Shell's Silicon Ranch buys carbon offsets co Clearloop

Image by: PRNewsfoto/Silicon Ranch Corporation.

October 14 (Renewables Now) - Independent power producer Silicon Ranch Corporation, the US solar platform of Royal Dutch Shell Plc (AMS:RDSA), announced today it has taken over Clearloop, a Nashville-based business that helps other businesses adopt solar power.

The business model of the acquired firm revolves around charging other companies small fees based on the carbon footprint of the products they reclaim and then using the amount to build solar power plants. Clearloop serves businesses of all sizes.

Silicon Ranch notes that its cooperation with Clearloop skips third parties such as carbon registry brokers.

Just recently, Clearloop broke ground on the country’s first solar farm to be financed by corporate carbon offsets. The project is located in Jackson, Tennessee, and is supported by companies such as Intuit and Vista Equity Partners, as well as direct-to-consumer brands such as Dropps and Hello Bello.

Following the acquisition, Clearloop will continue to operate under its brand and co-founder Laura Zapata will remain CEO.

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