Vaulted Deep has secured $35 million in debt financing as the Houston-based waste management and carbon removal company moves to expand its network of underground waste disposal sites across the U.S.
The financing from Mediobanca, arranged by CFP Energy, is being backed by Vaulted’s waste service agreements and contracted carbon removal revenue. The company said it is the largest publicly disclosed U.S. commercial debt deal in durable carbon removal secured by long-term purchase contracts.
The new capital will support additional waste disposal projects and further development of Vaulted’s technology for finding, permitting and operating injection sites. The company says it delivered more than 20,000 tons of carbon removal to Frontier buyers during the first half of 2026, more than it delivered during all of 2025.
“Waste operators across the country need new options as traditional disposal options become limited,” Julia Reichelstein, Vaulted Deep’s CEO and co-founder, said in the release. “This financing lets us take on more projects and invest in the tools that help us evaluate and develop new sites faster.”
Hannah Bebbington Valori, a spokesperson for Frontier, said the deal illustrates the group’s approach to building the carbon removal industry. “Robust demand for carbon removal, in the form of large, multi-year offtake agreements, gives companies the ability to raise the capital required to build and expand their businesses,” she said.
Microsoft and Google have already placed bets on Vaulted Deep
The financing follows a series of high-profile corporate commitments to Vaulted Deep. In July 2025, Microsoft agreed to purchase up to 4.9 million tonnes of durable carbon dioxide removal from Vaulted over 12 years, helping support expansion across the U.S.
Microsoft’s Brian Marrs described Vaulted’s approach as having “low technology risk” while combining carbon removal with waste-management benefits.
Google has also backed the company. In 2025, it agreed to purchase another 50,000 tonnes of carbon removal for delivery by 2030 and joined Vaulted and scientific partners in examining how to measure methane emissions avoided through its waste operations.
A growing, but still developing, global market
Vaulted’s model sits within a broader wave of companies attempting to turn biomass and organic waste into durable carbon storage. The World Resources Institute has highlighted companies including Charm Industrial, Graphyte, Corigin and Vaulted Deep as examples of different approaches to biomass carbon removal and storage.
Other companies globally include Exomad Green, Varaha and Carboneers, which are also active in carbon removal using biomass or agricultural systems. CDR.fyi currently tracks 50.5 million tonnes of contracted durable carbon removal globally, compared with 1.7 million tonnes delivered, underscoring both the rapid growth in commitments and the gap between contracts and physical deployment.
For Vaulted, the latest financing points to a key test for the sector: turning long-term corporate demand for carbon removal into the infrastructure needed to deliver it at scale.
