Published by Todd Bush on November 17, 2023
Frontier facilitates one of the largest carbon removal purchases to date on behalf of multiple buyers including Stripe, Alphabet, Shopify, Meta, JPMorgan Chase, and McKinsey Sustainability
LOS ANGELES, Nov. 16, 2023 (GLOBE NEWSWIRE) -- CarbonCapture Inc. (CarbonCapture), a leading direct air capture (DAC) company, announced today that Frontier has facilitated a multi-year offtake agreement with CarbonCapture on behalf of Stripe, Alphabet, Shopify, Meta, McKinsey Sustainability, Autodesk, H&M Group, JPMorgan Chase, Watershed, and Workday. Collectively, these buyers will pay CarbonCapture $20 million to permanently remove 45,500 tons of carbon dioxide from the atmosphere by 2030.
“We're extremely pleased to be supplying Frontier and its members with high-quality DAC carbon removal,” said Adrian Corless, CEO of CarbonCapture Inc. “Large offtake agreements like this are critical to us because they demonstrate commercial viability and unlock a path to scale. We highly value Frontier's confidence in our technology and team, particularly as we emerge from the lab and begin deployment.”
To efficiently absorb carbon dioxide from the atmosphere, CarbonCapture's DAC machines use solid sorbents that regenerate at relatively low temperatures. Since the choice of sorbent plays a pivotal role in influencing both capital expenditures and energy requirements, the company has developed a DAC platform based on a modular open systems architecture that enables the seamless integration of next-generation sorbents. This strategy empowers CarbonCapture to drive down costs by upgrading sorbents in existing units, eliminating the need to construct entirely new facilities in order to leverage the latest sorbent breakthroughs.
“Getting DAC to gigaton scale requires finding innovative ways to quickly drive down costs,” said Hannah Bebbington, Strategy Lead, Frontier. “CarbonCapture is doing that by cultivating a pipeline of innovative sorbents and building a modular and upgradeable capture system that allows them to swap in best-in-class sorbents as they become available.”
CarbonCapture develops and deploys direct air capture (DAC) machines that can be connected in large arrays to remove massive amounts of carbon dioxide from the atmosphere. With a groundbreaking modular open systems architecture, the company’s technology platform allows for plug-and-play sorbent upgrades, mass production, and unlimited scalability. CarbonCapture’s systems capture atmospheric carbon dioxide for either permanent removal or for utilization in low-carbon synthetic fuels, concrete, and other industrial products. For more information, please visit CarbonCapture.com or follow @CarbonCaptureUS.
Frontier is an advance market commitment to buy an initial $1B of permanent carbon removal between 2022 and 2030. It was founded by Stripe, Alphabet, Shopify, Meta, McKinsey Sustainability, and tens of thousands of businesses using Stripe Climate. Frontier’s goal is to accelerate the development of carbon removal technologies by guaranteeing future demand for them. In practice, its team of technical and commercial experts facilitates purchases from high-potential carbon removal companies on behalf of buyers.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🛢️ Chevron Doubles Down on U.S. Hydrogen Innovation with Dual Projects in Texas and California 🧾 Exclusive: White House Considers Plan to Clear Record Backlog of Small Refinery B...
Inside This Issue 💸 Trump Administration Cancels $3.7 Billion in Clean Energy Projects, Ending Ambitious Industrial Decarbonization Efforts 🌊 A New Protocol for Carbon Removal via Direct Ocean Cap...
Inside This Issue ⚡ Energy Department Removes Barriers for American Energy Producers, Unleashing Investment in Domestic Hydrogen 🛳️ MASH Makes Powers First Vessel Trial With Biofuel From a Carbon-...
Aggreko’s North American Headquarters Replaces Diesel with Biofuel, Reducing CO2 by up to 60%
Service centers in four cities replace all internal fuel needs with HVO biofuel instead of diesel HOUSTON, June 04, 2025 (GLOBE NEWSWIRE) -- Aggreko, a global leader in energy solutions, announced...
Wise Partners With Opna to Drive Climate Resilience With High-impact Carbon Removal
Wise commits £500,000 to support carbon removal projects in climate-vulnerable regions Portfolio includes nature-based and hybrid solutions designed to deliver measurable climate impact and commun...
Navitas & BrightLoop Partners to Provide Next-Generation Hydrogen Fuel-Cell Charging
GeneSiC™ MOSFET technology enables unmatched power density for high-voltage, high-power ‘multiverters’ in fuel-cell and heavy-duty transportation. TORRANCE, Calif., June 03, 2025 (GLOBE NEWSWIRE) ...
Venture Global Launches Site Work at CP2 LNG Following Federal Approval
ARLINGTON, Va.--(BUSINESS WIRE)--Venture Global, Inc. ($VG) announced today that it has initiated full mobilization and started site work at the company’s third LNG export facility, CP2 LNG. The la...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.