- Growth AMC Pledges Future Carbon Removal Commitments
- Startups should be able to secure funding from investors thanks to increased confidence
- Carbon removal will rely on several technologies, such as biomass storage and improving ocean alkalinity.
Frontier, a coalition focused on carbon removal whose members include Google, Anthropic and Salesforce, announced a new $915 million Advanced Market Growth (AMC) commitment 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 in carbon removal: there is not enough demand to justify investors funding larger commercial projects.
To address this issue, Frontier is committing to purchasing future carbon emissions to give startups predictable revenue, helping them secure funding to develop the technology.
Frontier Coalition Commits to Buying Future Carbon Removal
Frontier’s previous work has proven that permanent carbon removal technologies can be built and have already worked successfully. The goal now is to provide startups with a bridge between prototypes and large-scale deployment by 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 who are promising to make significant, multi-year purchasing commitments. Other partners who aggregate purchases on behalf of their customers include Canva, Skyscanner, Zendesk, and many others.
“To reach gigaton scale, businesses and governments will need to work together,” the group wrote.
Within the group’s gigatonne portfolio, the group does not believe there will be a single winning carbon removal technology, but that success relies on multiple systems operating simultaneously. This portfolio is expected to include surface mineralization, ocean alkalinity enhancement, rock weathering enhancement, direct air capture, and biomass carbon removal and storage.
Frontier is urging more companies to support the project, noting that the next five to 10 years will be deterministic when it comes to long-term carbon removal.
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