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…