'We've proven that carbon removal technology can work': Google, Anthropic, Salesforce and others pledge nearly $1 billion on new environmental push

• Growth AMC promises future carbon removal commitments
• Startups should be able to get investor funding due to the boosted confidence
• Carbon removal will rely on multiple technologies, like biomass storage and ocean alkalinity enhancement

Frontier, a coalition focused on carbon removal whose members include Google, Anthropic and Salesforce, has announced a new $915 million Growth Advanced Market Commitment (AMC) after four years of work on carbon removal, bringing total investments to $1.8 billion.

The initiative is designed to solve one of carbon removal's biggest problems – that there's not sufficient demand to justify investors financing bigger commercial projects.

In order to tackle that, Frontier is committing to buying future carbon removal to give startups predictable revenue, ultimately helping them to secure funding to develop the tech.

Latest Videos From

Watch full video here:

Frontier coalition commits to buying future carbon removal

Frontier's earlier work proved that permanent carbon removal technologies can be built and that they've already operated successfully, so now it's focused on giving startups 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 promise to make large, multi-year purchase commitments. Other partners who aggregate purchased on behalf of their customers include Canva, Skyscanner, Zendesk and more.

"To get to gigaton-scale, companies and governments will need to work in concert," the group wrote.

Under the group's gigaton portfolio, it doesn't believe that there will be one winning carbon removal technology, but that success rides on multiple systems running simultaneously. That portfolio should include surficial mineralization, ocean alkalinity enhancement, enhanced rock weathering, direct air capture and biomass carbon removal and storage.

Frontier is urging more businesses to back the scheme, noting that the next five to 10 years will be deterministic in longer-term carbon removal.

Follow TechRadar on Google News and add us as a preferred source to get our expert news, reviews, and opinion in your feeds.