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Frontier just doubled its carbon removal bet to $1.8 billion

Frontier just doubled its carbon removal bet to $1.8 billion

Photo: M Safiei Omar

Frontier, the Big Tech-backed coalition that pays companies to pull carbon dioxide out of the atmosphere before the technology is proven at scale, just doubled its financial commitment. The group announced Wednesday it would inject an additional $915 million into carbon removal, bringing its total pledges to $1.8 billion, and added Anthropic as a new participant.

The move is a bet on technologies that most energy markets still treat as science experiments.

What Frontier actually does

Frontier was launched in 2022 by companies including Stripe and Google. Its core strategy is straightforward: instead of waiting for carbon removal to become cheap and reliable on its own, member companies commit to buying credits in advance. That advance purchase removes the financial risk that would otherwise kill early-stage projects before they can grow. In plain terms, Frontier is a guaranteed customer for technologies that don't yet have customers.

The new funding will target four approaches: ocean alkalinity enhancement (adjusting ocean chemistry to absorb more CO2), biomass-based removal (locking carbon from plants into long-term storage), enhanced rock weathering (spreading silicate rock on farmland to react with and trap CO2), and direct air capture (machines that pull CO2 directly from the atmosphere). Each of those approaches currently operates at relatively small scale and carries its own mix of cost challenges and technical uncertainty. Frontier acknowledged as much, noting that each technology carries "distinct cost and technology risks."

The group plans to make roughly 10 to 15 focused bets through contracts lasting eight to ten years, some extending as far as 2040.

Why this matters beyond the climate math

The immediate question is whether $1.8 billion, spread across a decade and multiple unproven technologies, is enough to meaningfully change anything. Scientists say carbon removal is critical because some sectors, including aviation, shipping, and heavy industry, cannot easily eliminate fossil fuel use. Removing carbon from the air is meant to offset what those sectors keep emitting.

But the more important story here is structural. Carbon removal has struggled with what economists call the chicken-and-egg problem: startups can't get cheap financing until they have buyers, and buyers won't commit until prices fall. Frontier's advance-purchase model is designed to break that loop. By acting as a credible, long-term buyer, the coalition lets project developers raise money, build equipment, and bring down costs, which is exactly how solar and wind power became affordable over the past two decades.

Whether carbon removal follows that same cost curve is genuinely uncertain. Direct air capture, the most flexible of the four technologies, currently costs anywhere from hundreds to over a thousand dollars per ton of CO2, making it expensive compared to most other climate interventions. Frontier's own framing, that these technologies "could collectively reach gigaton scale," uses careful language. A gigaton is roughly what the entire global aviation industry emits in a year. Getting there would require a transformation in cost and deployment that hasn't happened yet.

Anthropic's addition matters less for its money than for its signal. Anthropic is one of the most prominent AI companies in the world right now, and its joining a coalition that already includes Google and Stripe tells other large technology companies that this is a space their peers take seriously. Coalition membership tends to grow by social proof as much as by economics.

The deeper pattern here is that large technology companies are increasingly acting as infrastructure builders for climate solutions that governments have been slow to fund at scale. That's a significant shift in where early-stage climate investment comes from. Whether it produces durable technology or expensive carbon credits that never scale is a question that Frontier's own 2040 contracts will eventually have to answer.