Frontier commits $915m more to carbon removal, adds Anthropic as buyer
Frontier, the corporate-backed advance market commitment for carbon dioxide removal, has announced a further $915 million in funding commitments, bringing its total pledged spending on permanent carbon removal to $1.8 billion since its founding in 2022.
The new funding round, which Frontier is calling its “Growth AMC,” includes participation from existing buyers Stripe, Google, Shopify, Salesforce, H&M Group, Workday and McKinsey Sustainability, alongside the addition of Anthropic as a new buyer. Frontier said the expanded commitment marks a shift in strategy from its founding phase, moving away from smaller prepurchases spread across many early-stage suppliers toward a narrower group of roughly 10 to 15 companies it judges to have gigaton-scale potential.
Under the new structure, deals will typically take the form of 8-to-10-year offtake agreements designed to help suppliers reach final investment decision at commercial scale, with contracts running as far out as 2040. Frontier said every future deal will require a credible pathway to long-term demand by the time contracts expire, whether through compliance carbon markets, industrial regulation, or direct government procurement.
Since its 2022 launch, Frontier has diligenced more than 500 carbon removal companies and says the number of firms working on the technology has grown from around a dozen to several hundred, spanning more than 20 distinct technical approaches. Frontier-backed purchases have helped fund the first commercial deals in enhanced rock weathering, inland water alkalinity enhancement, ocean alkalinity enhancement, biomass injection, and waste-to-energy carbon capture. In 2025, seven portfolio companies delivered a combined 23,000 tonnes of removed carbon, roughly double the prior year’s volume, while breaking ground on 1.4 million tonnes of new annual removal capacity; Frontier is forecasting more than 50,000 tonnes of deliveries this year.
Frontier estimates that more than 350 new corporate buyers have entered the carbon removal market since 2022, spanning financial services, aviation, consumer retail, education, entertainment and automotive sectors, with combined purchases now approaching four million tonnes. The organisation also pointed to demand-side policy developments in Denmark, Sweden, the Netherlands, Germany, the UK, the EU, Japan, the US and Canada as evidence that government-backed demand is beginning to emerge alongside voluntary corporate purchasing.
In outlining its view of the sector’s scaling potential, Frontier set out cost and volume estimates across pathways: surficial mineralization could scale beyond 10 gigatonnes annually at $80–120 per tonne; ocean alkalinity enhancement using limestone calcination could exceed 10 gigatonnes at $70–200 per tonne; biomass carbon removal and storage could reach 1–5 gigatonnes at $60–200 per tonne; enhanced rock weathering is capped at roughly 1–2 gigatonnes at $75–200 per tonne due to feedstock and cropland constraints; and direct air capture could scale beyond 10 gigatonnes at $200–300 per tonne, contingent on major reductions in the energy required per tonne captured.
Anthropic’s participation marks its first publicly disclosed climate-related commitment and its entry into a buyers’ group whose founding members include Stripe, Google and Shopify. Frontier said it will continue to fund early-stage research and smaller prepurchases alongside its larger offtake deals, and called on more corporate buyers and policymakers to help build the conditions for long-term demand at gigaton scale.
