Frontier Raises Over $900 Million for Carbon Removal Investments from Google, Anthropic and Others

Carbon removal advanced market commitment (AMC) coalition Frontier announced that it has doubled its funding, raising an additional $915 million from corporate buyers including Stripe, Google, Shopify, Salesforce, H&M Group, and Anthropic.

Launched in 2022 with $925 million in commitments by tech companies Stripe, Alphabet, Shopify and Meta and global management consulting firm McKinsey, Frontier is an advance market commitment to buy permanent carbon removal, aimed at accelerating the development of carbon removal technologies with guarantees of future demand. The new funding takes Frontier’s total commitment to $1.8 billion.

In its announcement, Frontier noted key developments in the carbon removal sector since the organization’s launch in 2022, including the expansion in the number of carbon removal companies from around a dozen to hundreds, spanning more than 20 technology approaches, as well as the emergence of more than 350 new corporate buyers across the financial services, aviation, consumer retail, education, entertainment, and automotive sectors, with collective purchases of almost four million tons of carbon removal.

In its own portfolio, Frontier said that 7 companies broke ground on 1.4 million tons of new annual removal capacity in 2025, and are forecast to deliver more than 50,000 tons of carbon removal in 2026, more than doubling for the second year in a row.

According to Hannah Bebbington Valori, Head of Frontier, while the initial AMC was designed to “get carbon removal off the starting line,” the new “Growth AMC” will focus on “pushing the best companies to the scale that enables robust, long-term demand.”

Frontier said that it will focus on 2 priorities, including concentrating purchases on a narrower portfolio of companies where it sees high conviction of gigaton-scale potential on the supply side, and requiring a clear line of sight to robust, long-term demand in every deal on the demand side.

The new AMC will target larger and longer contract, seeking approximately 10–15 focused bets through 8- to 10-year offtakes to get projects to final investment decision (FID) at commercial scale, including buying a significant share of a company’s available capacity, and contracting out as far as 2040.

Frontier said that it will also prioritize projects with a credible theory for how policies will cover the cost of tons delivered by the time its contracts expire, including favoring jurisdictions with meaningful carbon removal policies, and that it will also look to continue funding for the best new carbon removal ideas through prepurchases, smaller offtakes, and R&D grants.

Randy Spock, Head of Carbon Credits and Removals at Google, said:

“At Google, we believe in the power of science and technology to mitigate planetary warming. Frontier’s mission is a cornerstone of this approach, and we’re excited to expand our support for these critical solutions alongside other leading companies.”