Big Tech-backed coalition for carbon removal increases funding by $915 million, adds Anthropic

A coalition backed by Big Tech companies for carbon removal technology, ‌said on ⁠Wednesday ⁠it would inject an additional $915 million into the sector, and added Anthropic as a new participant.

Frontier, launched in 2022 by companies including Stripe and Google, aims to help scale carbon removal technologies by committing to buy ⁠credits in ‌advance, thereby derisking the projects and helping them grow more quickly.

The ⁠additional funding brings its total funding ​pledges to $1.8 billion. The new funding ​will target technologies including ocean alkalinity enhancement, biomass-based removal, enhanced rock weathering, and direct air capture.