- $80 million investment: Google, Stripe, and others purchase carbon credits to support emerging carbon capture technologies.
- Innovative solutions: CO280 uses oil industry tech at paper mills, while CREW deploys limestone-based capture at sewage plants.
- Scaling goals: Deals aim to reduce carbon removal costs to $100 per ton and deliver scalable, affordable solutions.
The News:
Google, Stripe, and other Frontier coalition members are investing $80 million in carbon credits to fund two firms deploying innovative carbon capture technologies at paper mills and sewage plants.
The Deals:
- CO280: Awarded $48 million to remove 224,500 metric tons of CO₂ (2028–2030) using oil field CCS technology at paper mill smokestacks.
- CREW: Secured $32.1 million to capture 71,878 tons of CO₂ using limestone filtration at municipal wastewater treatment plants.
Frontier coalition purchases carbon credits at prices far above the target—$214/ton for CO280 and $447/ton for CREW—to incentivize innovation and drive down costs.
Related Article: Brazil to Consult Indigenous Communities on Carbon Credits Sale
Why It Matters:
Tech-driven carbon capture remains at an early stage but could scale rapidly to remove billions of tons of CO₂ annually. Current methods remain costly, but Frontier’s strategy focuses on long-term affordability.
Hannah Bebbington, Frontier’s head of deployment, emphasized the significance:
“We are really excited about the possibility for large industrial players to integrate carbon removal technologies and start to deliver carbon removal cheaply and at scale.”
How It Works:
- CO280: Captures CO₂ at paper mills using proven oil field technology, targeting carbon released by the trees used to produce paper.
- CREW: Adds carbon-attracting limestone to sewage plant water, leveraging rocks’ natural ability to absorb CO₂.
This approach showcases how older industries can adopt modern solutions to cut emissions effectively.
Looking Forward:
Frontier’s investments reflect a broader effort by tech and finance sectors to accelerate climate tech innovation, even amid uncertain policy support. These early deals aim to pave the way for cost-effective, large-scale carbon removal that aligns with global decarbonization targets.
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