KPMG Buys Biochar Carbon Removal Credits From ReGenerate's Maine Bioenergy Plant

KPMG has added U.S. biochar to its carbon removal purchases. Private equity platform Ember announced this week that its portfolio company ReGenerate has closed the sale of biochar carbon removal credits to KPMG.

Carbon markets firm ClearSky Limited helped bring the deal together. The volume of credits and the price weren't disclosed.

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Biochar From a Working Power Plant

The credits come from ReGenerate Livermore Falls, a 39 MW biomass power plant in Androscoggin County, Maine. It can produce about 284,000 net megawatt-hours of electricity a year, enough for roughly 37,000 homes.

ReGenerate Livermore Falls in Maine. Image: ReGenerate Energy Holdings

The plant runs on low-value wood residues from local logging and wood products businesses. Biochar-grade material is separated from the boiler's reinjection ash, so the carbon removal comes from an operation that was already producing power.

Right now that biochar is used as landfill cover. ReGenerate says it's also exploring local uses like soil amendment, water filtration, and environmental remediation.

Certified Under Puro.earth

The facility is certified under the Puro.earth biochar methodology and has already been issued CO2 Removal Certificates, or CORCs, listed with 100+ year durability.

Third-party verifier 350Solutions ran an in-person audit at the site in January 2025. It verified eligible removals for February 9 to October 31, 2024, and recorded a molar H:C ratio of 0.27 for the biochar.

How the Platform Came Together

Ember formed ReGenerate as a bioenergy joint venture in April 2021. The platform took ownership interests in two Maine biomass plants, Livermore Falls and Stratton, and acquired the 50 MW Albany Green Energy facility in Georgia that July.

In December 2022, the Maine facilities received a $523,900 grant for equipment to convey and process biochar. At the time, the two plants expected to produce up to 8,000 tons of biochar a year with more than 80% carbon content.

The power side has a strong record too. According to its Puro.earth listing, Livermore Falls delivered $61.2 million in economic benefit during the first three years of its Central Maine Power contract, 16% above what it bid.

With KPMG now on board as a buyer, ReGenerate's Maine operation is turning residual wood into both renewable power and certified carbon removal.

About ReGenerate

ReGenerate Energy Holdings, LLC owns assets that produce biobased energy and sustainable products from residual feedstocks. Its portfolio includes ReGenerate Livermore Falls and ReGenerate Stratton in Maine and Albany Green Energy in Georgia. Ember is a co-owner of the platform.

About Ember

Ember is a New York-based private equity firm investing in middle-market infrastructure that increases resource efficiency and enhances business resilience. Its portfolio spans bioenergy, water, waste, and energy transition businesses.