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Big Law

H&M, Shopify, and Stripe Spend $7 Million on Carbon Removal from a Dozen Startups

Stripe, Shopify and H&M Group announced Thursday they are spending $7 million on carbon removal from a dozen new startups.

The deal was facilitated by Frontier, a public benefit company owned by payment processing company Stripe, which launched in April 2022 to accelerate the development of carbon removal technologies and make sure there is future demand to support the growth of the nascent industry.

Stripe, Shopify and H&M are three of the member companies of Frontier, and together, they spent $7 million on carbon removal purchases from 12 companies: Airhive, Alkali Earth, Banyu Carbon, Carbon Atlantis, CarbonBlue, CarbonRun, EDAC Labs, Holocene, Mati, Planetary Technologies, Spiritus Technologies and Vaulted Deep.

Read the source article at CNBC

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