Tech Giants Pledge $80 Million to Fund Efforts in Reducing Carbon Emissions of Paper Mills and Sewage Plants

The Frontier coalition invests in projects to make carbon removal affordable at $100 per ton or less in the future.

By Thea Felicity

Dec 17 2024, 09:50 AM EST

Sewage Spills Impact River Irwell — MANCHESTER, ENGLAND - OCTOBER 10: An aerial view of treated waste water flowing into the River Irwell from the Bolton Wastewater Treatment Works operated by United Utilities Ltd on October 10, 2024 in Manchester, England. Flowing through the major English cities of Manchester and Salford, the River Irwell is a popular waterway amongst anglers and rowers alike, but its waters have become contaminated by high numbers of sewage dumps. According to data released by the UK's Environment Agency and analysed by The Guardian, 2023 saw nearly 12,000 sewage spills in the Croal Irwell catchment area, up from 7,168 in 2022, making it the worst sewage dumping ground in England. Christopher Furlong/Getty Images

Several climate tech companies have gained access to a collective $80 million in funding by capturing the industrial carbon emissions associated with a paper mill and wastewater plants.

This size of funding came from technological giants, for example, Google, Stripe, and H&M which made a promise with their Frontier coalition to acquire carbon credits. These credits finance the development of technologies that can remove carbon dioxide from the atmosphere - an important effort to fight climate change.

While President-elect Donald Trump is likely to shift US policy away from climate agreements, Reuters shared that private companies are moving ahead on innovative carbon capture solutions. The primary goal of the Frontier coalition is to drive down the cost of carbon removal technologies.

Climate Tech Companies Commit to Carbon Capture and Storage Technology

These technologies are currently cost-prohibitive, but Frontier hopes to make them reach $100 or less per ton by investing in promising projects to achieve this.

One of these projects is led by CO280, which makes use of carbon capture and storage (CCS) technology developed by oil services company SLB to catch emissions from a paper mill's smokestack. The technology, in question, captures carbon that trees had initially absorbed during paper production.

Another firm, CREW, is testing carbon removal at wastewater treatment plants with limestone, a rock that by nature attracts CO2. By adding limestone to water and measuring levels of CO2 before and after treatment, they calculate how much carbon is captured. Though still in the early stages, these methods demonstrate how industrial processes can be upgraded to reduce emissions efficiently.

Frontier will pay CO280 $48 million for capturing more than 224,000 tons of carbon between 2028 and 2030, while CREW will receive $32 million for removing around 72,000 tons. The cost per ton remains expensive—$214 for CO280 and $447 for CREW—but according to experts, such investments will be required to scale these technologies and reduce their costs later on, StreetInsider reported.