solutions in New York and London. Before coming to Wall Street, Mr. Adams worked in the power and energy space after graduate school, holding various finance, strategy, M&A, and business development roles at AES Corporation and Entergy Corporation. He has extensive project finance experience spanning power, LNG, renewables and metals. He received a BA from Denison University and an MBA from the McDonough School of Business at Georgetown University.

Shannon Smith's Biography

Shannon Smith is a growth leader with 20 years of experience leading sales and marketing across clean energy, financial and consumer products. She most recently served as Chief Growth Officer for Dandelion Energy, a clean energy start-up providing residential geothermal home heating and cooling systems. Prior to Dandelion, she was the Senior Vice President of Marketing at OnDeck Capital, serving small business owners with working capital and asset-backed loans. Ms. Smith spent several years at McKinsey & Co.'s San Francisco office, was an investment banking analyst at Morgan Stanley, and has held marketing leadership roles at well-known consumer brands including J. Crew, Williams-Sonoma and Sephora. She received a BA in Finance from University of Texas at Austin and an MBA from the Kellogg Graduate School of Management at Northwestern.

About Chestnut Carbon

Founded in 2022 with the support of energy-focused private equity firm Kimmeridge, Chestnut Carbon ("Chestnut") is a leading nature-based carbon offset platform. It generates high-quality forest carbon offsets that are additional, verifiable and biodiverse to accelerate the path to net zero across a range of industries. Chestnut's expertise is bolstered by its acquisition of Forest Carbon Works, a public benefit corporation founded by Kyle Holland, Ph.D., with a proprietary approach to developing U.S. forest carbon offset projects on family-owned forestland. The Chestnut team is uniquely positioned to address carbon removal, with diverse backgrounds including forestry, carbon regulation, environment, finance, and land. For additional information on Chestnut, its strategies, environmental stewardship thought leadership, please visit https://chestnutcarbon.com/.

SOURCE Chestnut Carbon