Imagine if there was a budding new industry, and Microsoft, Amazon, Stripe, and the US Department of Energy were investing in it. Sound familiar?
Now add Shopify to the list, they just invested $5M into a bunch of different carbon removal companies. You can read all about it here on their detailed Shopify Sustainability Fund website.
Big picture, this Shopify deal adds some new categorization to the air mining ecosystem. Shopify shined a spotlight on a bunch of up and coming categories like ocean based carbon removal, mineralization, and even collaboration. "If you can't be first, create a new category" the saying goes. They also have language on "permanent" and "temporary" carbon removal... and are paying big for permanent. I put my thoughts in a video, check it out here.
Come ask a question to the head of Shopify's Sustainability Fund a question --˜ we've got Stacy Kauk from Shopify and a few of their portfolio companies joining for our "Shopify Fund" AirMiners event on Sept 30th -- more info here.
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