Frontier buys $31M worth of antacids for the ocean

Frontier, a carbon removal initiative backed by tech giants like Google, Stripe, and Shopify, has made headlines with its latest acquisition of carbon removal credits. The organization has committed to purchasing 115,208 metric tons of credits from the geoengineering startup Planetary, in a transaction valued at $31.2 million. This agreement represents a significant shift for Frontier, as it marks their first venture into enhancing ocean alkalinity for carbon removal. Traditionally, Frontier's investments have focused on startups specializing in methods such as direct air capture and enhanced weathering. The deal with Planetary values each metric ton of carbon removal at approximately $270, although Planetary aims to lower this cost to under $100 per ton in the future. Enhancing ocean alkalinity holds the potential to eliminate over a billion metric tons of carbon dioxide each year. While the oceans have historically mitigated climate change effects by absorbing atmospheric CO2, this process has led to a concerning decline in pH levels, making oceans 30% more acidic than they were in the early 1800s. This increased acidity poses a threat to marine life, particularly organisms like coral and shellfish that rely on alkaline waters for their shell and skeleton formation. Currently, Planetary employs magnesium hydroxide—the same compound found in common antacids—to boost ocean alkalinity. This approach is implemented at wastewater treatment plants and power facilities that already discharge water into the ocean, minimizing coastal disruption and keeping operational costs manageable. Presently, Planetary is executing two projects, one located in Nova Scotia and the other in Virginia.