A Stripe-led group for buying carbon removal services struck its first major deal in Europe on Tuesday as it aims to help stimulate a global market for the technology.
The Frontier fund, which includes companies such as Alphabet and Meta Platforms, will pay $48.6m (€45.3m) to Stockholm Exergi AB to capture and store carbon.
The Swedish utility burns biomass — including wood chips and logging waste — at power plants, and it aims to trap…