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00:03Frontier, a big tech-backed coalition launched in 2022 by companies including Stripe and Google,
00:08announced Wednesday it will inject an additional $915 million into carbon removal technology,
00:14according to Reuters. The new commitment brings its total funding pledges to $1.8 billion,
00:20while Anthropic joined as a new participant. The coalition advances the sector by committing to
00:25buy credits in advance, reducing risk, and accelerating project growth. The new funding
00:31will target ocean alkalinity enhancement, biomass-based removal, enhanced rock weathering,
00:36and direct air capture. Frontier said it plans to make 10 to 15 focused bets through 8 to 10-year
00:43offtake contracts extending as far as 2040. The coalition said these technologies could
00:48collectively reach gigaton scale, though each carries distinct cost and technology risks.
00:52For all things money, visit Benzinga.com.
00:55For all things money, visit Benzinga.com.
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