A Google-backed coalition called Frontier, along with tech heavyweights like Stripe, Shopify, JPMorgan Chase, Salesforce, and H&M Group, has announced a $1.7 million investment aimed at purchasing carbon removal credits from three early-stage companies. The move is designed to help scale ocean-based and rock-based carbon removal technologies as the world seeks effective solutions to fight climate change.
Carbon Removal Credits: A Growing Industry
The world needs to remove between 5–10 billion tons of CO₂ annually by 2050 to meet global climate targets. Yet, most carbon capture technologies remain small-scale and underfunded.
Frontier’s new commitment will purchase carbon removal credits from:
- Karbonetiq (USA)
- Limenet (Italy)
- pHathom (Canada)
These firms specialise in ocean alkalinity enhancement and rock mineralisation to permanently lock away carbon emissions.
“By contracting to buy early, the firms are better able to hire, raise finance, and get the technologies off the ground,” said Hannah Bebbington, head of deployment at Frontier.
How Frontier’s Investment Works
Frontier aggregates demand from its members and uses it to buy carbon removal credits that fund carbon capture projects. This latest $1.7 million marks Frontier’s fifth round of commitments.
Since its launch in 2022, Frontier has pledged to invest at least $1 billion by 2030 in carbon removal credits. So far, it has committed $600 million, with a mix of:
- Pre-purchase agreements
- Off-take agreements with larger-scale providers
Last week, Frontier made headlines by paying $41 million for 116,000 tons of carbon removal from biomass waste company Arbour.
Why Ocean and Rock Carbon Removal?
The two technologies supported in this latest round are:
- Ocean Alkalinity Enhancement:
This process involves increasing the alkalinity of ocean water to help it absorb and lock away more carbon dioxide. A common method includes adding quicklime (made from limestone). - Rock Mineralisation:
This method speeds up the natural process where rocks and industrial waste absorb CO₂. By crushing materials to increase their surface area, the process becomes faster and more scalable.
According to Bebbington, both technologies offer high potential due to their ability to scale quickly and cost-effectively.
“It allows companies to demonstrate commercial viability,” Bebbington explained. “These methods can have real impact if deployed at scale.”
Tech Industry’s Role in Carbon Capture
The initiative highlights a growing trend among tech giants to actively participate in carbon removal markets. Companies such as Google, Stripe, and Shopify are positioning themselves not just as tech leaders but also as pioneers in climate innovation.
By backing early-stage technologies, they aim to:
- Accelerate the commercial viability of carbon capture startups
- Create new market opportunities
- Meet internal and global sustainability goals
The Bigger Picture: Frontier’s Long-Term Mission
Founded in 2022, Frontier is committed to reshaping the carbon removal industry. Its goal is to:
- Invest over $1 billion in carbon removal by 2030
- Support a diverse mix of carbon capture technologies
- Build a market that helps companies meet net-zero commitments
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