Google, Meta coalition to invest $44.2 million in Canadian biowaste carbon removal firm: Report

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A coalition backed by Big Tech companies including Google and Meta has agreed to pay $44.2 million for carbon credits from a Canadian company that aims to remove carbon dioxide from biowaste, the coalition’s head of deployment told Reuters.

Frontier, launched in 2022 by Stripe, Google, Meta, Shopify and McKinsey, 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 group plans to spend $1 billion on credits between 2022 and 2030.

Its latest deal…



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Google, Meta coalition to invest $44.2 million in Canadian biowaste carbon removal firm: Report



A coalition backed by Big Tech companies including Google and Meta has agreed to pay $44.2 million for carbon credits from a Canadian company that aims to remove carbon dioxide from biowaste, the coalition’s head of deployment told Reuters.

Frontier, launched in 2022 by Stripe, Google, Meta, Shopify and McKinsey, 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 group plans to spend $1 billion on credits between 2022 and 2030.

Its latest deal…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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