Frontier Carbon Removal Fund Makes $57 Million Bet on Crushed Rocks
Alphabet and JPMorgan are among the buyers of carbon removal services from an early-stage startup with an intriguing promise.
A farmer prepares a field in Argentina for planting soybeans. Startup Lithos Carbon uses spreads crushed rocks on farmland that can help speed the uptake of CO2 and restore soil.
Photographer: Sebastian Lopez Brach/BloombergA Stripe-led group that buys carbon removal services has made its biggest bet yet on a small startup that uses crushed rocks to clean the atmosphere.
Alphabet Inc. and JPMorgan Chase & Co. are among the buyers that will pay Lithos Carbon $57.1 million to remove around 154,000 tons of carbon, Frontier announced Thursday. The San Francisco-based startup will pull that amount of carbon dioxide from the atmosphere between 2024 and 2028 using a technique known as enhanced rock weathering (ERW).