Carbon-removal startups win early backing from Stripe

Stripe and Shopify pledged €10.8m to startups working on ways to sequester greenhouse gas

Right now, only Shopify and Stripe, led by John and Patrick Collison, have made financial commitments to companies extracting carbon from the air.

A new group of early-stage carbon-removal startups received pledges of $11.5m (€10.8m) from Stripe and Shopify as the Silicon Valley companies continue their effort to create a robust market for technologies that remove carbon dioxide from the atmosphere.

This is the second batch of startups working on ways to sequester greenhouse gas, such as storing CO2 deep in the ground or pulling it out of the ocean, that have won support from Frontier, a $925m (€869m) effort started last year, inspired by similar projects at the two technology giants.