Shopify Backs 9 New Carbon Removal Companies

Shopify Backs 9 New Carbon Removal Companies - Carbon Herald

Shopify has announced its support for 9 more tech companies dedicated to carbon removal. 

The Canadian e-commerce giant is supporting these companies through its Sustainability Fund and has brought the total amount of carbon removal purchases up to $32 million. 

For eight of these companies, Shopify has become the largest purchaser and the first purchaser for four of them.

By partnering up with these budding enterprises, the e-commerce firm seeks to provide them with a strong revenue stream that would help them secure funding and also draw the attention of other buyers to help speed up decarbonization.

In order to help nations across the world meet climate goals, carbon removal efforts require quick scaling, and Shopify is among the major corporate entities that recognize this need. 

Relevant: Carbon Engineering Strikes A Carbon Removal Deal With Shopify

With this latest round of carbon removal purchases, Shopify has become one of the largest buyers of long-term CO2 removal. 

And each of the companies the e-commerce firm has partnered with offers a different solution to pulling CO2 out of the air and permanently storing it away. 

For instance, Noya and Sustaera specialize in direct air capture (DAC), while CarbonBuilt produces carbon-negative concrete. 

Relevant: Stripe Is Investing in Carbon Capture And Other Climate Tech

DroneSeed, another company Shopify has recently purchased CO2 removal from, uses drones to promote rapid reforestation, thus providing natural carbon sequestration, similarly to Loam Bio that helps enhance the natural carbon sequestration properties of soil. 

Finally, Shopify has also partnered with firms that handle the logistics of the captured CO2, aka transportation and storage: Twelve, Remora and 44.01. 

The listed 9 companies now join the rank of 13 others that have already also received funding from the corporation via its Sustainability Fund, all of which were selected based on a number of factors, including their technology and the size of the impact Shopify’s purchase could have. 

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