- Growth AMC promises future commitments to remove carbon
- Startups should be able to get investor funding because of the increased confidence
- Carbon removal will rely on several technologies, such as biomass storage and improving ocean alkalinity
Frontier, a coalition focused on decarbonization whose members include Google, Anthropic and Salesforce, has announced a new $915 million Growth Advanced Market Commitment (AMC) after four years of decarbonization work, bringing total investments to $1.8 billion.
The initiative is designed to solve one of carbon removal’s biggest problems – that there is not enough demand to justify investors funding larger commercial projects.
To tackle that, Frontier commits to buying future carbon removal to give startups predictable revenue, ultimately helping them secure funding to develop the technology.
The Frontier Coalition commits to buying future carbon removals
Frontier’s previous work showed that permanent carbon removal technologies can be built and have already worked successfully, so now it’s focused on providing 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, which promises to make large, multi-year purchase commitments. Other partners that have collectively purchased on behalf of their customers include Canva, Skyscanner, Zendesk and more.
“To get to gigaton scale, companies and governments will need to work together,” the group wrote.
Under the group’s gigaton portfolio, it does not believe there will be one winning carbon removal technology, but that success runs on multiple systems running simultaneously. This portfolio should include surface mineralization, ocean alkalinity enhancement, enhanced rock weathering, direct air capture, and biomass carbon removal and storage.
Frontier is calling on more companies to back the scheme, noting that the next five to 10 years will be crucial for long-term carbon removal.
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