A group of major technology companies has formed a coalition to support emerging carbon removal technologies and announced a significant purchase of carbon credits from a Canadian firm that converts biowaste into permanently stored carbon. The coalition, which includes Google and Stripe, is part of Frontier — a broader industry-backed initiative designed to accelerate carbon removal solutions by committing upfront funding that helps de-risk projects and encourage scaling. Frontier plans to invest about $1 billion in carbon removal credits by 2030 as part of its long-term climate strategy.

This latest deal sees the coalition paying $44.2 million for carbon credits from NULIFE GreenTech, a Canadian company that processes agricultural and industrial waste — including food-processing by-products — into bio-oil. That bio-oil is then injected deep underground in salt caverns, where the carbon can be stored permanently and taken out of the atmosphere over time. The credits purchased cover the removal of 122,000 metric tons of carbon dioxide slated for storage between 2026 and 2030.

The approach aims to support technologies that can make a meaningful contribution to large-scale carbon removal, which many scientists and climate experts view as essential to offset emissions from hard-to-decarbonize sectors such as heavy industry, aviation, and agriculture. Permanent carbon removal is increasingly seen as necessary alongside emissions reduction strategies to meet global climate goals, and initiatives like Frontier’s are designed to help innovative solutions mature and attract more investment.

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Frontier’s model differs from traditional funding mechanisms by guaranteeing purchases in advance rather than reacting to supply. By committing capital early, the coalition helps projects secure financing, expand operations, and develop infrastructure needed to scale. Frontier’s organizers believe that creating a more predictable market for carbon removal credits will drive down costs and encourage broader adoption of promising technologies.

NULIFE GreenTech’s process — converting biowaste into stored bio-oil — is one of several approaches the coalition is backing. Frontier’s strategy emphasizes supporting a diverse portfolio of removal technologies to increase the likelihood that at least some can scale rapidly and cost-effectively toward gigaton-level capacity by the 2030s.

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Overall, this Big Tech-backed investment highlights how corporate climate initiatives are moving beyond emissions pledges toward concrete financial commitments that support carbon removal innovation and the development of long-term climate solutions.