On May 10, 2023, Mast Reforestation, the leading vertically integrated reforestation company, announced a $15 million financing agreement with Carbon Streaming Corporation to advance its post-wildfire reforestation projects throughout the American West. This first-of-its-kind project financing will cover the high upfront costs of reforestation projects, accelerating Mast’s forest restoration work and enabling the company to serve more landowners affected by wildfires. Wilson Sonsini Goodrich & Rosati represented Mast Reforestation in the transaction.

 

The first project to be funded under the financing agreement is Sheep Creek Ranch, a more than 2,700 acre project in Montana that was severely burned in the 2021 Harris Mountain Fire. Sheep Creek Ranch is a key part of the migration corridor connected to Yellowstone National Park. Restoring this forestland will keep this crucial migration corridor thriving for various species from Rocky Mountain elk to threatened species like grizzly bears and Canada lynx.  

 

The Mast Reforestation Projects are expected to have positive impacts for wildlife and terrestrial and aquatic ecosystems, which will persist for more than 100 years with funded monitoring by an accredited land trust due to perpetual conservation easements. The Mast Reforestation Projects will also support rural livelihoods, providing jobs in seed collection, nursery operation, site preparation, and seedling planting. The Sheep Creek Reforestation Project is expected to remove hundreds of thousands of tonnes of carbon dioxide and generate an equivalent number of carbon removal credits. 

 

The Wilson Sonsini team that advised Mast Reforestation on the transaction includes: Bob O’Connor, Scott Zimmermann, Elize Zoli, and Karli McConnell.

 

For more information, please see Mast Reforestation’s press release and Carbon Streaming’s press release.