Mast Reforestation

Mast develops credits by burying biomass from trees killed in high-severity wildfires, preventing decomposition emissions. The burial creates a durable carbon removal claim. Revenue from selling these credits to corporate buyers funds replanting of the burned site with native seedlings, turning a fire liability into a financed restoration asset.

Mast owns Cal Forest Nurseries and Silvaseed, which together operate the largest seed bank in the western United States and grow over 30 million seedlings annually. The nurseries supply Mast's own reforestation projects and sell to external customers, giving the firm control over seed sourcing, genetics, and seedling availability — a bottleneck for post-fire replanting at scale.

Active projects span Montana and California, targeting high-severity burn scars on private land across the intermountain West. Disclosed project sites include Sheep Creek in Montana, Feather River Dome in California, and Wood Preserve MT 1, also in Montana.

The firm sells credits into voluntary carbon markets to corporate buyers with net-zero commitments. Mast markets near-term removal credits — specifically v2026 vintage — and positions its credits as tied to both carbon removal and ecological restoration of iconic Western forests.

Mast appears structured as a project developer and operator rather than a traditional fund manager. The firm does not publicly disclose a commingled fund vehicle or external capital commitments. Its economics appear driven by project-level carbon credit sales and offtake agreements, with its nursery business providing a separate operating revenue stream.