I hope you saw the news, Google is providing about $6M of R&D funding for carbon dioxide removal and super pollutant elimination. (video on LinkedIn).
I love this because it comes at such a crucial time for carbon dioxide removal. Amid cuts at DOE, pullback in venture capital, slow down in purchasing of credits, this funding for research and development can be the turning point for companies that go on to prove out new methods of carbon dioxide removal.
This got me thinking -- this R&D funding represents about 5% of Google's carbon dioxide removal purchasing last year.
Imagine if every carbon dioxide removal purchaser followed Google's lead and allocated 5% of their carbon removal budget towards R&D.
The numbers get really interesting. For example, Microsoft, they've committed about $10 billion towards carbon dioxide removal credit purchases over the next decade. Add 5% of that for research and development grants, that's $500 million going into research and development for carbon dioxide removal.
Cash into companies today means experiments, prototypes, pilot projects.
Cash is really key - and though I love offtake agreements, they're rarely cash up front. A new headline about so-and-so buying $X million of carbon dioxide removal credits over the next decade doesn't translate into actual cash into the company until credit delivery, which is usually years away. That means there's a gap, and an opportunity for credit buyers to lead the way.
AirMiners has put a ton of emphasis on the technical side of carbon dioxide removal. But there's incredible opportunities in other parts of the carbon dioxide removal ecosystem, and this is one of them.
Maybe this could be added as part of the Frontier program. Maybe this is a non-profit or an organization. Or an initiative somebody else starts up (you?).
If this is an idea that you're interested in, if you want to stay informed on any updates, hit reply. Maybe you've worked on fundraising. Maybe you're coming from not a science background and you're trying to figure out how to contribute to carbon dioxide removal. This could be your opportunity to ride the wave.
I look forward to hearing back from you on this.
Tito
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