SASKATOON, Saskatchewan--(BUSINESS WIRE)--NULIFE GreenTech, a leader in innovative carbon removal solutions, has been selected by Frontier as part of its 2024 prepurchase cycle. Frontier, an advance market commitment founded by Stripe, Alphabet, Shopify, Meta, and McKinsey Sustainability, aims to accelerate the development of carbon removal technologies by facilitating over $1 billion in carbon removal purchases by 2030.
NULIFE GreenTech uses a cutting-edge process called hydrothermal liquefaction to efficiently transform wet waste biomass into bio-oil, which is injected into underground geological storage for permanent carbon removal. This innovative approach not only sequesters carbon but also captures contaminants like PFAS and other waste toxins, offering a robust solution to pressing environmental challenges. Additionally, NULIFE’s process generates potential co-product revenue streams, such as biogenic CO2, enhancing the resilience and sustainability of their business model.
“We are thrilled to be selected for a prepurchase by Frontier buyers. This milestone is a significant step forward in our journey to make a substantial impact on global carbon removal efforts,” said Jerry Kristian, Co-Founder of NULIFE GreenTech. “Frontier’s support is crucial as we continue to scale our technology and work towards creating a sustainable future.”
Frontier’s prepurchase program is designed to support early-stage suppliers like NULIFE by providing funds upfront, accelerating the development of new technologies that are essential to achieving gigaton-scale carbon removal. This approach helps to de-risk investments in innovative solutions and sends a strong signal to researchers, entrepreneurs, and investors about the growing market for carbon removal.
NULIFE’s inclusion in Frontier’s portfolio highlights the potential of hydrothermal liquefaction as a scalable and effective solution for permanent carbon removal. By transforming waste biomass into bio-oil and ensuring its safe, permanent storage, NULIFE not only contributes to reducing atmospheric CO2 but also provides a pathway for managing waste and environmental contaminants.
About Frontier:
Frontier is an advance market commitment to purchase an initial $1 billion of permanent carbon removal between 2022 and 2030. Founded by Stripe, Alphabet, Shopify, Meta, McKinsey Sustainability, and tens of thousands of businesses using Stripe Climate, Frontier’s goal is to accelerate the development of carbon removal technologies by guaranteeing future demand. Frontier facilitates purchases from high-potential carbon removal companies on behalf of its buyers, aiming to store carbon permanently, avoid competition for arable land, and achieve affordability at scale. More information can be found at www.frontierclimate.com.
