SynopsisA major coalition is injecting an additional 915 million dollars into carbon removal technology. This significant funding boost aims to scale up vital climate solutions. Anthropic has joined the initiative as a new participant. The coalition plans to make focused investments through long-term contracts. These efforts are crucial for offsetting emissions from hard-to-abate sectors.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.Frontier said these technologies could collectively reach gigaton scale, though each ‌carries distinct cost and technology risks. Frontier said it plans to make ​approximately 10 ​to 15 focused ⁠bets through eight- to ten-year offtake contracts extending as far as 2040.It did not break ​down how much each company contributed. Scientists say carbon removal projects are critical to offset emissions from sectors that continue to rely on fossil fuels. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now