Trinity advised STOA on a memorandum of understanding for a €18 million investment in NetZero

Trinity International’s Paris Office has advised STOA, an impact fund created in 2017 by the Caisse des Dépôts and the Agence Française de Développement (AFD) investing in infrastructure and energy in emerging and developing countries, in relation with the entering into of a memorandum of understanding regarding a proposed investment in NetZero, the French company pioneering the long-term sequestration of atmospheric carbon in soils.

The transaction relates to a total proposed investment of €18 million and should allow NetZero to industrialize its technology and to deploy its sites on a large scale in tropical countries, with a view to sequester more than 5 million tonnes of CO2 in aggregate, from now and until 2030.

NetZero is a Milestone Award winner of Musk Foundation’s XPRIZE Carbon Removal competition, a recipient of the “Efficient Solution” label from Solar Impulse Foundation, a Green Tech prize winner of the Tech for Good Awards, and a certified carbon-removal project under the Puro Standard.

We are proud to have assisted the STOA team (Marie-Laure Mazaud, Patrick Krasa, Capucine Leroux and Hugo Morel).

The Trinity team was led by Giuliano Lastrucci (Counsel), supported by Pierre Bernheim (Partner) and by Francesca Ngahane (Associate) and Mama Sahale Souare (Trainee).