Airseed Technologies aims to use drones to plant hundreds of thousands of trees

It now has 10 trial projects in three states, covering 850,000 seed pods over 292 hectares.

Four more trials are planned for spring. In partnership with Telstra, this is expected to sequester over 160,000 tonnes of carbon over the next 25 years.

The start-up hopes these pilot projects will provide its first revenue next year.

It is also working with a global investment manager to launch a carbon forest fund to build a large-scale portfolio of forestry projects across Australia, focused on generating carbon credits over the long term.

Airseed is about to pass the hat around again.

The Punter has contacted Airseed's advisers, TWIYO Capital, to register his interest.

Whether he will actually add to his existing 1000 shares will depend on the terms.

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The company has no immediate plans to list on the stock exchange, so shares can only be traded by direct negotiation between investors.

Meanwhile, shares in the explosives and fertiliser giant Incitec Pivot (ASX code IPL) remain well above the Punter's cheeky $2.60 bid.

IPL's earnings grew strongly in the latest half-year, debt-to-equity is reasonable, and it is cash-flow positive. The shares yield an above-average 6 per cent gross.

The Punter is tempted to increase his offer to $2.80 a share.

He remains cautious, however, because, until the details of how the forthcoming demerger of the fertiliser and explosives divisions are released, it is not clear how an investment in IPL will be split across two separately quoted companies.

Full details may not emerge until the company's investment day on September 22.

If the Punter's order is not filled, he will wait until the fertiliser side is separately quoted on the ASX next year.

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