Frontier Carbon Removal Fund Makes $7 Million in New Commitments

The Stripe-led group purchased services from 12 startups that remove carbon from the atmosphere using everything from rivers to machines.

Stripe Inc.’s $1 billion Frontier fund has written its third round of checks to startups attempting to suck carbon dioxide out of the atmosphere.

Frontier facilitated the purchase of $7 million of carbon removal services from 12 startups on behalf of Stripe — which initiated the fund — Shopify Inc. and Hennes & Mauritz AB (H&M). The startups use a variety of techniques to remove carbon from the air. Among them are CarbonRun, which changes the alkalinity of rivers to enhance their natural ability to remove CO₂, and Banyu Carbon, which uses sunlight to pull CO₂ from seawater. A number of companies remove carbon from the ambient air using machines, a process known as direct air capture.