- Growth AMC pledges future carbon removal commitments
- Startups should be able to raise funding from investors thanks to increased confidence
- Carbon removal will depend on multiple technologies, such as biomass storage and improving ocean alkalinity.
Frontier, a coalition focused on carbon removal whose members include Google, Anthropic and Salesforce, has announced a new $915 million Advanced Growth Market Commitment (AMC) after four years of work on carbon removal, bringing total investments to $1.8 billion.
The initiative is designed to solve one of the biggest problems with carbon removal: that there is not enough demand to justify investors financing larger commercial projects.
To address this, Frontier is committed to purchasing carbon removal in the future to provide startups with predictable revenue and ultimately help them secure funding to develop the technology.
Frontier Coalition Commits to Buying Future Carbon Removal
Frontier’s previous work has shown that permanent carbon removal technologies can be built and have already worked successfully, so it is now focused on providing startups with a bridge between prototypes and large-scale deployment, giving investors the confidence they need.
Stripe, Google, Shopify, Anthropic, Salesforce, H&M, JPMorganChase, McKinsey Sustainability, Workday and Autodesk are the 10 members that make up Frontier and who promise to make large purchasing commitments over several years. Other partners that add shopping on behalf of their clients include Canva, Skyscanner, Zendesk, and more.
“To reach gigaton scale, companies and governments will have to work together,” the group wrote.
Under the group’s gigaton portfolio, it does not believe there is one winning carbon removal technology, but rather that success depends on multiple systems working simultaneously. That portfolio should include surface mineralization, ocean alkalinity enhancement, rock weathering enhancement, direct air capture, and biomass carbon removal and storage.
Frontier is urging more companies to get behind the plan, noting that the next five to ten years will be deterministic in long-term carbon removal.
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