Frontier facilitates third round of carbon removal purchases
Frontier has facilitated $7M of carbon removal purchases from 12 companies—Airhive, Alkali Earth, Banyu Carbon, Carbon Atlantis, CarbonBlue, CarbonRun, EDAC Labs, Holocene, Mati, Planetary Technologies, Spiritus Technologies, and Vaulted Deep—on behalf of buyers Stripe, Shopify, and H&M Group. In addition, Stripe has provided $500K in R&D grants to Carboniferous and Rewind, and $200K to Arbon and Vycarb as part of a partnership with Activate.
Over the last three months, the Frontier team evaluated 132 applications along with 230 pages of technical reviews on selected applications from Frontier’s global network of scientific experts. This cycle we saw a more than 7X increase in applications proposing solutions that can store CO₂ for 1,000+ years compared to Stripe’s first purchase cycle three years ago.
The companies selected are pursuing 14 distinct approaches to carbon removal. These include a photo-excitable molecule to extract CO₂ from seawater, a slurry sequestration technology that lowers the costs of biomass injection, and enhancing the carbon absorption capacity of rivers with minerals. Collectively, they address all five of the priority innovation areas identified in Frontier’s RFP, including reducing the energy and cost of direct air capture and accelerating weathering rates of geochemical approaches.
This is Frontier’s most geographically diverse cohort of companies to date, with headquarters in five different countries. Deployment sites include rice paddy farms in central India, gravel roads in northern Indiana, watersheds in Nova Scotia, and a desalination plant on the Mediterranean coast of Israel. Based on their own projections, the selected companies could collectively remove more than half a million tons of CO₂ annually by 2026.
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Frontier is an advance market commitment to buy an initial $1B of carbon removal by 2030. It was founded by Stripe, Alphabet, Shopify, Meta, and McKinsey Sustainability.
If you are a carbon removal supplier, we’d love to hear from you. You can find more details about Frontier’s purchase process here.
If you are interested in becoming a buyer of carbon removal through Frontier, please get in touch at firstname.lastname@example.org.