ESG Today writes that CarbonCapture and Heirloom are the two companies that will be removing carbon emissions on behalf of industry members such as H&M and Alphabet.

Experts at the Intergovernmental Panel on Climate Change (IPCC) claim that we will have to remove billions of tons of CO2 from the atmosphere over the coming decades so that we can hit our long-term climate goals.

Hannah Bebbington, Strategy Lead at Frontier, said that "getting DAC to gigaton scale requires finding ways to quickly drive down costs. Heirloom and CarbonCapture are each pursuing creative—and distinct—approaches to doing that."

The individual carbon capture agreements are as follow: 20 million USD for CarbonCapture to remove 45.000 tons of CO2, as well as 26.6 million USD for Heirloom to remove 26.900 tons themselves.

CarbonCapture CEO Adrian Corless, added that "large offtake agreements like this are critical to us because they demonstrate commercial viability and unlock a path to scale."

Heirloom's strategy to capture carbon emissions counts on accelerating the natural processes to achieve this, specifically through carbon mineralization.

Heirloom CEO and Co-founder Shashank Samala said that "by harnessing the natural properties of an earth-abundant mineral, limestone, Heirloom has moved quickly from lab to commercial scale and halved the costs of our removals in just over two years. Offtake agreements like these allow us to continue moving quickly towards high scale and low-cost direct air capture."