Heirloom signs $26.6M offtake agreement with Frontier buyers

One week on from opening America’s first commercial DAC facility, we’re excited to announce that we’ve reached an agreement to permanently remove 26,900 tons of CO₂ by 2030 from our next commercial facility on behalf of Frontier buyers, including Stripe, Meta, Shopify, JPMorgan, Mckinsey, Workday, H&M and Autodesk.

The agreement, which is valued at $26.6 million, also contains options to purchase more tons from future projects at lower prices. This value covers the cost of CO₂ removal as well as the measurement, reporting, and verification processes to ensure each ton is securely stored and accounted for accurately. 

Following Heirloom’s selection by the DOE for Regional DAC Hubs, our pioneering deal with Microsoft, and the launch of the first commercial DAC facility in America last week, we’re excited to supply high-quality carbon removal to a range of sophisticated buyers that are interested in adding or expanding DAC-produced carbon removal within their portfolios. The deal was made possible through Frontier’s best-in-class technical diligence on behalf of companies that share a commitment to durable, verifiable and additional carbon removal in support of ambitious climate goals.

According to Frontier, what makes Heirloom most compelling is that our path to low-cost DAC doesn’t depend on breakthroughs in sorbent innovation but rather operational excellence and economies of scale. This strategy has enabled us to significantly reduce our costs – by over 50% since Frontier’s first Heirloom purchase in May, 2021.

Our CEO, Shashank Samala, had this to say: “On the heels of opening America’s first and only commercial Direct Air Capture facility, our team at Heirloom is thrilled to reach an agreement with Frontier to remove CO₂ at our next facility. 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. Our path to high-scale and low-cost direct air capture is clear, and buyers like Frontier are helping us pave the way."